Canfor Corporation · TSX:CFP
Canfor — Q3 2024 Earnings Presentation
11 slides from Canfor's earnings presentation, Oct 28, 2024
Slide 1: Financial Performance Overview – Quarter 3, 2024
Financial Performance Overview – Quarter 3, 2024 Canfor Corporation & Canfor Pulp Products Inc. Presented by: Pat Elliott – CFO & SVP, Sustainability
Slide 2: Forward-looking statements
Forward-looking statements. • The presentation and answers to questions today contain forward-looking statements which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expres
Slide 3: Q3 2024 Review: Items impacting earning comparability
Canfor Corporation. Q3 2024 Review: Items impacting earning comparability Q3 2024 Q2 2024 Millions of dollars (except for per share amounts) $ $/Share $ $/Share Shareholder net loss, as reported $ (350.1) $ (2.96) $ (191.1) $ (1.61) Non-operating items (after-tax, net of non-controlling interests) F
Slide 4: Sales, operating & cash earnings summary: Q3 2024 vs. Q2 2024
Canfor Corporation. Sales, operating & cash earnings summary: Q3 2024 vs. Q2 2024 Q3 Q2 Millions of dollars (unless otherwise noted) Variance 2024 2024 Gross sales $ 1,202.9 $ 1,381.5 $ (178.6) Reported operating loss by segment Lumber $ (336.2) $ (230.5) $ (105.7) Pulp and Paper $ (209.3) $ (5.6) $
Slide 5: Countervailing & anti-dumping duty summary
Canfor Corporation. Countervailing & anti-dumping duty summary Q3 Q2 Millions of dollars Variance 2024 2024 Effective duties by quarter 1 Cash deposits paid $ 15.8 $ 12.0 $ (3.8) 2 Incremental duty expense attributable to current quarter $ 17.9 $ 26.6 $ 8.7 3 Duty expense, before prior period adjust
Slide 6: Canfor Corporation - Lumber: segment operating loss
Canfor Corporation - Lumber. Lumber segment operating loss of $129 million1, $14 million unfavourable to Q2 Q3 2024 vs. Q2 2024 • Persistent pressure on North American lumber markets Q3 Q2 Millions of dollars (unless otherwise noted) Variance and pricing, especially in the US South; positive 2024 20
Slide 7: Lumber cash earnings summary: Q3 2024 vs. Q2 2024
Canfor Corporation - Lumber. Cash earnings summary: Q3 2024 vs. Q2 2024 Q3 Q2 Millions of dollars (unless otherwise noted) Variance 2024 2024 Lumber operating loss, as reported $ (336.2) $ (230.5) $ (105.7) 1 Adjusting and one-time items - lumber segment $ 207.7 $ 115.6 $ 92.1 Lumber operating loss,
Slide 8: Canfor Pulp Products Inc. Pulp: Q3 2024 vs. Q2 2024
Canfor Pulp Products Inc. Pulp: Q3 2024 vs. Q2 2024 Q3 Q2 Millions of dollars (unless otherwise noted) Variance 2024 2024 Canfor Pulp operating income of Gross Sales $ 193.2 $ 220.0 $ (26.8) $2 million1, $7 million favourable to Q2 Reported operating income (loss) by segment • Modest improvement in
Slide 9: Appendix
Appendix.
Slide 10: Summary of adjusting and one-time items
Summary of adjusting and one-time items. Consolidated – Q3 2024 vs. Q2 2024 Q3 2024 Q2 2024 1. For the lumber segment, a $14.8 million net reversal Operating income (Loss) of a previously recognized inventory write-down was Actual Actual recorded in Q3 2024 (Q2 2024 – $51.4 million net Operating los
Slide 11: Summary of adjusting and one-time items – Lumber
Summary of adjusting and one-time items. Lumber– Q3 2024 vs. Q2 2024 Q3 2024 Q2 2024 Operating income (Loss) Actual Actual Operating loss, as reported $ (336.2) $ (230.5) 1. For the lumber segment, a $14.8 million net reversal Asset write-down and impairment – lumber segment $ 100.3 $ 31.6 of a prev