High Lumber Prices Impact Canfor Income

Canfor Corporation had operating income of $602.6 million for the first quarter of 2021, up from operating income of $419 million in the first quarter of 2020. The increase reflects record results for the lumber segment and improved results in the pulp and paper segment. In the lumber segment, earnings increased $145.7 million quarter-over-quarter to $606.7 million. Total lumber production, at 1.47 billion board feet, was broadly in line with the prior quarter as modestly higher production at the company’s European operations, tied to fewer statutory holidays in the current period.