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Canfor Pulp reports results for the second quarter of 2024

VANCOUVER, BC, July 25, 2024 /CNW/ - Canfor Pulp Products Inc. ("The Company" or "CPPI") (TSX:CFX) today reported its second quarter of 2024 results: Overview. Q2 2024 operating loss of $5.6 million; net loss of $6.3 million, or $0.10 per share. Strong global pulp pricing and moderate improvement in NBSK pulp unit sales realizations. Intercon NBSK pulp mill scheduled maintenance downtime completed as planned; restart delayed due to unforeseen recovery boiler repairs and start up challenges. Announced indefinite curtailment of one production line at Northwood NBSK pulp mill, driven by the decline in availability of economic fibre in the northern British Columbia region. Financial results. The following table summarizes selected financial information for CPPI for the comparative periods: (millions of Canadian dollars, except per share amounts) Q2 2024 Q1 2024 YTD 2024 Q2 2023 YTD 2023 Sales $ 220.0 $ 222.3 $ 442.3 $ 249.5 $ 492.8 Reported operating income (loss) before amortization $ 11.0 $ 1.2 $ 12.2 $ (15.3) $ (15.9) Reported operating loss $ (5.6) $ (15.7) $ (21.3) $ (37.9) $ (63.1) Adjusted operating income (loss) before amortization1 $ 11.0 $ 1.2 $ 12.2 $ (8.4) $ (5.4) Adjusted operating loss1 $ (5.6) $ (15.7) $ (21.3) $ (31.0) $ (52.6) Net loss $ (6.3) $ (2.4)