Interfor Reports Q2’22 Results

INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) recorded Net earnings in Q2’22 of $269.9 million, or $4.92 per share, compared to $397.0 million, or $6.69 per share in Q1’22 and $419.2 million, or $6.45 per share in Q2’21. Adjusted net earnings in Q2’22 were $280.2 million compared to $392.5 million in Q1’22 and $433.5 million in Q2’21.

Adjusted EBITDA was $428.6 million on record sales of $1.4 billion in Q2’22 versus $570.1 million on sales of $1.3 billion in Q1’22.

Notable items in the quarter:
• Record Lumber Production and Shipments o Lumber production totaled a record 1.0 billion board feet, representing an increase of 99 million board feet quarter-over-quarter and the fifth consecutive quarter of record production.
• Moderating Lumber Prices o Interfor’s average selling price was $1,104 per mfbm, down $306 per mfbm versus Q1’22.
• Strong Free Cash Flow Generation o Interfor generated $218.2 million of cash flow from operations before changes in working capital, or $3.98 per share.
• Strong results from Eastern Canada Operations o The Eastern Canada Operations contributed $115.7 million of Adjusted EBITDA to Interfor’s second quarter results, which is net of $17.3 million recorded in production costs related to fair value adjustments recognized at the acquisition date.
• Ramp-up of DeQuincy, LA Sawmill o The DeQuincy, LA sawmill, with an annual two-shift capacity of 200 million board feet, has continued to ramp up ahead of schedule following its July 2021 acquisition in an idled state.
• Strategic Capital Investments o Capital spending was $65.1 million, including $40.6 million on discretionary projects.
more at: https://interfor.com/wp-content/uploads/2022/08/Interfor-Reports-Q222-Results.pdf

Related Posts

ANDRITZ receives order from UPM to rebuild paper machine in Dörpen

With the rebuild of PM2, the UPM group will increase the capacity of release paper production by an additional 110,000 t/a. Start-up after the rebuild is scheduled for the final quarter of 2019. The complex rebuild with demanding technological requirements, not only for the equipment but also for the process and product quality, was prepared in close cooperation between UPM and ANDRITZ. Apart from the rebuild of PM2, the ANDRITZ scope of supply also includes modification of the stock preparation system, approach flow and broke system. All sections of the paper machine will be modified. Click Read More below for additional information.

Klabin carries out a General Shutdown at the Puma Unit

Klabin will carry out the 2023 General Shutdown at the Puma Unit, in Ortigueira (PR), starting next week. This important event aims to ensure the proper functioning and reliability of the Unit's equipment, in addition to implementing improvements that increase the quality of the company's production process and the safety of employees and the community. Maintenance stop periods are regulatory for some industry sectors and therefore in line with Brazilian legislation. It is at this moment that the necessary interventions take place to guarantee the reliability of the operation, bringing safety to the processes and to employees and the community. The Parade also generates an opportunity for improvements and technological updates to be implemented. It should be noted that at Klabin, the stages of work are defined using the best project management practices, with a focus on safety, planning, integration and quality in the production processes of the manufacturing units.

Kimberly-Clark Reports Progress Toward Its 2030 Sustainability Ambitions

Kimberly-Clark published its annual report on sustainability, providing the first update on the company's global progress toward its 2030 sustainability strategy and goals, aimed at addressing the social and environmental challenges of the next decade with commitments to improve the lives and well-being of 1 billion people in underserved communities around the world with the smallest environmental footprint. "Reflecting on the past year, I am incredibly proud of how Kimberly-Clark and our people responded in a powerful way when the world needed us the most," said Mike Hsu, Chairman and CEO, Kimberly-Clark. "We know the hard work is still ahead of us, and growing for good means that we must be bolder and act faster to help address the social and environmental challenges facing our customers, consumers, communities, and the planet."
Back To Top
×Close search
Search