Canfor reports an operating loss of $29 million in Q1 2025, a 38% decrease from $46 million in Q4 2024, on sales of $1.42 billion .
Sawmill production remained flat at approximately 1.20 billion board feet, as an 18% surge in Southern Yellow Pine volumes from ramp-ups in the US South offset declines in Western SPF output. The industry benchmark Western SPF 2x4 #2&Btr lumber price averaged US$492 per thousand board feet, up US$57, or 13%, from US$435 in Q4 2024.
Canfor’s US South sawmills in Axis and Urbana contribute to a 14% increase in Southern Yellow Pine shipments, offsetting a 12% drop in Western SPF shipments following closures. CEO Susan Yurkovich says, “Improved benchmark prices provided relief, but economic and trade uncertainty, including US duties, continue to challenge our lumber business.”
Pulp production at Canfor Pulp Products Inc. rises 6% to 104 thousand tonnes and the Northern Bleached Softwood Kraft list price to China gains 3% to US$793 per tonne .
Looking ahead, Canfor anticipates continued Q2 volatility, with tariffs and affordability constraints expected to keep demand tepid even as supply curtailments support modest price gains.
In pulp, the company schedules Q3 and Q4 maintenance at its Intercon and Northwood mills that will reduce Northern Bleached Softwood Kraft production by 12 thousand tonnes.
