Interfor Corporation recorded a net loss in Q1 2023 of $41.3 million, or $0.80 per share, compared to $72.2 million, or $1.40 per share in Q4 2022 and net earnings of $397.0 million, or $6.69 per share in Q1 2022.
Adjusted EBITDA was $26.1 million on sales of $829.9 million in Q1 2023 versus negative Adjusted EBITDA of $68.7 million on sales of $810.3 million in Q4 2022 and Adjusted EBITDA of $570.1 million on sales of $1.3 billion in Q1 2022.
Interfor expects that over the mid-term, lumber markets will continue to benefit from favourable underlying supply and demand fundamentals. Positive demand factors include the advanced age of the U.S. housing stock, a shortage of available housing and various demographic factors, while growth in lumber supply is expected to be limited by extended capital project completion and ramp-up timelines, labour availability and constrained global fibre availability.
Interfor is a growth-oriented forest products company with operations in Canada and the United States.
