Business
GreenFirst Reports Financial Results for the Fourth Quarter of 2024
GreenFirst Forest Products Inc. (TSX: GFP) (“ GreenFirst ” or the “ Co...
About this update from Greenfirst Forest Products Inc
[{"type":"text","content":"GreenFirst Reports Financial Results for the Fourth Quarter of 2024\n\n\n .bwalignl { text-align: left }\n.bwalignr { text-align: right; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwlistdisc { list-style-type: disc }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadl4 { padding-left: 20px }\n.bwpadr0 { padding-right: 0px }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth1 { width: 1% }\n.bwwidth10 { width: 10% }\n.bwwidth100 { width: 100% }\n.bwwidth17 { width: 17% }\n.bwwidth2 { width: 2% }\n.bwwidth4 { width: 4% }\n.bwwidth50 { width: 50% }\n.bwwidth53 { width: 53% }\n.bwwidth58 { width: 58% }\n.bwwidth8 { width: 8% }\n.bwwidth9 { width: 9% }\n \n\n\n\n GreenFirst Forest Products Inc. (TSX: GFP) (“\n \n GreenFirst\n \n ” or the “\n \n Company\n \n ”) announced results for the year ended December 31, 2024. Company’s audited financial statements (\"\n \n Financial Statements\n \n \") and related Management's Discussion and Analysis (\"\n \n MD&A\n \n \") for the year ended December 31, 2024 are available on GreenFirst’s website at\n \n www.greenfirst.ca\n \n and on SEDAR+ at\n \n www.sedarplus.ca\n \n .\n \n\n\n Highlights\n \n\n\n\n Q4 2024 net loss from continuing operations was $26.6 million or $1.39 loss per share (diluted), compared to net income of $14.8 million or $0.83 earnings per share (diluted) in Q3 2024. Adjusted EBITDA from continuing operations for Q4 2024 was negative $0.9 million compared to negative $15.7 million in Q3 2024.\n \n\n Average realized lumber prices of $680/mfbm for Q4 2024 were higher than the $606/mfbm pricing realized in Q3 2024. Benchmark prices saw increases during the quarter as a result of an increase in the duties rate late in Q3 from 8.05% to 14.40% and recent rate cuts by the US Federal Reserve and Bank of Canada signaling a reversal in monetary policy. Subsequent to Q4 2024 pricing continued to move favorably as the U.S. administration announced the potential imposition of tariffs on Canadian imports.\n \n\n On October 17, 2024, the Company completed a substantive consolidation of its o...