Canfor Corporation reported net income attributable to shareholders of $50.9 million for the 3Q 2016, compared to shareholder net income of $36 million for the 2Q 2016 and a net loss attributable to shareholders of $17.3 million for the 3Q 2015.
For the nine months ended September 30, 2016, the Company’s shareholder net income was $112.9 million, compared to $23.1 million for the nine months ended September 30, 2015.
The Company’s adjusted shareholder net income for the 3Q 2016 was $51.7 million, compared to an adjusted shareholder net income of $26.5 million for the 2Q 2016, and an adjusted shareholder net income of $6.4 million for the 3Q 2015.
For the nine months ended September 30, 2016, the Company’s adjusted shareholder net income was $99.1 million, compared to $50.9 million for the nine months ended September 30, 2015.
The Company reported operating income of $97.4 million for the 3Q 2016, up $43.3 million from adjusted operating income of $54.1 million for the 2Q 2016.
Commenting on the Company’s 3Q results, Canfor’s President and CEO, Don Kayne, said, “We had another solid quarter in our lumber business, benefitting from both increased prices across most grades and productivity improvements, particularly for our recently acquired mills where the performances continue to exceed our expectations.” Kayne added, “Similarly, our pulp business delivered solid financial results for the third quarter, following a return to more normal operating levels after the scheduled maintenance outages taken in the previous quarter.”
Canfor is a leading integrated forest products company based in Vancouver, British Columbia (“BC”) with interests in BC, Alberta, Ontario, North and South Carolina, Alabama, Georgia, Mississippi and Arkansas.
