Canfor Pulp Reports Results for Second Quarter of 2020
The Company reported an operating loss of $6.3 million for the second quarter of 2020, down $12.4 million from operating income of $6.1 million reported for the first quarter of 2020. Reported results for the second quarter of 2020 included an $8.2 million finished pulp and raw material inventory write-down at period end. After adjusting for this, the Company’s operating income was $1.9 million for the second quarter of 2020, up $6.5 million from a similarly adjusted operating result in the previous quarter. The Company’s operating results for the second quarter of 2020 reflected direct and indirect impacts of the coronavirus outbreak on global markets, and more specifically the pulp and paper business.