Material shortages impact Canfor earnings

Canfor Corporation had an operating loss of $191.3 million in the fourth quarter of 2023, down from an operating loss of $65.1 million in the fourth quarter of 2022. The company had an adjusted operating loss of $232.4 million for the quarter compared to an adjusted operating loss of $85.9 million in the year-ago period. The company says it continued to face significant challenges in British Columbia accessing economically viable fibre, both logs and residuals, to support its BC operations, which resulted in closure announcements early in 2023. As a result, the lumber segment had an operating loss of $192.4 million compared to a loss of $20.1 million in the previous quarter. Overall, the company had a net loss of $117.1 million compared to a loss of $23.1 million in the year-ago period.