Canfor Corporation reported net income of $81.3 million for the 2Q 2017, compared to net income of $66.1 million for the 1Q 2017 and a net income of $36 million for the 2Q 2016. For the six months ended June 30, 2017, the Company’s net income was $147.4 million, compared to $62 million for the six months ended June 30, 2016.
The Company reported operating income of $131 million for the 2Q 2017, up $24.2 million from reported operating income of $106.8 million for the 1Q2017, as a solid improvement in lumber segment operating earnings more than offset slightly lower pulp and paper segment earnings.
Canfor’s President and CEO, Don Kayne, said, “Despite the assessment of preliminary duties, Canfor’s lumber business delivered solid financial performance, aided by increased Western SPF lumber prices and steadily improving operating performance.” Kayne added, “Our pulp business also benefited from favourable market conditions in the current quarter, generating solid financial results, despite our seasonally higher scheduled maintenance downtime.”
Canfor is a leading integrated forest products company based in Vancouver, British Columbia, Canada.