During the Q2 2025, Conifex Timber generated a net loss of $8.3 million or $0.20 per share compared to net income of $0.6 million or $0.02 per share in the previous quarter, and net loss of $9.7 million or $0.24 per share in the Q2 2024.
EBITDA was negative $3.2 million for the Q2 2025 compared to EBITDA of $4.9 million in the Q1 2025 and negative $7.1 million in the Q2 2024. Net loss was $8.3 million or ($0.20) per share for the quarter versus net income of $0.6 million or $0.02 per share in the previous quarter and net loss of $9.7 million or ($0.24) per share in the Q2 2024.
Conifex Timber's lumber production in the Q2 2025 totalled approximately 35.3 million board feet, representing operating rates of approximately 59% of annualized capacity. Q2 production was negatively impacted by operating the sawmill on a four-day configuration, necessitated by reduced log availability.
Shipments of Conifex-produced lumber totaled 38.9 million board feet in the Q2 2025, representing an increase of 2% from the 38.0 million board feet shipped in the previous quarter, primarily due to improved transportation reliability and a draw down of its inventory build from the previous quarter. This also represents an increase of 1% from the 38.5 million board feet of lumber shipped in the Q2 2024. The results in the Q2 2024 were similar to the results in the Q2 2025 due to a similar draw down of its inventory build in the previous quarter of 2024.
Outlook
North American lumber markets are anticipated to experience continued volatility and uncertainty throughout the remainder of 2025. Duty deposit rate increases and potential tariffs represent significant challenges. With a robust fibre basket and a steady power generation cash flow stream supporting our lumber manufacturing operations, Conifex currently expects to sustain two-shift operations through the balance of 2025.
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. Conifex's lumber products are sold in the United States, Canadian and Japanese markets.
