Inflation, rising interest rates cool profits for lumber giants

West Fraser Timber plans to increase dividends to its shareholders in the third quarter of 2022.

Industry News

Canfor, West Fraser Timber both report reduced net income in second quarter of 2022

Canfor Corp. is reporting a net income of $373.8 million or $3.02 per share in its latest quarter, a considerable drop from its Q1 earnings of $534 million. For the second quarter of 2022 the Vancouver-based company reported operating income of $531.6 million, down by $210.4 from its operating income of $741.9 million in the first three months of the year. Sales were up slightly from $2.213 billion in Q1 to $2.171 billion in Q2.


Source: Prince George Citizen


Legal Notice: Paper Advance is not responsible for the accuracy or availability of content on external websites.