Interfor Corporation recorded net earnings in Q3 2022 of $3.5 million, or $0.06 per share, compared to $269.9 million, or $4.92 per share in Q2 2022 and $65.6 million, or $1.05 per share in Q3 2021.
Adjusted net earnings in Q3 2022 were $31.5 million compared to $280.2 million in Q2 2022 and $46.7 million in Q3 2021. Adjusted EBITDA was $129.5 million on sales of $1.0 billion in Q3 2022 versus $428.6 million on sales of $1.4 billion in Q2 2022.
Q3 2022 sales increased almost 56% to $1.035 billion, compared to $664.3 million in the Q3 2021.
Lumber production totaled 986 million board feet, representing a decrease of 30 million board feet quarter-over-quarter. The U.S. South and U.S. Northwest regions accounted for 470 million board feet and 159 million board feet, respectively, compared to 467 million board feet and 163 million board feet in Q2 2022. The Eastern Canada Operations produced 198 million board feet versus 211 million board feet in Q2 2022. Production in the B.C. region decreased to 159 million board feet from 174 million board feet in Q2 2022, in part due to the sale of the Acorn sawmill during Q2 2022.
Interfor is a growth-oriented forest products company with operations in Canada and the United States. The Company has annual lumber production capacity of approximately 4.8 billion board feet and offers a diverse line of lumber products.
