Conifex Timber Inc. reported results for the Q2 ended June 30, 2024. EBITDA was negative $7.1 million for the quarter compared to EBITDA of negative $0.5 million in the Q1 2024 and negative $8.7 million in the Q2 2024.
Net loss was $9.7 million or $0.24 per share for the quarter versus net loss of $4.5 million or $0.11 per share in the previous quarter and negative $9.2 million or $0.23 per share for the year-earlier quarter.
Revenues from lumber products were $25.0 million in the Q2 2024 representing a decrease of 15% from the previous quarter and an increase of 33% from the Q2 2023. Compared to the previous quarter, lower shipment volumes due to a reduced operating configuration and lower mill net realizations on lower lumber market prices contributed to the lower revenue. The revenue increase in the current quarter over the same period in the prior year was largely a result of higher shipment volumes and higher mill net realizations.
Conifex and its subsidiaries' primary business currently includes timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value added lumber finishing and distribution.
