Conifex Posts Wider Q1 Loss as Lumber Pressures Persist

The company reported a net loss of $9.4 million, or $0.23 per share, for the quarter ending March 31.

SEATTLE (Scrap Monster): Conifex Timber Inc. struggled in the first quarter of 2026. Operational hiccups, lower shipment volumes, and the ongoing U.S. softwood lumber trade war weighed heavily on the company’s quarterly results.

The company reported a net loss of $9.4 million, or $0.23 per share, for the quarter ending March 31. That’s a slightly smaller loss than the $11.4 million they posted in Q4 2025, but it’s a sharp drop from their $0.6 million profit just a year ago. EBITDA stayed in the red at negative $7.7 million. 

Lumber production took a serious hit. They managed 21.7 million board feet—down 22% from Q4 2025 and down a huge 53% compared to Q1 2025. The drop was mostly because they cut back on operating days, idling production through mid-February during a curtailment. Shipments fell to 21.5 million board feet, while lumber revenues slipped by 5% quarter-over-quarter to $15 million.

In Q1 2026, the company booked $3 million in countervailing and anti-dumping duties.

Looking ahead, Conifex expects tough times to continue for softwood lumber in 2026, mainly on account of economic uncertainties, ongoing trade tensions with the U.S., and the slowdown in the recovery of U.S. housing demand.

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