GreenFirst Forest Products' net sales were $71.8 million in Q1 2025, an increase of approximately 3% compared to Q4 2024. The increase in net sales was primarily driven by higher realized pricing during the quarter, which offset the impact of lower shipments.
Cost of sales were $62.1 million, a decrease of approximately 9% compared to Q4 2024. The decrease in cost of sales was primarily due to lower shipment volumes during the quarter.
Q1 2025 net income from continuing operations was $0.9 million or $0.04 earnings per share (diluted), compared to net loss of $26.6 million or $1.39 loss per share (diluted) in Q4 2024.
Adjusted EBITDA from continuing operations for Q1 2025 was positive $5.1 million compared to negative $0.9 million in Q4 2024.
“We are pleased to report Q1 2025 performance with positive EBITDA and net income from continuing operations, despite economic uncertainty and ongoing potential tariffs on lumber exports to the U.S.
While sales volumes and production were down due to market conditions and weather-related disruptions in Ontario, strong lumber prices exceeded expectations and supported the company’s positive financial results.
Looking ahead, we remain committed to disciplined capital expenditures and maintaining a strong balance sheet to navigate market volatility and potential headwinds,” said Joel Fournier, CEO of GreenFirst.
GreenFirst Forest Products is a forest-first business, focused on sustainable forest management and lumber production.
