Canfor Reports Results for Third Quarter of 2023
• Q3 2023 consolidated operating loss of $65 million, including a $49 million operating loss from the pulp business; adjusted operating loss of $86 million; adjusted shareholder net loss of $19 million, or $0.16 per share • Continued strong results in the US South; solid European results despite seasonal downtime; another challenging quarter for Western Canada • Persistent pressure on global lumber market demand and pricing through much of the quarter • Market-driven curtailments in Western Canada & seasonal downtime in Europe led to lower shipments • Confirmed future investment of approximately $200 million in a new, state-of-the-art manufacturing facility in Houston, British Columbia • Challenging results for Canfor Pulp despite stable global pulp market fundamentals; Northwood NBSK Pulp Mill scheduled maintenance completed as planned; restart delayed due to operational challenges