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Interfor reports Q2 financial loss amid weak lumber market

Interfor Corporation reported a net loss of $75.8 million in the second quarter of 2024, a slight increase from the $72.9 million loss in the previous quarter. The company’s adjusted EBITDA showed a loss of $16.7 million on sales of $771.2 million.

Lumber production decreased by 35 million board feet compared to Q1 2024, reflecting temporary and indefinite curtailments. With market conditions remaining weak, Interfor plans to further reduce production by 15 to 18 per cent between August and December 2024. Despite these challenges, the company’s liquidity improved by $30.8 million, reaching $330.5 million by the quarter’s end.

Interfor’s outlook suggests continued market depression due to economic uncertainty, but the company remains optimistic about mid-term recovery driven by favorable supply and demand fundamentals.

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