GreenFirst Forest Products Declared Q4 2024 Results

SEATTLE (Scrap Monster): Financial data for the fourth quarter of 2024 were released by GreenFirst Forest Products Inc.

During the quarter, the business recorded a net loss from continuing operations of $1.39 per diluted share. This contrasts with Q3 2024 earnings of $0.83 per diluted share. In comparison to the negative $15.7 million in Q3 2024, the adjusted EBITDA from continuing operations for Q4 2024 was minus $0.9 million. In Q4 2024, net sales decreased slightly by 1% on a quarterly basis to $69.9 million. Additionally, the business had $27.8 million in cash on hand as of December 31, 2024.

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The company stated in its assessment for the future that the lumber industry's economic outlook is characterized by a combination of possibilities and challenges. There are indications that the housing market in North America is beginning to stabilize. Low inventory maintenance and decreased lumber demand are still the key causes of the supply side challenges in the near term. Nonetheless, ongoing mill closures are probably going to boost lumber prices.

Joel Fournier, CEO of GreenFirst Forest Products, commented on the results, stating that the quarter's sales were adversely affected by weather-related disruptions. He noted that the company's continuous efforts to develop have paid off this quarter.