VANCOUVER, British Columbia -- Conifex Timber Inc., propelled by the historic run of rising lumber prices, reported a first-quarter profit of $4.5 million for the first quarter versus a net loss of $7.7 million for Q1 2020.
While the company’s lumber sales jumped from $20.9 million in Q1 2020 to $39.9 million in Q1 2019, they actually dipped from the $42 million reported in Q4 2020 due to reduced shipments reflecting railcar shortages. Conifex said it was only able to ship 10 weeks of lumber production during the 13-week quarter.
Conifex said it produced 37.8 million board feet of lumber in Q1 2021 versus 49.1 million board feet in Q4 2020, a 23% decrease.
Conifex said it expects lumber markets to remain strong in 2021, “supported by robust demand from U.S. housing starts and continued strength in the repair and remodeling sector.”
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