Canfor reports record profits
Canfor Corp. had record quarterly profits in the first quarter of 2021, thanks to record high North American lumber prices. In its first quarter financials for 2021, Canfor recorded sales of $1.9 billion – an increase of $771 million over Q1 2020. It netted $428 million in net income Q1, compared to a $70 million loss in Q1 2020. The company attributed the increased profits to a residential construction and renovation boom in the U.S. and Canada, and a “lean” lumber supply that has pushed lumber prices past all-time highs. The company ...
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