Interfor's Lumber Output Touched 1 Billion Board Feet Milestone
Rubber and Wood | 2022-08-08 14:24:37
The lumber shipments hit a record of 1.1 billion board feet, higher from the prior quarter shipments by 239 million board feet.
By Paul Ploumis
SEATTLE (Scrap Monster): Interfor Corporation announced results for the second quarter of the current year. The company posted record production, shipments and sales.
According to company press release, it reported net earnings of $269.9 million, or $4.92 per share in Q2 2022, compared to $419.2 million, or $6.45 per share in the same quarter a year before. The adjusted net earnings were $280.2 million, compared to $433.5 million in Q2’21. The company posted adjusted EBITDA of $428.6 million on record sales of $1.4 billion, when matched with $570.1 million on sales of $1.3 billion in Q1’22.
Interfor’s lumber production totalled a record 1.0 billion board feet, contributed by the first full quarter of contribution from the Eastern Canada Operations, which recorded production of 211 million board feet. The U.S. South and U.S. Northwest regions accounted for 467 million board feet and 163 million board feet, whereas the B.C. production dipped to 174 million board feet.
The lumber shipments hit a record of 1.1 billion board feet, higher from the prior quarter shipments by 239 million board feet.
Announcing its outlook for the future, the company noted that it expects North American lumber markets remain volatile. The favourable underlying supply and demand fundamentals will deliver significant benefits to lumber markets over the mid-term.
The Board of Directors announced appointment of Tom Temple of Kingston as a director of the Company.