Canfor Benefits From Improved Lumber Pricing, Flat Unit Costs in Q3; Raising FVE to CAD 27
Canfor managed a strong third quarter, topping even our bullish expectations, increasing adjusted EBITDA to CAD 116 million from CAD 8 million in 2015. Nearly flat unit costs were a welcome surprise, with productivity improvements offsetting higher hauling and log costs in British Columbia. Seasonally higher lumber demand in the third quarter boosted dimensional lumber prices 44% in Canadian-dollar terms.This quarter is just the beginning. There remains substantial upside for lumber demand, wit...
Canfor is an integrated forest products company with facilities in Canada and the U.S. Co. has two reportable segments: Lumber and Pulp and Paper. The Lumber segment includes logging operations, and manufacturing and sale of various grades, widths and lengths of lumber, engineered wood products, wood chips and wood pellets. The Pulp and Paper segment includes purchase of residual fibre, and production and sale of pulp and paper products, including Northern Bleached Softwood Kraft and Bleached Chemi-Thermo Mechanical Pulp as well as energy revenues.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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