Increased Demand Ups Canfor Sales

Canfor Corporation had sales of $1,618 million in the fourth quarter of 2020, up from sales of $1,105.2 million in the fourth quarter of 2019. The increase is attributed to an increase in demand and record global pricing that resulted from the COVID-19 outbreak. Operating income was $419.6 million for the quarter which compares to a loss of $59.6 million in the same period in 2019. Adjusted lumber segment operating income of $365.5 million for the quarter 2020 decreased $21.9 million from the third quarter of 2020, as record quarterly results for the company’s European spruce/pine/fir (SPF)operations were more than offset by lower quarter-over-quarter earnings for the company’s southern yellow pine (SYP) operations. Operating results for the company’s western Canadian operations continued to be strong and were in line with the prior quarter.