Canfor Pulp Products Inc. (“The Company” or “CPPI”) (TSX: CFX) today reported its fourth quarter of 2024 results:
Overview.
- Q4 2024 operating income of $4 million; net income of $3 million, or $0.04 per share.
- Market fundamentals remained relatively flat throughout most of the quarter, with some positive momentum late in the period as producers worked to reduce their higher-than-average inventory levels.
- 22% decrease in pulp production during Q4 2024 (versus Q3 2024) primarily due to the indefinite curtailment of one production line at its Northwood NBSK pulp mill in August 2024.
- Persistent challenges associated with the availability of economic fibre in British Columbia.
Commenting on the Company’s fourth quarter results, CPPI’s President and Chief Executive Officer, Stephen Mackie, said, “We are pleased to see improved results during the fourth quarter and appreciate the resilience of our employees as we continued to transition to reduced operating capacity, as well as their focus on improving our operational performance and reliability. While market conditions have showed some signs of improvement late in the fourth quarter and early into 2025, we continue to navigate the external challenges facing our business, including the availability of economically viable fibre and the actual and potential tariffs on exports into the US.”
Source: Canfor Pulp
