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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)