Interfor Reports Q2''22 Results
Adjusted EBITDA of $429 million and Net Earnings of $270 million With Record Production, Shipments and Sales BURNABY, British Columbia, Aug. 04, 2022 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION ("Interfor" or the "Company") (TSX: IFP ) recorded Net earnings in Q2''22 of $269.9 million, or $4.92 per share, compared to $397.0 million, or $6.69 per share in Q1''22 and $419.2 million, or $6.45 per share in Q2''21. Adjusted net earnings in Q2''22 were $280.2 million compared to $392.5 million in Q1''22 and $433.5 million in Q2''21. Adjusted EBITDA was $428.6 million on record sales of $1.4 billion in Q2''22 versus $570.1 million on sales of $1.3 billion in Q1''22. Notable items in the quarter: Record Lumber Production and Shipments Lumber production totaled a record 1.0 billion board feet, representing an increase of 99 million board feet quarter-over-quarter and the fifth consecutive quarter of record production. This growth was mostly driven by the first full quarter of contribution from the Eastern Canada Operations; these operations produced 211 million board feet versus 96 million board feet in the preceding quarter.
Interfor Reports Q2''22 Results
Adjusted EBITDA of $429 million and Net Earnings of $270 million With Record Production, Shipments and Sales BURNABY, British Columbia, Aug. 04, 2022 (GLOBE NEWSWIRE) -- INTERFOR CORPORATION ("Interfor" or the "Company") (TSX: IFP ) recorded Net earnings in Q2''22 of $269.9 million, or $4.92 per share, compared to $397.0 million, or $6.69 per share in Q1''22 and $419.2 million, or $6.45 per share in Q2''21. Adjusted net earnings in Q2''22 were $280.2 million compared to $392.5 million in Q1''22 and $433.5 million in Q2''21. Adjusted EBITDA was $428.6 million on record sales of $1.4 billion in Q2''22 versus $570.1 million on sales of $1.3 billion in Q1''22. Notable items in the quarter: Record Lumber Production and Shipments Lumber production totaled a record 1.0 billion board feet, representing an increase of 99 million board feet quarter-over-quarter and the fifth consecutive quarter of record production. This growth was mostly driven by the first full quarter of contribution from the Eastern Canada Operations; these operations produced 211 million board feet versus 96 million board feet in the preceding quarter.