Conifex Q2 Results Hit by Sawmill Curtailment and Higher Lumber Trade Costs
Rubber and Wood | 2026-08-17 06:23:37
The combined anti-dumping and countervailing duty deposits stood at 35.16%. The company recorded $3.7 million in duty deposits during the quarter.
By Paul Ploumis
SEATTLE (Scrap Monster): Conifex Timber Inc. reported a net loss of $9.5 million, or $0.23 per share, for the second quarter of 2026. This compares with a loss of $8.3 million, or $0.20 per share, in the same period last year. The company’s operations were pressured by a prolonged sawmill shutdown and elevated U.S. trade duties.
EBITDA remained negative at $6.3 million, although it improved from a $7.7 million loss in the first quarter. Revenue fell to $23.0 million from $33.9 million a year earlier. Lumber sales contributed $19.0 million, while bioenergy revenue reached $2.8 million.
The company’s Mackenzie sawmill operated at only about 23% of annual capacity, producing 14.1 million board feet, down 60% year-on-year. Operations were curtailed in May because of limited sawlog availability during the spring breakup season. The shutdown has continued beyond its initially planned seven-week period.
The Power Plant entered its scheduled annual maintenance shutdown in May this year. The maintenance activities are in progress with the company’s previously announced maintenance plan. Power generation is expected to restart along with the commencement of sawmill operations, it said.
The combined anti-dumping and countervailing duty deposits stood at 35.16%. The company recorded $3.7 million in duty deposits during the quarter.
The company expects Canadian lumber markets to remain difficult through the rest of 2026.
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What was the main challenge affecting Conifex Timber’s Q2 2026 performance?
Frequently Asked Questions
- What was Conifex Timber’s net loss in Q2 2026?
Conifex Timber reported a net loss of $9.5 million, or $0.23 per share, compared with a $8.3 million loss, or $0.20 per share, in Q2 2025.
- How did Conifex’s revenue perform in the second quarter?
Revenue declined to $23.0 million from $33.9 million a year earlier. Lumber sales generated $19.0 million, while bioenergy revenue contributed $2.8 million.
- Why did Mackenzie sawmill production decline sharply?
The Mackenzie sawmill operated at only about 23% of annual capacity, producing 14.1 million board feet, a 60% year-on-year decline. Operations were curtailed because of limited sawlog availability during the spring breakup season, with the shutdown extending beyond the planned seven weeks.
