GreenFirst Narrows Q4 Loss, Boosts Liquidity in Weak Lumber Market
Meanwhile, new U.S. tariffs under Section 232 imposed a 10% duty on Canadian softwood lumber exports, adding cost pressures.
SEATTLE (Scrap Monster): GreenFirst Forest Products Inc. reported its financial results for the year ended December 31, 2025, highlighting improved quarterly performance despite ongoing weakness in lumber markets.
The company posted a Q4 2025 net loss from continuing operations of $32.8 million, or $1.43 per diluted share, narrowing from a $57.4 million loss in Q3. Adjusted EBITDA also improved to negative $21.7 million from negative $47.2 million in the prior quarter. However, benchmark lumber prices declined during the period, with average realized prices falling to $654 per thousand board feet from $695 in Q3.
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During the quarter, the company reclassified $4.8 million in previously reported costs within its 2024 financials, with no impact on net loss or cash flows. Meanwhile, new U.S. tariffs under Section 232 imposed a 10% duty on Canadian softwood lumber exports, adding cost pressures.
Operationally, GreenFirst completed installation of a new log line at its Chapleau mill, though commissioning temporarily affected production. The company also secured financial support, including a $19 million credit backstop from Export Development Canada and a $30 million term loan under a federal softwood lumber program.
CEO Joel Fournier said the company remains focused on stabilizing operations and improving performance heading into 2026.