Canada's Conifex Timber reports Q2 net loss of C$8.3 mln
Overview
Conifex Q2 net loss C$8.3 mln, reversing Q1 net income of C$0.6 mln
Sales fall to C$33.9 mln from C$44.6 mln as lumber production impacted by reduced log availability
EBITDA negative C$3.2 mln in Q2, compared to C$4.9 mln in Q1
Outlook
Conifex expects continued volatility in North American lumber markets in 2025
Company anticipates sustaining two-shift operations through 2025
Duty deposit rate increases pose significant challenges
Conifex exploring financing options to improve liquidity
Result Drivers
LOG AVAILABILITY - Reduced log availability led to a 24% decrease in lumber production compared to the previous quarter, operating at 59% of annualized capacity
LUMBER PRICES - Lower mill net realizations on lower lumber market prices, particularly on wider dimension products, and a lower exchange rate on US dollar sales reduced revenue
MAINTENANCE SHUTDOWN - Bioenergy production fell due to a six-week annual maintenance shutdown, reducing electricity revenue
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| -C$0.18 |
|
Q2 Net Income |
| -C$8.30 mln |
|
Q2 Basic EPS |
| -C$0.2 |
|
Q2 EBITDA |
| -C$3.20 mln |
|
Q2 Operating Income |
| -C$4.50 mln |
|
Press Release: ID:nGNX9DVKLc
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