Conifex Timber Declared Q3 2024 Results

SEATTLE (Scrap Monster): Results for the third quarter of 2024, which concluded on September 30, were released by Conifex Timber Inc.

The company reported negative EBITDA of $3.9 million for the quarter, compared with negative EBITDA of $7.10 million in Q2 2024 and negative $6.7 million of EBITDA in the third quarter of 2023. Conifex reported net loss of $3.8 million or $0.09 per share for the quarter. This compares with net loss of $9.7 million or $0.24 per share in the previous quarter and net loss of $8.0 million or $0.20 per share for the year-earlier quarter, said a company press release.

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The Q3 2024 lumber production totalled approximately 31.5 million board feet, at an operating rate of nearly 53% of annualized capacity. A planned three-week curtailment at the start of the quarter and sporadic times of decreased shifting capacity had an impact on the production. With the help of additional operating hours, the production reached 48.9 million board feet in the third quarter of 2023.

In the third quarter of 2024, shipments of lumber made by Conifex came to a total of 29.3 million board feet, which was a significant decrease of 24% from the 38.5 million board feet shipped in the previous quarter and 30% from the 41.9 million board feet shipped in the same quarter the year before.