Interfor Reports Q2’22 Results

INTERFOR CORPORATION (“Interfor” or the “Company”) (TSX: IFP) recorded Net earnings in Q2’22 of $269.9 million, or $4.92 per share, compared to $397.0 million, or $6.69 per share in Q1’22 and $419.2 million, or $6.45 per share in Q2’21. Adjusted net earnings in Q2’22 were $280.2 million compared to $392.5 million in Q1’22 and $433.5 million in Q2’21.

Adjusted EBITDA was $428.6 million on record sales of $1.4 billion in Q2’22 versus $570.1 million on sales of $1.3 billion in Q1’22.

Notable items in the quarter:
• Record Lumber Production and Shipments o Lumber production totaled a record 1.0 billion board feet, representing an increase of 99 million board feet quarter-over-quarter and the fifth consecutive quarter of record production.
• Moderating Lumber Prices o Interfor’s average selling price was $1,104 per mfbm, down $306 per mfbm versus Q1’22.
• Strong Free Cash Flow Generation o Interfor generated $218.2 million of cash flow from operations before changes in working capital, or $3.98 per share.
• Strong results from Eastern Canada Operations o The Eastern Canada Operations contributed $115.7 million of Adjusted EBITDA to Interfor’s second quarter results, which is net of $17.3 million recorded in production costs related to fair value adjustments recognized at the acquisition date.
• Ramp-up of DeQuincy, LA Sawmill o The DeQuincy, LA sawmill, with an annual two-shift capacity of 200 million board feet, has continued to ramp up ahead of schedule following its July 2021 acquisition in an idled state.
• Strategic Capital Investments o Capital spending was $65.1 million, including $40.6 million on discretionary projects.
more at: https://interfor.com/wp-content/uploads/2022/08/Interfor-Reports-Q222-Results.pdf

Related Posts

Metsä Group’s comparable operating result in January–March 2018 was EUR 208 million

January–March 2018 (1–3/2017) *Sales were EUR 1,428 million (1–3/2017: EUR 1,216 million). *Operating result was EUR 208 million (131). Comparable operating result was EUR 208 million (128). *Result before tax was EUR 185 million (130). Comparable result before tax was EUR 185 million (126). *Comparable return on capital employed was 16.6% (12.5). *Cash flow from operations was EUR 34 million (-1). Click Read More below for additional information.

Sappi shows a recovery in results for first financial quarter 2021

Financial summary for the quarter: *EBITDA excluding special items US$98 million (Q1 FY20 US$139 million) *Net debt US$2,056 million (Q1 FY20 US$1,916 million) *Loss for the period US$17 million (Q1 FY20 Profit of US$24 million) *EPS excluding special items -1 US cent (Q1 FY20 6 US cents)

Stora Enso to globally exit dissolving pulp business for viscose production

During last year, we reviewed Stora Enso’s strategic agenda and identified our focus areas going forward. We want to focus on and take leading market positions in the segments where we see potential for future growth, namely packaging, wooden construction and biomaterials innovation from lignin. As a consequence of our strategic direction, we are in the process of exiting the segment of dissolving pulp for viscose production globally. This segment is not core for us and stands for only a small part of our overall business. Dissolving pulp is produced at Stora Enso’s Enocell mill, which currently produces both standard and dissolving pulp grades. Production at the Enocell mill will continue with other types of pulp grades than dissolving pulp and for other end uses than viscose.
Back To Top
×Close search
Search