Canfor's Q2 loss widens amid weak market conditions, softwood lumber duties
VANCOUVER — Canfor Corp. says its losses widened in the second quarter from last year amid weak market conditions in the U.S. south, rising global economic uncertainty and 'punitive' U.S. softwood lumber duties.
The forestry products company says it had a net loss of $202.8 million in the quarter compared to a net loss of $191.1 million in the same quarter last year.
Its adjusted net loss was $67 million compared to a loss of $168.7 million in the same quarter last year.
Canfor says it had an adjusted net loss of 56 cents per diluted share, compared to $1.42 per share last year, while the mean analyst estimate had been for a loss of 27 cents per share, according to LSEG Data & Analytics.
Chief executive Susan Yurkovich says the North American market is facing sluggish demand and weak pricing, leading the company to permanently close two sawmills in South Carolina.
She says the company is doing what it can to adapt as it faces punitive U.S. softwood lumber duties and ongoing global economic and trade uncertainty.
---
This report by The Canadian Press was first published Aug. 1, 2025.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Global News
16 minutes ago
- Global News
U.S. may ask tourist, business visa applicants to post US$15,000 bond
The U.S. State Department is proposing requiring applicants for business and tourist visas to post a bond of up to US$15,000 to enter the United States, a move that may make the process unaffordable for many. In a notice to be published in the Federal Register on Tuesday, the department said it would start a 12-month pilot program under which people from countries deemed to have high overstay rates and deficient internal document security controls could be required to post bonds of US$5,000, US$10,000 or US$15,000 when they apply for a visa. The proposal comes as the Trump administration is tightening requirements for visa applicants. Last week, the State Department announced that many visa renewal applicants would have to submit to an additional in-person interview, something that was not required in the past. In addition, the department is proposing that applicants for the Visa Diversity Lottery program have valid passports from their country of citizenship. Story continues below advertisement A preview of the bond notice, which was posted on the Federal Register website on Monday, said the pilot program would take effect within 15 days of its formal publication and is necessary to ensure that the U.S. government is not financially liable if a visitor does not comply with the terms of his or her visa. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Sign up for daily National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'Aliens applying for visas as temporary visitors for business or pleasure and who are nationals of countries identified by the department as having high visa overstay rates, where screening and vetting information is deemed deficient, or offering citizenship by investment, if the alien obtained citizenship with no residency requirement, may be subject to the pilot program,' the notice said. The countries affected will be listed once the program takes effect, it said. The bond could be waived depending on an applicant's individual circumstances. The bond would not apply to citizens of countries enrolled in the Visa Waiver Program, which enables travel for business or tourism for up to 90 days. The majority of the 42 countries enrolled in the program are in Europe, with others in Asia, the Middle East and elsewhere. Visa bonds have been proposed in the past but have not been implemented. The State Department has traditionally discouraged the requirement because of the cumbersome process of posting and discharging a bond and because of a possible misperceptions by the public. Story continues below advertisement However, the department said that previous view 'is not supported by any recent examples or evidence, as visa bonds have not generally been required in any recent period.'
CBC
an hour ago
- CBC
Tariff troubles for home builders
As CBC's Andrea Huncar reports, the trade war with the U.S. is slowing Edmonton's much needed home-building efforts.
CTV News
2 hours ago
- CTV News
Majority of Canadians support Palestine recognition even if Trump objects amid trade dispute: survey
A new Angus Reid Institute survey reveals that a majority of Canadians support recognizing Palestine as a state even if it complicates negotiations with the U.S. That support comes after Prime Minister Mark Carney announced on July 30 that Canada will recognize Palestine as an independent state in September. Despite warnings from U.S. President Donald Trump, who said Canada's stance could make a trade deal 'very hard' to achieve, 63 per cent of survey respondents say that Canada should go forth with the recognition even if Trump objects. The public sentiment unfolds against a backdrop of escalating trade talks between Canada and the U.S., triggered by a Trump-imposed 35 per cent tariff on Canadian imports not covered by CUSMA. Canadians who support Carney's decision outweigh 20 per cent of Canadians who think the nation should reverse course to safeguard trade relations. Another 17 per cent of respondents were unsure. Canadians double down on tariffs Meanwhile, public backing for Carney's tougher negotiation strategy is strengthening. According to the poll, nearly seven in 10 now support a 'hardball' approach to talks, preferring retaliatory tariffs even if they risk financial hardship at home. That figure rose from 63 per cent in July to 69 per cent in August. Fifty-eight per cent of Canadians also say the country should match the U.S. dollar-for-dollar on tariffs. Another eight per cent support a more measured tariff response, while just 18 per cent would prefer Canada hold back to avoid worsening the trade talks. Among those favouring tit-for-tat tariffs, the support holds firm. Nearly all in that group - 95 per cent - say Canada should stay the course even if it triggers another U.S. retaliation. About three-quarters, or 76 per cent, say the country should press on even if Canadians face higher prices or financial consequences at home. But as the trade battle drags on, Canadians are beginning to lose confidence in Ottawa's ability to manage it. While Carney's approval rating remains steady at 57 per cent, the number of Canadians who are unconfident in his negotiating team has now risen to 49 per cent, surpassing the 43 per cent who still express confidence. These numbers mark a shift from mid-July when Canadians were nearly evenly split - 46 per cent confident versus 45 per cent unconfident. Methodology The Angus Reid Institute (ARI) conducted an online survey from July 31 to Aug. 1, 2025, among a randomized sample of 1,333 Canadian adults who are members of Angus Reid Forum. The sample was weighted to be representative of adults nationwide according to region, gender, age, household income, and education, based on the Canadian census. For comparison purposes only, a probability sample of this size would carry a margin of error of plus or minus two percentage points, 19 times out of 20. Discrepancies in or between totals are due to rounding. The survey was self-commissioned and paid for by ARI.
