Canfor Corporation · TSX:CFP
Canfor — Q3 2026 Earnings Presentation
12 slides from Canfor's earnings presentation, Nov 4, 2026
Slide 1: Financial Performance Overview – Quarter 3, 2026
Financial Performance Overview – Quarter 3, 2026 Canfor Corporation Presented by: Pat Elliott – CFO & Corporate Secretary
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 2026 Review: Items impacting earning comparability
Canfor Corporation. Q3 2026 Review: Items impacting earning comparability Q3 2026 Q2 2026 Millions of dollars (except for per share amounts) $ $/Share $ $/Share Shareholder net loss, as reported $ (88.2) $ (0.75) $ (18.5) $ (0.16) Non-operating items (after-tax, net of non-controlling interests) For
Slide 4: Sales, operating & EBITDA summary
Canfor Corporation. Sales, operating & EBITDA summary: Q3 2026 vs Q2 2026 Q3 Q2 Millions of dollars (unless otherwise noted) Variance 2026 2026 Sales $ 1,284.8 $ 1,526.4 $ (241.6) Reported operating income (loss) by segment Lumber (19.9) 41.2 (61.1) Pulp and paper (44.6) (23.1) (21.5) Unallocated an
Slide 5: Countervailing & anti-dumping duty summary
Canfor Corporation. Countervailing & anti-dumping duty summary Q3 Q2 Millions of dollars Variance 2026 2026 Cash deposits paid1 $ 54.2 $ 48.3 $ (5.9) Incremental duty recovery attributable to current quarter2 (31.5) (24.2) 7.3 Duty expense, as reported3 $ 22.7 $ 24.1 $ 1.4 Section 232 tariffs 9.8 10
Slide 6: Canfor Corporation - Lumber
Canfor Corporation - Lumber. Q3 2026 vs Q2 2026 Lumber segment adjusted EBITDA of $108 million, $37 million unfavourable to Q2 Q3 Q2 Millions of dollars (unless otherwise noted) 2026 2026 Variance • Relatively stable lumber segment results across all operating regions, while demand uncertainty Sales
Slide 7: Lumber – Cash earnings summary
Canfor Corporation - Lumber. Cash earnings summary: Q3 2026 vs Q2 2026 Q3 Q2 Millions of dollars (unless otherwise noted) Variance 2026 2026 Lumber operating income (loss), as reported $ (19.9) $ 41.2 $ (61.1) Adjusting and one-time items1 35.7 15.5 20.2 Lumber adjusted operating income, before one-
Slide 8: Canfor Corporation - Pulp and Paper
Canfor Corporation - Pulp and Paper. Q3 2026 vs Q2 2026 Pulp and paper segment EBITDA of Q3 Q2 Millions of dollars (unless otherwise noted) Variance $2 million, $14 million favourable to Q2 2026 2026 Sales $ 142.9 $ 144.1 $ (1.2) • Another quarter of strong earnings from the Company's paper business
Slide 9: Appendix
Appendix.
Slide 10: Summary of adjusting and one-time items
Summary of adjusting and one-time items. Consolidated – Q3 2026 vs Q2 2026 Q3 2026 Q2 2026 1. For the lumber segment, an asset write-down and impairment charge of $31.8M and restructuring costs of $4.6M Reported operating income (loss) $ (76.6) $ 4.8 were recorded in Q3 2026 associated with the perm
Slide 11: Summary of adjusting and one-time items – Lumber
Summary of adjusting and one-time items. Lumber – Q3 2026 vs Q2 2026 Q3 2026 Q2 2026 1. For the lumber segment, an asset write-down and impairment charge of $31.8M and restructuring costs of $4.6M Reported operating income (loss) $ (19.9) $ 41.2 were recorded in Q3 2026 associated with the permanent
Slide 12: Slide 12