Canfor Manages Strong Operational Quarter; Reducing FVE to CAD 21 From CAD 22 Amid Stronger Loonie
Canfor turned in a strong second quarter despite a slowdown in U.S. homebuilding and the imposition of softwood lumber tariffs at the U.S.-Canada border. Adjusted EBITA surged to nearly CAD 228 million, roughly twice last year's performance. This improvement was primarily thanks to higher softwood lumber prices, which we expect will continue to climb over the coming years as U.S. residential construction demand swells. To reflect smaller Canadian-dollar-denominated cash flows from U.S. operation...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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