Canfor Corporation reported net income of $66.1 million, or $0.50 per share, for the 1Q 2017, compared net income of $38 million, or $0.29 per share, for the 4Q 2016 and a net income of $26 million, or $0.20 per share, for the 1Q 2016.
The Company’s adjusted net income for the 1Q 2017 was $59.3 million, or $0.45 per share, compared to an adjusted net income of $37.7 million, or $0.29 per share, for the 4Q 2016, and adjusted net income of $20.9 million, or $0.16 per share for the 1Q 2016.
The Company reported operating income of $106.8 million for the 1Q 2017, up $34.8 million from adjusted operating income of $72 million for the 4Q 2016.
Commenting on the Company’s 1Q results, Canfor’s President and CEO, Don Kayne, said, “Despite the weather-related challenges in Western Canada, our lumber and pulp businesses recorded solid financial and operating performances in the 1Q 2017, with operating income for both segments well up from the last quarter of 2016.”
Canfor is a leading integrated forest products company based in Vancouver, British Columbia (“BC”) with interests in BC, Alberta, North and South Carolina, Alabama, Georgia, Mississippi and Arkansas.