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.

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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.

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Source: Prince George Citizen

 

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