Canfor Corporation reported operating income of $201.8 million for the 3Q 2018, down $80.3 million from reported operating income of $282.1 million for the 2Q 2018, with the decline reflecting lower operating earnings in both the lumber and pulp and paper segments. 3Q 2018 sales increased to $1.32 billion, compared to the 3Q 2017, as the company said in the press release received by Lesprom Network.
Total lumber production, at 1.28 billion board feet, was 3% lower than the prior quarter as the benefit of improved productivity was more than offset by increased statutory holidays in the current quarter and the aforementioned disruptions.
Canfor’s President and CEO, Don Kayne, said: “Despite the significant operational disruptions presented by forest fires and extreme weather, our lumber business generated solid financial results, aided by the dedication and commitment of our employees and contractors who helped to mitigate the impact of the challenging operating conditions.” Kayne added, “Canfor Pulp recorded another financially solid quarter despite significant scheduled maintenance downtime at Northwood, ramp-up efforts at Taylor and several operational challenges. We are very focused on completing our repairs to our No.5 recovery boiler at Northwood and returning to full operating capacity later this quarter”.
Canfor is a leading integrated forest products company based in Vancouver, British Columbia, Canada. Canfor produces primarily softwood lumber and also owns a 54.8% interest in Canfor Pulp Products Inc., which is one of the largest global producers of Premium Reinforcing Northern Bleached Softwood Kraft Pulp and a leading producer of high performance kraft paper.
