GreenFirst Reports Q4 2024 Financial Results Amid Challenges

GreenFirst Forest Products Inc. ( (ICLTF) ) has released its Q4 earnings. Here is a breakdown of the information GreenFirst Forest Products Inc. presented to its investors.

GreenFirst Forest Products Inc. is a Canadian company specializing in sustainable forest management and lumber production, operating sawmills across Ontario’s certified public forest lands. In its latest financial report for the fourth quarter of 2024, GreenFirst reported a net loss from continuing operations of $26.6 million, a significant downturn from the previous quarter’s net income of $14.8 million. Despite a challenging quarter marked by weather-related disruptions and increased duty expenses, the company saw a rise in average realized lumber prices to $680/mfbm, up from $606/mfbm in Q3 2024. Key strategic moves included a share consolidation and the spin-out of Kap Corporation, alongside a successful rights offering that bolstered liquidity with $24.8 million in gross proceeds. Looking ahead, GreenFirst is cautiously optimistic, focusing on continuous improvement and cost management, while navigating external challenges such as potential tariffs on Canadian exports to the U.S. The company remains committed to sustainable practices and enhancing its competitive edge in the evolving lumber market.