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Canfor Pulp Products (TSE:CFX)
TSX:CFX
Earnings Data
Report Date
Mar 06, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.1Last Year’s EPS
-0.2Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2024
|% Change Since: -14.58%
|Next Earnings Date:Mar 06, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a challenging quarter for Canfor, with significant losses in the lumber sector, driven by weak North American markets and high operational costs in British Columbia. Despite these challenges, the company made strategic progress with new facilities in Alabama and positive results in Alberta and pulp operations, suggesting a cautiously optimistic outlook towards improving market conditions in the medium to long-term.Company Guidance
During Canfor and Canfor Pulp's third-quarter analyst call for fiscal year 2024, CEO Don Kayne and CFO Pat Elliott outlined significant financial and operational metrics. The lumber business reported an operating loss of $336 million, including a $100 million asset write-down and a $121 million adjustment related to non-cash duties. Adjusted for these items, the operating loss was $129 million, compared to $115 million in the prior quarter. The pulp business recorded an operating loss of $209 million, but on an adjusted basis, it generated an operating income of $2 million, an improvement of $7 million from the previous quarter. The company also reduced the net book value of its lumber and pulp assets in British Columbia by approximately $311 million. Capital expenditures amounted to $117 million in Q3, with a forecasted spend of $450 million for the lumber segment in 2024. Canfor Pulp's capital expenditure is expected to be around $50 million for 2024. Additionally, Canfor secured a $314 million duty deposit loan to enhance liquidity amidst ongoing challenges in fiber supply and market conditions.Successful New Facility Launch
The new sawmill in Axis, Alabama began production in Q3 2024, with an annual capacity of 250 million board feet on a two-shift basis.
Positive Earnings in Alberta
Despite weak North American lumber pricing, Canfor's Alberta operations delivered positive earnings in Q3 2024.
Improved Pulp Financial Results
Canfor Pulp generated an adjusted operating income of $2 million, showing an improvement of $7 million from the previous quarter, due to higher sales realizations.
Strong Financial Position
Canfor ends Q3 2024 with net cash of approximately $330 million, excluding Canfor Pulp and duty deposit loans.
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TSE:CFX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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TSE:CFX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 25, 2024 | C$0.96 | C$1.00 | +4.17% |
| May 01, 2024 | C$1.52 | C$1.55 | +1.97% |
| Mar 05, 2024 | C$1.62 | C$1.60 | -1.23% |
| Nov 02, 2023 | C$1.80 | C$1.79 | -0.56% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Canfor Pulp Products (TSE:CFX) report earnings?
Canfor Pulp Products (TSE:CFX) is schdueled to report earning on Mar 06, 2025, TBA Not Confirmed.
What is Canfor Pulp Products (TSE:CFX) earnings time?
Canfor Pulp Products (TSE:CFX) earnings time is at Mar 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:CFX EPS forecast?
TSE:CFX EPS forecast for the fiscal quarter 2024 (Q4) is -0.1.
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