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Rubber and Wood February 09, 2018 06:00:23 AM

Interfor’s Q4 Performance Boosted by Strong Lumber Prices and Record Sales

Paul Ploumis
ScrapMonster Author
The key lumber benchmark prices increased significantly during the quarter. The lumber sales during the quarter totaled 686 million board feet. The average lumber selling price touched a record of $650 per mfbm.`
Interfor’s Q4 Performance Boosted by Strong Lumber Prices and Record Sales

SEATTLE (Scrap Monster): Interfor Corporation delivered a strong Q4 in 2017, mainly on the back of strong lumber prices and improved sales. The sales during the quarter as well as the entire year 2017 hit new records. The lumber selling prices by the company too touched record high during the quarter.

Interfor reported net earnings of $36.2 million in Q4, as compared with $26.6 million reported during the corresponding quarter in 2016. The quarterly sales reported marked improvement from $489.2 million during the prior quarter to $532.8 million in Q4 ’17. Adjusted EBITDA surged higher from $60.5 million in Q3 to $89.5 million in Q4 of 2017. The net earnings for the year stood at $97.2 million.

The key lumber benchmark prices increased significantly during the quarter. The lumber sales during the quarter totaled 686 million board feet. The average lumber selling price touched a record of $650 per mfbm. The company’s lumber production climbed higher marginally by 2% over the previous quarter to 655 million board feet. The production in the US South region increased modestly from 281 million board feet in Q3 ’17 to 296 million board feet during the last quarter of the year. The US Northwest lumber production remained more or less flat at around 140 million board feet. Meantime, the B.C lumber production dropped marginally from 225 million board feet to 219 million board feet.

During the quarter, Interfor’s Canadian operations shipped nearly 109 million board feet of lumber to the US market. The shipments to the US market accounted for almost 16% of the company’s total lumber sales. The imposition of countervailing and anti-dumping lumber duties by the U.S. Department of Commerce has negatively impacted the lumber trade with US during the quarter.

Interfor announced that it has appointed Ian Fillinger as Senior Vice-President & Chief Operating Officer, and Marty Juravsky as Senior Vice-President & Chief Financial Officer, effective February 9, 2018.

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