Financial Performance - Interfor Corporation reported net earnings of $11.1 million, or $0.22 per share, in Q2'25, a significant recovery from a net loss of $35.1 million in Q1'25 and a net loss of $75.8 million in Q2'24 [1][23][24] - Adjusted EBITDA for Q2'25 was $17.2 million on sales of $780.5 million, compared to $48.6 million on sales of $735.5 million in Q1'25 and an Adjusted EBITDA loss of $16.7 million on sales of $771.2 million in Q2'24 [2][7][19] - The company achieved a 37 million board foot reduction in inventory volume during the quarter, with lumber shipments of 978 million board feet exceeding production by approximately 5% [2][4] Financial Position - Net debt at the end of Q2'25 was $798.0 million, representing 35.6% of invested capital, down from $886.3 million or 37.3% in Q1'25 [2][10][12] - The company generated $84.9 million in positive operating cash flow, aided by a $60.5 million reduction in working capital [2][10] - Interfor completed an early renewal and extension of its Revolving Term Line, increasing the commitment to $562.5 million and extending maturity to July 25, 2029 [2][17] Market Conditions - North American lumber markets are expected to remain volatile due to changing monetary policies, tariffs, labor shortages, and geopolitical uncertainty [3][4] - The U.S. Department of Commerce published a final anti-dumping duty rate of 20.56% on Canadian lumber, with an expected incremental expense of approximately $100 million in Q3'25 [2][8] - Canadian lumber is anticipated to remain a key supply source for the U.S. market, despite growth constraints in U.S. lumber manufacturing capacity [5][6] Operational Highlights - Lumber production for Q2'25 was 935 million board feet, with significant contributions from various regions including the U.S. South and Eastern Canada [9][28] - The average selling price of lumber was $684 per thousand board feet, down $28 from Q1'25, primarily due to the strengthening of the Canadian Dollar against the U.S. Dollar [2][9] - Capital expenditures for 2025 are projected to be between $85 million and $95 million, with $23.6 million spent in Q2'25 [2][18]

Financial Performance - Interfor Corporation reported net earnings of $11.1 million, or $0.22 per share, in Q2'25, a significant recovery from a net loss of $35.1 million in Q1'25 and a net loss of $75.8 million in Q2'24 [1][22][24] - Adjusted EBITDA for Q2'25 was $17.2 million on sales of $780.5 million, compared to $48.6 million on sales of $735.5 million in Q1'25 and an Adjusted EBITDA loss of $16.7 million on sales of $771.2 million in Q2'24 [2][7][19] - The company achieved a 37 million board foot reduction in inventory volume during the quarter, with lumber shipments of 978 million board feet exceeding production by approximately 5% [2][4] Financial Position - Net debt at the end of Q2'25 was $798.0 million, representing 35.6% of invested capital, down from $886.3 million or 37.3% in Q1'25 [2][11][28] - The company generated $84.9 million in positive operating cash flow, aided by a $60.5 million reduction in working capital [2][11] - Interfor completed an early renewal and extension of its Revolving Term Line, increasing the commitment to $562.5 million and extending maturity to July 25, 2029 [2][18] Market Conditions - North American lumber markets are expected to remain volatile due to economic adjustments, tariffs, labor shortages, and geopolitical uncertainties [3][4] - The U.S. Department of Commerce published a final anti-dumping duty rate of 20.56% on Canadian lumber, with an expected incremental expense of approximately $100 million in Q3'25 [2][8] - Canadian lumber is anticipated to remain a key supply source for the U.S. market, despite growth constraints in U.S. lumber manufacturing capacity [5][6] Strategic Initiatives - Interfor's strategy includes maintaining a diversified portfolio of operations to mitigate risks and maximize returns [6][32] - The company sold Coastal B.C. forest tenures for gross proceeds of $8.2 million, reflecting its ongoing efforts to monetize assets [2][11] - Capital expenditures for 2025 are projected to be between $85 million and $95 million, with $23.6 million spent in Q2'25 [2][18]