Latest news with #Canfor
Yahoo
7 days ago
- Business
- Yahoo
TSX Growth Companies With High Insider Ownership For May 2025
As the Canadian market navigates potential changes in U.S. tax policies and the implications of rising bond yields, investors are keenly observing how these factors might influence their portfolios. In this environment, growth companies with high insider ownership can offer a compelling investment opportunity, as they often indicate strong confidence from those who know the business best and may provide stability amid broader market fluctuations. Name Insider Ownership Earnings Growth Propel Holdings (TSX:PRL) 36.5% 33% Robex Resources (TSXV:RBX) 19.8% 147.4% Almonty Industries (TSX:AII) 11.4% 55.8% Intermap Technologies (TSX:IMP) 14.5% 98.1% goeasy (TSX:GSY) 21.9% 18.2% Enterprise Group (TSX:E) 32.2% 24.8% Aritzia (TSX:ATZ) 17.5% 22.4% Discovery Silver (TSX:DSV) 17.5% 42.1% Allied Gold (TSX:AAUC) 16% 80% Tenaz Energy (TSX:TNZ) 10.4% 151.2% Click here to see the full list of 42 stocks from our Fast Growing TSX Companies With High Insider Ownership screener. Let's explore several standout options from the results in the screener. Simply Wall St Growth Rating: ★★★★☆☆ Overview: Canfor Corporation is an integrated forest products company with operations in the United States, Asia, Canada, Europe, and internationally, and has a market cap of CA$1.56 billion. Operations: The company's revenue segments include Lumber at CA$4.64 billion and Pulp & Paper at CA$772.50 million. Insider Ownership: 22.7% Canfor Corporation has seen substantial insider buying over the past three months, indicating confidence in its growth prospects. The company trades at a good value compared to peers and is expected to achieve revenue growth of 5.8% annually, outpacing the Canadian market average. Despite recent net losses, Canfor aims for profitability within three years. Recent executive changes and a share repurchase program underscore strategic adjustments amidst maintenance outages impacting production levels. Dive into the specifics of Canfor here with our thorough growth forecast report. Our expertly prepared valuation report Canfor implies its share price may be lower than expected. Simply Wall St Growth Rating: ★★★★☆☆ Overview: Lightspeed Commerce Inc. provides cloud-based software subscriptions and payment solutions for retailers, restaurants, and golf course operators globally, with a market cap of CA$2.01 billion. Operations: The company generates revenue primarily from its software and programming segment, amounting to $1.08 billion. Insider Ownership: 10.5% Lightspeed Commerce has experienced recent net losses, with a full-year loss of US$667.2 million, yet its revenue grew to US$1.08 billion. The company forecasts further revenue growth of 10% to 12% for fiscal year 2026 and is expected to become profitable within three years. Recent product innovations in retail and hospitality aim to enhance operational efficiency, while a completed share buyback program reflects strategic financial management amidst ongoing growth initiatives in the golf industry. Click here to discover the nuances of Lightspeed Commerce with our detailed analytical future growth report. Upon reviewing our latest valuation report, Lightspeed Commerce's share price might be too pessimistic. Simply Wall St Growth Rating: ★★★★☆☆ Overview: Savaria Corporation offers accessibility solutions for the elderly and physically challenged across Canada, the United States, Europe, and internationally with a market cap of CA$1.39 billion. Operations: The company's revenue segments include Patient Care, which generated CA$194.92 million, with a Segment Adjustment of CA$683.63 million. Insider Ownership: 17.3% Savaria Corporation has demonstrated revenue growth, reporting CAD 220.23 million in Q1 2025, up from CAD 209.44 million the previous year. The company forecasts further growth of 5-8% for fiscal 2025, driven by volume and price increases, new product launches, and favorable exchange rates in its Accessibility and Patient Care segments. Insider activity shows substantial buying over the past three months, indicating confidence in future performance amidst reliable dividend payments of CAD 0.045 per share monthly. Click here and access our complete growth analysis report to understand the dynamics of Savaria. The valuation report we've compiled suggests that Savaria's current price could be quite moderate. Embark on your investment journey to our 42 Fast Growing TSX Companies With High Insider Ownership selection here. Looking For Alternative Opportunities? The latest GPUs need a type of rare earth metal called Dysprosium and there are only 23 companies in the world exploring or producing it. Find the list for free. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks analysis only considers stock directly held by insiders. It does not include indirectly owned stock through other vehicles such as corporate and/or trust entities. All forecast revenue and earnings growth rates quoted are in terms of annualised (per annum) growth rates over 1-3 years. Companies discussed in this article include TSX:CFP TSX:LSPD and TSX:SIS. Have feedback on this article? Concerned about the content? with us directly. 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Business Insider
13-05-2025
- Business
- Business Insider
Analysts' Opinions Are Mixed on These Materials Stocks: Canfor (OtherCFPZF) and Celanese (CE)
Analysts have been eager to weigh in on the Materials sector with new ratings on Canfor (CFPZF – Research Report) and Celanese (CE – Research Report). Protect Your Portfolio Against Market Uncertainty Canfor (CFPZF) TD Securities analyst Sean Steuart maintained a Buy rating on Canfor yesterday and set a price target of C$18.00. The company's shares closed last Monday at $9.81, close to its 52-week low of $9.76. Steuart has an average return of 0.8% when recommending Canfor. According to Steuart is ranked #1698 out of 9527 analysts. Canfor has an analyst consensus of Moderate Buy, with a price target consensus of $12.92, which is a 29.3% upside from current levels. In a report issued on April 30, Raymond James also maintained a Buy rating on the stock with a C$22.00 price target. Celanese (CE) RBC Capital analyst Arun Viswanathan maintained a Hold rating on Celanese on May 8 and set a price target of $53.00. The company's shares closed last Monday at $54.53, close to its 52-week low of $45.94. According to Viswanathan has 0 stars on 0-5 stars ranking scale with an average return of -5.4% and a 44.3% success rate. Viswanathan covers the Basic Materials sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and Westlake Chemical. Celanese has an analyst consensus of Hold, with a price target consensus of $58.71, implying a 6.0% upside from current levels. In a report issued on May 6, Mizuho Securities also maintained a Hold rating on the stock with a $50.00 price target.
Yahoo
12-05-2025
- Business
- Yahoo
Canfor Announces Voting Results for the Election of Directors
VANCOUVER, BC, May 12, 2025 /CNW/ - Canfor Corporation (TSX: CFP) announces, in accordance with Toronto Stock Exchange requirements, the voting results from its Annual General Meeting held Thursday, May 8, 2025, in Vancouver, British Columbia. A total of 100,480,282 common shares were voted at the meeting representing 84.86% of the votes attached to all outstanding shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as follows:Votes For Votes Withheld % of Votes For (rounded) John R. Baird 99,455,751 760,608 99.24 % Ryan Barrington-Foote 87,396,480 12,819,879 87.21 % Dieter W. Jentsch 99,461,029 755,330 99.25 % Santhe Dahl 98,247,253 1,969,106 98.04 % M. Dallas H. Ross 92,923,812 7,292,547 92.72 % Frederick T. Stimpson III 91,025,391 9,190,968 90.83 % Sandra Stuart 97,052,846 3,163,513 96.84 % Dianne L. Watts 97,086,964 3,129,395 96.88 % Cheryl Yaremko 100,139,391 76,968 99.92 % Susan Yurkovich 98,984,262 1,232,097 98.77 % Detailed voting results for the meeting are available on SEDAR at The above figures are based on proxies voted for and percentage of votes for at the meeting. Forward-looking statements. Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on Management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Canfor assumes no obligation to update such information to reflect later events or developments, except as required by law. About Canfor Corporation. Canfor is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. The Company has a 77% stake in Vida AB, Sweden's largest privately owned sawmill company, and also owns a 54.8% interest in Canfor Pulp Products Inc. Canfor shares are traded on The Toronto Stock Exchange under the symbol CFP. For more information visit SOURCE Canfor Corporation View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
08-05-2025
- Business
- Globe and Mail
Canfor reports results for the first quarter of 2025.
VANCOUVER, BC , May 8, 2025 /CNW/ - Canfor Corporation ("The Company" or "Canfor") (TSX: CFP) today reported its first quarter of 2025 results: Overview. Q1 2025 operating loss of $29 million ; shareholder net loss of $31 million , or $0.26 per share. Increase in North American lumber prices through Q1 2025 driven largely by supply constraints amid rising global economic and trade uncertainty; improved results from Western Canada following rationalization in 2024, combined with another quarter of solid earnings from Europe . Improved results for Canfor Pulp as global softwood pulp market fundamentals saw modest improvement early in the quarter. Financial results. The following table summarizes select financial information for the Company for the comparative periods: (millions of Canadian dollars, except per share amounts) Q1 2025 Q4 2024 Q1 2024 Sales $ 1,417.5 $ 1,285.7 $ 1,382.7 Reported operating income before amortization $ 72.6 $ 52.7 $ 19.8 Reported operating loss $ (28.5) $ (45.9) $ (85.8) Adjusted operating income (loss) before amortization 1 $ 68.9 $ 16.6 $ (10.4) Adjusted operating loss 1 $ (32.2) $ (82.0) $ (116.0) Net loss 2 $ (31.0) $ (63.3) $ (64.5) Net loss per share, basic and diluted 2 $ (0.26) $ (0.53) $ (0.54) Adjusted net loss 1, 2 $ (38.1) $ (39.9) $ (52.1) Adjusted net loss per share, basic and diluted 1, 2 $ (0.32) $ (0.33) $ (0.44) 1. Adjusted results referenced throughout this news release are defined as non-IFRS financial measures. For further details, refer to the "Non-IFRS Financial Measures" section of this document. 2. Attributable to equity shareholders of the Company. The Company reported an operating loss of $28.5 million for the first quarter of 2025, compared to an operating loss of $45.9 million in the fourth quarter of 2024. After taking into consideration a $3.7 million reversal of a previously recognized inventory write-down, the Company's adjusted operating loss was $32.2 million for the first quarter of 2025, compared to a similarly adjusted operating loss of $82.0 million for the fourth quarter of 2024. These results largely reflected improved lumber segment results and, to a lesser extent, the pulp and paper segment. Commenting on the Company's first quarter of 2025 results, Canfor's President and Chief Executive Officer, Susan Yurkovich said, "While improved North American lumber benchmark prices provided some relief this quarter, rising global economic and trade uncertainty, in addition to the already punitive US softwood lumber duties, create a challenging backdrop and a period of significant uncertainty for our lumber business. Through our diversified operating platform in Canada , the US South and Europe , we are positioned to mitigate these challenges, while remaining focused on what we can control, including operating safely and efficiently, working with our customers, and continuing to be flexible and responsive. "For our pulp business" Yurkovich added, "this was another solid quarter with improved results and a strong operational performance. However, global economic uncertainty is also putting pressure on global softwood pulp markets in the near term." First quarter lumber segment highlights. For the lumber segment, the operating loss was $25.5 million for the first quarter of 2025, compared to the previous quarter's operating loss of $36.6 million . After taking into consideration the aforementioned inventory adjustment, the Company's lumber segment adjusted operating loss was $29.2 million for the first quarter of 2025, compared to a similarly adjusted operating loss of $72.7 million for the fourth quarter of 2024. These results principally reflected improved results from the Company's North American operations, most notably in Western Canada , combined with another quarter of solid earnings from its European operations. For the quarter overall, results reflected generally improved North American lumber benchmark pricing through most of the period, an uplift in European market pricing, and a 2 cent , or 3%, weaker Canadian dollar versus the US-dollar combined with a 4% weaker Canadian dollar versus the Swedish Krona ("SEK"). These factors were combined with an increase in production and shipments, predominantly in the US South, largely driven by the ongoing ramp-up of the Company's Urbana sawmill in Arkansas following its modernization and expansion project, as well as its greenfield sawmill in Axis, Alabama . These positive drivers were tempered, to a degree, by a decrease in Western Spruce/Pine /Fire ("SPF") production and shipments following the closures in the previous period, as well as an ongoing escalation in European log costs. Overall, North American lumber markets experienced a modest improvement in the first quarter of 2025. Despite solid underlying long-term fundamentals, affordability challenges and economic and political instability, driven primarily by concerns over potential US tariffs, continued to weigh on demand in the current period. Reduced supply from mill closures and market-related curtailments in Western Canada , coupled with weather-related disruptions in the US South, however, led to an increase in most North American lumber benchmark prices quarter-over-quarter. In Japan , improved demand in the multi-family rental and non-residential segments through the first quarter of 2025 was combined with fewer imports into the region, which led to an uptick in pricing in the current period. In contrast, demand in China remained muted throughout the current quarter, as the real estate market continued to face difficulties despite the government's ongoing efforts to stimulate the economy. These demand factors were met with lower supply and resulted in relatively flat and subdued pricing in the region quarter-over-quarter. European lumber pricing experienced a moderate improvement through the first quarter of 2025, principally reflecting ongoing log supply constraints and high log prices, which lowered lumber inventories in the region and gave rise to pricing pressure in the current period. Lumber segment outlook. Looking ahead, North American lumber markets are anticipated to experience continued volatility and uncertainty throughout the second quarter of 2025. Ongoing affordability challenges and tariff-related disruptions to traditional trade flows are projected to result in tepid demand in the near term. In addition to the pre-existing countervailing and anti-dumping duty impacts on the Company, Canfor continues to monitor the trade situation between Canada and the US. With a diversified global operating platform, the Company is positioned to mitigate some of these costs. However, potential tariffs do present challenges for the Company's Canadian operations. As a result, the Company is continuing to focus on domestic markets, as well as strengthening its presence in non-US markets. In Japan , lumber demand and pricing are anticipated to continue to improve through the second quarter of 2025 as a result of ongoing strength in the multi-family rental and non-residential sectors, coupled with relatively lean inventory levels in the region. In China , the subdued market conditions experienced in the first quarter of 2025 are forecast to continue through the second quarter. In Europe , lumber supply is projected to remain under pressure in the second quarter of 2025 as a result of ongoing log supply constraints and persistently high log prices in the region. This constrained lumber supply, when combined with an anticipated slight improvement in affordability, is forecast to result in an uplift in European lumber prices in the second quarter. First quarter pulp and paper segment highlights. For the pulp and paper segment, operating income was $10.8 million for the first quarter of 2025, compared to $4.1 million for the fourth quarter of 2024. These results were largely driven by a modest uplift in Canfor Pulp Product Inc.'s ("CPPI") average Northern Bleached Softwood Kraft ("NBSK") pulp unit sales realizations in the current quarter combined with a 6% increase in pulp production compared to the fourth quarter of 2024. Global softwood pulp market fundamentals experienced some positive improvement during the first quarter of 2025, with modest strength observed early in the quarter, particularly in China , as global pulp producer inventory levels began to stabilize. As the quarter progressed, however, this momentum diminished as global economic and trade uncertainty rose. As a result, US-dollar NBSK list prices to China , the world's largest pulp consumer, started the year at US$770 per tonne and saw a modest increase through the current period, ending March at US$798 per tonne. For the current quarter overall, US-dollar NBSK pulp list prices to China averaged US$793 per tonne, up US$26 per tonne, or 3%, from the prior quarter. Pulp and paper segment outlook. While global pulp demand and pulp producer inventory levels are currently stable, looking ahead, global softwood pulp markets are anticipated to remain subdued as increasing uncertainty associated with economic concerns and potential trade disruptions weigh on market conditions. Like Canfor, CPPI continues to monitor the trade situation between Canada and the US and is prepared with mitigation plans to mostly offset the impact should tariffs on US shipments be imposed. CPPI is also monitoring the broader global trade situation. With its high quality, specialty product offering and market diversification, CPPI is positioned to respond to any potential tariffs. In addition, CPPI will continue to evaluate operating conditions and adjust operating rates at its pulp mills to align with economically viable fibre supply. These factors could also affect CPPI's operating plan, liquidity, cash flows and the valuation of long-lived assets. Looking forward, CPPI has revised its maintenance schedule for the second half of 2025. A maintenance outage is now scheduled in the third quarter of 2025 at CPPI's Intercon Pulp mill and at its Paper machine. This maintenance outage is projected to reduce both NBSK market pulp production and paper production by 2,000 tonnes each. In the fourth quarter of 2025, a maintenance outage is now scheduled at CPPI's Northwood Pulp mill which is projected to reduce NBSK market pulp production by 10,000 tonnes. Additional information and conference call. A conference call to discuss the first quarter's financial and operating results will be held on Friday, May 9, 2025 , at 9:00 AM Pacific time . To participate in the call, please dial Toll-Free 1-888-510-2154. For instant replay access until May 23, 2025 , please dial Toll-Free 1-888-660-6345 and enter participant pass code 27122#. The conference call will be webcast live and will be available at This news release, the attached financial statements and a presentation used during the conference call can be accessed via the Company's website at Non-IFRS financial measures. Throughout this press release, reference is made to certain non-IFRS financial measures which are used to evaluate the Company's performance but are not generally accepted under IFRS and may not be directly comparable with similarly titled measures used by other companies. The following table provides a reconciliation of these non-IFRS financial measures to figures reported in the Company's condensed consolidated interim financial statements: (millions of Canadian dollars) Q1 2025 Q4 2024 Q1 2024 Reported operating loss $ (28.5) $ (45.9) $ (85.8) Inventory recovery, net $ (3.7) $ (36.1) $ (30.2) Adjusted operating loss $ (32.2) $ (82.0) $ (116.0) Amortization $ 101.1 $ 98.6 $ 105.6 Adjusted operating income before amortization $ 68.9 $ 16.6 $ (10.4) After-tax impact, net of non-controlling interests (millions of Canadian dollars) Q1 2025 Q4 2024 Q1 2024 Net loss 3 $ (31.0) $ (63.3) $ (64.5) Foreign exchange (gain) loss on term debt $ 1.2 $ (2.7) $ 6.6 Foreign exchange (gain) loss on duty deposits loan $ (2.5) $ 21.3 $ - (Gain) loss on derivative financial instruments $ (5.8) $ 4.8 $ 5.8 Adjusted net loss 3 $ (38.1) $ (39.9) $ (52.1) 3. Attributable to equity shareholders of the Company. Forward-looking statements. Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on Management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Canfor assumes no obligation to update such information to reflect later events or developments, except as required by law. About Canfor Corporation. Canfor is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia , Canfor produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada , the United States and Europe . The Company has a 77% stake in Vida AB, Sweden's largest privately owned sawmill company and also owns a 54.8% interest in Canfor Pulp Products Inc. Canfor shares are traded on The Toronto Stock Exchange under the symbol CFP. For more information visit
Cision Canada
08-05-2025
- Business
- Cision Canada
Canfor reports results for the first quarter of 2025.
VANCOUVER, BC, May 8, 2025 /CNW/ - Canfor Corporation ("The Company" or "Canfor") (TSX: CFP) today reported its first quarter of 2025 results: Overview. Q1 2025 operating loss of $29 million; shareholder net loss of $31 million, or $0.26 per share. Increase in North American lumber prices through Q1 2025 driven largely by supply constraints amid rising global economic and trade uncertainty; improved results from Western Canada following rationalization in 2024, combined with another quarter of solid earnings from Europe. Improved results for Canfor Pulp as global softwood pulp market fundamentals saw modest improvement early in the quarter. Financial results. The following table summarizes select financial information for the Company for the comparative periods: (millions of Canadian dollars, except per share amounts) Q1 2025 Q4 2024 Q1 2024 Sales $ 1,417.5 $ 1,285.7 $ 1,382.7 Reported operating income before amortization $ 72.6 $ 52.7 $ 19.8 Reported operating loss $ (28.5) $ (45.9) $ (85.8) Adjusted operating income (loss) before amortization 1 $ 68.9 $ 16.6 $ (10.4) Adjusted operating loss 1 $ (32.2) $ (82.0) $ (116.0) Net loss 2 $ (31.0) $ (63.3) $ (64.5) Net loss per share, basic and diluted 2 $ (0.26) $ (0.53) $ (0.54) Adjusted net loss 1, 2 $ (38.1) $ (39.9) $ (52.1) Adjusted net loss per share, basic and diluted 1, 2 $ (0.32) $ (0.33) $ (0.44) 1. Adjusted results referenced throughout this news release are defined as non-IFRS financial measures. For further details, refer to the "Non-IFRS Financial Measures" section of this document. 2. Attributable to equity shareholders of the Company. The Company reported an operating loss of $28.5 million for the first quarter of 2025, compared to an operating loss of $45.9 million in the fourth quarter of 2024. After taking into consideration a $3.7 million reversal of a previously recognized inventory write-down, the Company's adjusted operating loss was $32.2 million for the first quarter of 2025, compared to a similarly adjusted operating loss of $82.0 million for the fourth quarter of 2024. These results largely reflected improved lumber segment results and, to a lesser extent, the pulp and paper segment. Commenting on the Company's first quarter of 2025 results, Canfor's President and Chief Executive Officer, Susan Yurkovich said, "While improved North American lumber benchmark prices provided some relief this quarter, rising global economic and trade uncertainty, in addition to the already punitive US softwood lumber duties, create a challenging backdrop and a period of significant uncertainty for our lumber business. Through our diversified operating platform in Canada, the US South and Europe, we are positioned to mitigate these challenges, while remaining focused on what we can control, including operating safely and efficiently, working with our customers, and continuing to be flexible and responsive. "For our pulp business" Yurkovich added, "this was another solid quarter with improved results and a strong operational performance. However, global economic uncertainty is also putting pressure on global softwood pulp markets in the near term." First quarter lumber segment highlights. For the lumber segment, the operating loss was $25.5 million for the first quarter of 2025, compared to the previous quarter's operating loss of $36.6 million. After taking into consideration the aforementioned inventory adjustment, the Company's lumber segment adjusted operating loss was $29.2 million for the first quarter of 2025, compared to a similarly adjusted operating loss of $72.7 million for the fourth quarter of 2024. These results principally reflected improved results from the Company's North American operations, most notably in Western Canada, combined with another quarter of solid earnings from its European operations. For the quarter overall, results reflected generally improved North American lumber benchmark pricing through most of the period, an uplift in European market pricing, and a 2 cent, or 3%, weaker Canadian dollar versus the US-dollar combined with a 4% weaker Canadian dollar versus the Swedish Krona ("SEK"). These factors were combined with an increase in production and shipments, predominantly in the US South, largely driven by the ongoing ramp-up of the Company's Urbana sawmill in Arkansas following its modernization and expansion project, as well as its greenfield sawmill in Axis, Alabama. These positive drivers were tempered, to a degree, by a decrease in Western Spruce/Pine/Fire ("SPF") production and shipments following the closures in the previous period, as well as an ongoing escalation in European log costs. Overall, North American lumber markets experienced a modest improvement in the first quarter of 2025. Despite solid underlying long-term fundamentals, affordability challenges and economic and political instability, driven primarily by concerns over potential US tariffs, continued to weigh on demand in the current period. Reduced supply from mill closures and market-related curtailments in Western Canada, coupled with weather-related disruptions in the US South, however, led to an increase in most North American lumber benchmark prices quarter-over-quarter. In Japan, improved demand in the multi-family rental and non-residential segments through the first quarter of 2025 was combined with fewer imports into the region, which led to an uptick in pricing in the current period. In contrast, demand in China remained muted throughout the current quarter, as the real estate market continued to face difficulties despite the government's ongoing efforts to stimulate the economy. These demand factors were met with lower supply and resulted in relatively flat and subdued pricing in the region quarter-over-quarter. European lumber pricing experienced a moderate improvement through the first quarter of 2025, principally reflecting ongoing log supply constraints and high log prices, which lowered lumber inventories in the region and gave rise to pricing pressure in the current period. Lumber segment outlook. Looking ahead, North American lumber markets are anticipated to experience continued volatility and uncertainty throughout the second quarter of 2025. Ongoing affordability challenges and tariff-related disruptions to traditional trade flows are projected to result in tepid demand in the near term. In addition to the pre-existing countervailing and anti-dumping duty impacts on the Company, Canfor continues to monitor the trade situation between Canada and the US. With a diversified global operating platform, the Company is positioned to mitigate some of these costs. However, potential tariffs do present challenges for the Company's Canadian operations. As a result, the Company is continuing to focus on domestic markets, as well as strengthening its presence in non-US markets. In Japan, lumber demand and pricing are anticipated to continue to improve through the second quarter of 2025 as a result of ongoing strength in the multi-family rental and non-residential sectors, coupled with relatively lean inventory levels in the region. In China, the subdued market conditions experienced in the first quarter of 2025 are forecast to continue through the second quarter. In Europe, lumber supply is projected to remain under pressure in the second quarter of 2025 as a result of ongoing log supply constraints and persistently high log prices in the region. This constrained lumber supply, when combined with an anticipated slight improvement in affordability, is forecast to result in an uplift in European lumber prices in the second quarter. First quarter pulp and paper segment highlights. For the pulp and paper segment, operating income was $10.8 million for the first quarter of 2025, compared to $4.1 million for the fourth quarter of 2024. These results were largely driven by a modest uplift in Canfor Pulp Product Inc.'s ("CPPI") average Northern Bleached Softwood Kraft ("NBSK") pulp unit sales realizations in the current quarter combined with a 6% increase in pulp production compared to the fourth quarter of 2024. Global softwood pulp market fundamentals experienced some positive improvement during the first quarter of 2025, with modest strength observed early in the quarter, particularly in China, as global pulp producer inventory levels began to stabilize. As the quarter progressed, however, this momentum diminished as global economic and trade uncertainty rose. As a result, US-dollar NBSK list prices to China, the world's largest pulp consumer, started the year at US$770 per tonne and saw a modest increase through the current period, ending March at US$798 per tonne. For the current quarter overall, US-dollar NBSK pulp list prices to China averaged US$793 per tonne, up US$26 per tonne, or 3%, from the prior quarter. Pulp and paper segment outlook. While global pulp demand and pulp producer inventory levels are currently stable, looking ahead, global softwood pulp markets are anticipated to remain subdued as increasing uncertainty associated with economic concerns and potential trade disruptions weigh on market conditions. Like Canfor, CPPI continues to monitor the trade situation between Canada and the US and is prepared with mitigation plans to mostly offset the impact should tariffs on US shipments be imposed. CPPI is also monitoring the broader global trade situation. With its high quality, specialty product offering and market diversification, CPPI is positioned to respond to any potential tariffs. In addition, CPPI will continue to evaluate operating conditions and adjust operating rates at its pulp mills to align with economically viable fibre supply. These factors could also affect CPPI's operating plan, liquidity, cash flows and the valuation of long-lived assets. Looking forward, CPPI has revised its maintenance schedule for the second half of 2025. A maintenance outage is now scheduled in the third quarter of 2025 at CPPI's Intercon Pulp mill and at its Paper machine. This maintenance outage is projected to reduce both NBSK market pulp production and paper production by 2,000 tonnes each. In the fourth quarter of 2025, a maintenance outage is now scheduled at CPPI's Northwood Pulp mill which is projected to reduce NBSK market pulp production by 10,000 tonnes. Additional information and conference call. A conference call to discuss the first quarter's financial and operating results will be held on Friday, May 9, 2025, at 9:00 AM Pacific time. To participate in the call, please dial Toll-Free 1-888-510-2154. For instant replay access until May 23, 2025, please dial Toll-Free 1-888-660-6345 and enter participant pass code 27122#. The conference call will be webcast live and will be available at This news release, the attached financial statements and a presentation used during the conference call can be accessed via the Company's website at Non-IFRS financial measures. Throughout this press release, reference is made to certain non-IFRS financial measures which are used to evaluate the Company's performance but are not generally accepted under IFRS and may not be directly comparable with similarly titled measures used by other companies. The following table provides a reconciliation of these non-IFRS financial measures to figures reported in the Company's condensed consolidated interim financial statements: 3. Attributable to equity shareholders of the Company. Forward-looking statements. Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on Management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Canfor assumes no obligation to update such information to reflect later events or developments, except as required by law. About Canfor Corporation. Canfor is a global leader in the manufacturing of high-value low-carbon forest products including dimension and specialty lumber, engineered wood products, pulp and paper, wood pellets and green energy. Proudly headquartered in Vancouver, British Columbia, Canfor produces renewable products from sustainably managed forests, at more than 50 facilities across its diversified operating platform in Canada, the United States and Europe. The Company has a 77% stake in Vida AB, Sweden's largest privately owned sawmill company and also owns a 54.8% interest in Canfor Pulp Products Inc. Canfor shares are traded on The Toronto Stock Exchange under the symbol CFP. For more information visit
