Canfor reports results for the third quarter of 2026

(TSX:CFP) Canfor Corporation reported a third quarter 2026 operating loss of $77 million and a shareholder net loss of $88 million, or $0.75 per share. Adjusted EBITDA for Q3 2026 was $98 million, after accounting for adjusting and one-time items totaling $74 million, compared to $120 million in Q2 2026. Sales for the quarter were $1,284.8 million, down from $1,526.4 million in Q2 2026. The company completed the acquisition of PinkWood Ltd., expanding its engineered wood products capacity. Canfor announced the permanent closures of the Fox Creek sawmill in Fox Creek, Alberta, and the Northwood Northern Bleached Softwood Kraft (NBSK) pulp mill in Prince George, British Columbia. The Fox Creek sawmill completed its wind down during Q3 2026, and Northwood is anticipated to close by year-end. The company recognized an asset write-down and impairment charge of $31.8 million and restructuring costs of $4.6 million in Q3 2026 related to the Fox Creek closure. For the Northwood pulp mill closure, an asset write-down and impairment charge of $10.0 million and restructuring and closure costs of $36.7 million were recognized in Q3 2026. The lumber segment reported an operating loss of $19.9 million for Q3 2026, compared to operating income of $41.2 million in Q2 2026, with adjusted EBITDA of $107.9 million after $35.7 million in adjusting and one-time items. The pulp and paper segment reported an operating loss of $44.6 million for Q3 2026, with adjusted EBITDA of $1.5 million after $38.4 million in adjusting and one-time items. The company's paper business delivered EBITDA of $10.5 million in Q3 2026, up from $8.0 million in Q2 2026. North American benchmark lumber prices declined modestly, while global softwood pulp market conditions remained subdued. US-dollar NBSK pulp list prices to China averaged US$645 per tonne in Q3 2026, down US$13 per tonne, or 2%, from the previous quarter. Global softwood pulp producer inventories ended August at 46 days of supply, two days higher than at the end of June 2026. The company expects market conditions to remain challenging through the balance of the year, with softer seasonal demand for lumber and continued pressure in global pulp markets. Lower softwood lumber duty rates, effective mid-October, are projected to partially mitigate weaker Western SPF pricing. The company’s results reflected relatively stable lumber segment performance across all operating regions, strong earnings from the paper business, and improved pulp results despite subdued market conditions. The company’s actions to close facilities are part of ongoing efforts to adapt its operating footprint to market conditions and position its businesses for long-term resilience and competitiveness.

Canfor reports results for the second quarter of 2026

(TSX: CFP) Canfor Corporation reported operating income of $5 million and a shareholder net loss of $19 million, or $0.16 per share, for the second quarter of 2026. Adjusted operating income for Q2 2026 was $24 million, compared to an adjusted operating loss of $93 million in Q1 2026. The company announced the permanent closure of the Urshult and Orrefors sawmills in southern Sweden and the Northwood NBSK pulp mill in Prince George, British Columbia, which is anticipated to remove approximately 300,000 tonnes of annual NBSK production capacity. Canfor completed the acquisition of PinkWood Ltd, adding 46 million linear feet of annual I-joist production capacity. Sales for Q2 2026 were $1,526.4 million, with reported operating income before amortization, asset write-downs and impairments of $114.5 million. The company projects that North American lumber markets are likely to moderate later in the third quarter and through the balance of the year, and that global softwood kraft pulp market conditions are anticipated to remain under pressure during the third quarter of 2026.

Canfor announces closure of Fox Creek Sawmill

(TSX: CFP) Canfor Corporation announced that it will permanently close its Fox Creek sawmill in Fox Creek, Alberta. The closure is attributed to prolonged weak market conditions, persistent high US softwood lumber duties and tariffs, and fibre supply impacts due to recent wildfires and the conclusion of the mountain pine beetle management strategy. The Fox Creek sawmill was rebuilt in 2011 as a single-shift operation after being destroyed by fire in 2008. The closure represents a reduction of 120 million board feet of production capacity. Operations at Fox Creek are expected to be concluded by late summer. Canfor has operated in Alberta for more than 70 years and maintains operations at Grande Prairie and Whitecourt sawmills, as well as value-added manufacturing facilities at Spruceland and the newly acquired PinkWood. The company has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company.

Canfor announces closure of Northwood Pulp Mill

(TSX:CFP) Canfor Corporation announced the permanent closure of its Northwood pulp mill in Prince George, British Columbia. This closure will result in an annual reduction of about 300,000 tonnes of Northern Bleached Softwood Kraft (NBSK) from Northwood. Approximately 300 employees in Prince George are directly impacted by this decision. Northwood is expected to close in late Q4 2026, following an orderly wind-down process. The company has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company. Canfor produces renewable products from sustainably managed forests at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. The company projects to support employees through this transition, including providing severance and exploring opportunities to redeploy impacted employees to other operating locations.

Canfor completes acquisition of Calgary-based PinkWood Ltd.

(TSX: CFP) Canfor Corporation has completed the acquisition of PinkWood Ltd, Western Canada’s largest I-joist facility based in Calgary, Alberta. The acquisition was announced on June 9, 2026, and PinkWood will retain its name and operate as a wholly owned subsidiary of Canfor. The operation will add 120 employees and 46 million linear feet of annual I-joist production capacity to Canfor’s operations. Canfor is headquartered in Vancouver, British Columbia, and operates more than 50 facilities across Canada, the United States, and Europe. The company has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company. Canfor produces renewable products from sustainably managed forests, including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets, and green energy. Canfor shares are traded on the Toronto Stock Exchange under the symbol CFP.

Canfor Corporation announces Second Quarter Results Conference Call

(TSX:CFP) Canfor Corporation will hold an analyst conference call on Thursday, July 30, 2026, to discuss their Q2 2026 financial and operating results. The call will take place at 9:00 a.m. PT and will use a new webcast service provider. Presentation material referenced during the conference call will be available on the morning of the call at canfor.com/investors. The replay of the conference call will be available until September 28, 2026, on canfor.com/investors, under Webcasts. Canfor is headquartered in Vancouver, British Columbia, and operates more than 50 facilities across Canada, the United States and Europe. The Company has a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company. Canfor shares are traded on the Toronto Stock Exchange under the symbol CFP.

Canfor further diversifies with acquisition of I-joist facility in Calgary

(TSX:CFP) Canfor Corporation announced that it has entered into an agreement with PinkWood Ltd. to purchase its I-joist business for $68.0 million, including working capital. PinkWood is the largest I-joist facility in Western Canada, with production capacity of 46 million linear feet and 120 employees. Of the total consideration, $55.0 million is payable on closing, with the remaining $13.0 million payable over 5 years. The purchase price represents a 5 times EBITDA multiple based on current production levels and earnings, including identified synergies. Canfor anticipates financing this transaction with cash and available liquidity on hand. The transaction is expected to close in the third quarter, subject to customary closing conditions. Canfor produces renewable products from sustainably managed forests at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe.

Vida AB to close two sawmills in southern Sweden

Canfor Corporation (TSX:CFP) announced that its 77%-owned subsidiary, Vida AB, will permanently close its sawmill operations in Urshult and Orrefors, Sweden. The closures are attributed to an ongoing imbalance between production capacity and access to fibre in southern Sweden. As a result, Vida’s annual lumber production capacity will be reduced by approximately 265,000 cubic metres. After the closures, Vida will operate 13 sawmills across central and southern Sweden, in addition to its other facilities in packaging, specialty finishing, and logistics. Canfor is described as a global leader in manufacturing high-value low-carbon forest products, with more than 50 facilities across Canada, the United States, and Europe. The company holds a 77% stake in Vida AB, Sweden’s largest privately owned sawmill company. Canfor shares are traded on the Toronto Stock Exchange under the symbol CFP.

Canfor reports results for the first quarter of 2026

Canfor Corporation (TSX:CFP) reported its first quarter 2026 results, showing an operating loss of $73 million and a shareholder net loss of $72 million, or $0.62 per share. After adjusting items of $20 million, the adjusted operating loss for Q1 2026 was $93 million, an improvement from the $145 million adjusted operating loss in Q4 2025. The company acquired the remaining shares of Canfor Pulp Products Inc., resulting in 100% ownership. Global lumber and pulp markets remained challenging, with subdued demand and ongoing trade and geopolitical pressures, but North American benchmark lumber pricing improved due to supply tightness. Canfor continues to focus on operational resilience and cost control amid ongoing market volatility.