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CANFOR PULP REPORTS RESULTS FOR FIRST QUARTER OF 2024

VANCOUVER, BC, May 1, 2024 /CNW/ - Canfor Pulp Products Inc. ("The Company" or "CPPI") (TSX:CFX) today reported its first quarter of 2024 results: Overview Q1 2024 operating loss of $16 million; net loss of $2 million, or $0.04 per share Modest uptick in NBSK pulp unit sales realizations, despite relatively subdued global pulp demand and flat producer inventory levels 7% increase in pulp production quarter-over-quarter reflecting solid operational performance and reduced unplanned downtime Persistent challenges associated with the availability of economic fibre in British Columbia in the near-term and through the balance of 2024 Financial Results The following table summarizes selected financial information for CPPI for the comparative periods:         Q1           Q4          Q1 (millions of Canadian dollars, except per share amounts) 2024 2023 2023 Sales $ 222.3 $ 193.9 $ 243.3 Reported operating income (loss) before amortization $ 1.2 $ 1.1 $ (0.6) Reported operating loss $ (15.7) $ (15.1) $ (25.2) Adjusted operating income (loss) before amortization1 $ 1.2 $ (9.8) $ 3.0 Adjusted operating loss1 $ (15.7) $ (26.0)