Interfor’s Lumber Output Set Fresh Record in Q2 This Year
Rubber and Wood | 2021-08-06 12:53:43
The available liquidity as at the end of the quarter was $1.2 billion.
By Paul Ploumis
SEATTLE (Scrap Monster): Interfor Corporation announced record results during the second quarter this year.
During the quarter, the company reported net earnings of $419.2 million, or $6.45 per share. This compares with $3.2 million, or $0.05 per share in the corresponding quarter a year before. The adjusted net earnings too witnessed significant improvement from $10.6 million to $433.5 million.
The adjusted EBITDA stood at $611.3 million on sales of $1.1 billion during the quarter, compared to $392.1 million on sales of $849.3 million in the prior quarter. The cash flow from operations totalled $484.5 million. The available liquidity as at the end of the quarter was $1.2 billion.
The lumber production by the company was 716 million board feet, which is a new record for the company in terms of quarterly production. Out of this, the U.S. South region accounted for 387 million board feet of production. Interfor’s lumber shipments stood at 714 million board feet, at an average selling price of $1,419 per mfbm.
The company declared that it will expand its multi-year strategic capital plan with an additional US$230 million of strategic investments in its U.S. South platform through 2024. This will result in annual lumber production growth of approximately 250 million board feet.
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