Northwire Canada EditionSaturday, October 17, 2026
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GOLD 4181.10 +0.3% SILVER 57.30 +0.3% COPPER 6.57 +0.3% OIL 99.02 +1.1% PALLADIUM 1118.60 −0.9% GBU 0.095 +0.0% ATY 0.225 +4.7% GRDM 0.215 +0.0% PPM 0.300 +0.0% GZD 0.040 −11.1% CAN 0.060 +0.0% BGF 0.025 +0.0% MSV 0.570 +0.0% CCMM 0.485 +0.0% MON 0.385 −6.1% OMI 0.245 −2.0% BUFF 0.800 +2.6% FEO 0.630 −3.1% LIB 0.710 −1.4% NPR 0.620 +0.0% QZM 0.380 +0.0% GOLD 4181.10 +0.3% SILVER 57.30 +0.3% COPPER 6.57 +0.3% OIL 99.02 +1.1% PALLADIUM 1118.60 −0.9% GBU 0.095 +0.0% ATY 0.225 +4.7% GRDM 0.215 +0.0% PPM 0.300 +0.0% GZD 0.040 −11.1% CAN 0.060 +0.0% BGF 0.025 +0.0% MSV 0.570 +0.0% CCMM 0.485 +0.0% MON 0.385 −6.1% OMI 0.245 −2.0% BUFF 0.800 +2.6% FEO 0.630 −3.1% LIB 0.710 −1.4% NPR 0.620 +0.0% QZM 0.380 +0.0%
Earnings

Canfor reports results for the fourth quarter of 2025.

By The Northwire Desk — AI Analysis Mar 05, 2026 · 18:00 CFP · 13.58 CANFOR CORPORATION
CFP · Price

Executive Summary

  • Canfor reported a Q4 2025 operating loss of C$415.9 M and a net loss of C$390.5 M (C$3.35 per share), driven by a C$320.4 M asset write‑down/impairment.
  • Adjusted operating loss after one‑time items was C$145.0 M, worse than the prior quarter’s adjusted loss of C$111.3 M.
  • Both lumber and pulp & paper segments posted larger losses; management warned that continued trade duties, weak demand and macro‑economic headwinds make it “highly probable” CPPI will breach its March 31 2026 financial covenants.

Key Details

  • Operating & Net Losses
  • Reported operating loss: C$415.9 M (Q3 2025: C$208.3 M)

  • Net loss: C$390.5 M, or C$3.35 per share (basic & diluted)

  • Asset Write‑down / Impairment – Total C$320.4 M

  • Lumber segment: C$213.9 M (incl. goodwill, PP&E, inventories)

  • Pulp & paper segment: C$106.5 M (includes C$52.5 M deferred tax asset write‑off)

  • Adjusted Operating Loss – After one‑time items of C$270.9 M: C$145.0 M (Q3 2025 adjusted loss: C$111.3 M).

  • Segment Performance

  • Lumber: Operating loss C$318.8 M; adjusted operating loss C$105.4 M. Production up 2% YoY, helped by full‑quarter contribution from Hedin sawmills in Europe.

  • Pulp & Paper (CPPI): Operating loss C$85.6 M; adjusted operating loss C$28.1 M. Production curtailed by scheduled maintenance at Northwood mill.

  • Revenue: C$1,282.3 M for Q4 2025 (vs. C$1,259.8 M in Q3 2025).

  • Amortization Expense: C$109.3 M (Q3 2025: C$97.6 M).

  • One‑Time Items

  • No restructuring/closure costs recognized in Q4 2025.

  • Duty expense of C$77.2 M recorded in Q3 2025 for finalized countervailing and anti‑dumping rates.

  • Outlook & Covenant Risk

  • Management forecasts continued weakness in softwood pulp markets; CPPI likely to breach its March 31 2026 financial covenants.

  • Proposed Arrangement Agreement with Canfor remains pending; covenant relief discussions on hold.

  • Conference Call: Scheduled for Friday, March 6 2026 at 9:00 AM PT (webcast replay available until May 1 2026).

Notable Quotes

“Our lumber business continued to face significant headwinds… we remain focused on safe, efficient operations, disciplined cost management and prudent capital allocation.” – Susan Yurkovich, President & CEO

“The pulp segment also remained under significant pressure… ongoing weakness in the softwood pulp market continues to present challenges.” – Susan Yurkovich

Read the original news release →

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