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Interfor Achieves Strong Q3 2023 Results

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Interfor Reports Strong Q3 2023 Results

Interfor Corporation (TSX: IFP) has announced its financial results for the third quarter of 2023. The company recorded a net loss of $42.4 million, or $0.82 per share, compared to a net loss of $14.1 million, or $0.27 per share in Q2'23 and net earnings of $3.5 million, or $0.06 per share in Q3'22. Despite the net loss, Interfor achieved adjusted EBITDA of $31.9 million on sales of $828.1 million in Q3'23, demonstrating its strong operational performance. The company's lumber production and shipments were slightly lower compared to the previous quarter due to the temporary closure of a sawmill in British Columbia caused by wildfires. However, Interfor's average selling price for lumber increased to $661 per mfbm. The company also improved its financial flexibility with net debt at quarter-end of $777.7 million, representing 28.7% of invested capital, and available liquidity of $417.9 million. Interfor remains well-positioned to navigate the volatile lumber markets and pursue its strategic plans for future growth.

Interfor's Q3 2023 Results: A Learning Curve for New Businesses

Interfor Corporation's Q3 2023 financial results, despite showing a net loss, hold valuable lessons for new businesses. The company's ability to achieve an adjusted EBITDA of $31.9 million on sales of $828.1 million, despite a net loss of $42.4 million, is a testament to its robust operational performance and resilience.

Dealing with External Challenges

Interfor's experience with the temporary closure of a sawmill due to wildfires, resulting in slightly lower lumber production and shipments, is a stark reminder for startups about the potential impact of external factors on business operations. However, the company's ability to increase its average selling price for lumber to $661 per mfbm underlines the importance of strategic pricing and market understanding.
Financial Flexibility and Future Growth
Interfor's improved financial flexibility, with net debt representing 28.7% of invested capital and available liquidity of $417.9 million, offers a blueprint for new businesses on managing finances. The company's positioning to navigate volatile lumber markets and pursue strategic growth plans highlights the need for startups to remain adaptable and forward-looking, even in challenging market conditions. In essence, Interfor's Q3 2023 performance provides a roadmap for new businesses seeking to navigate market volatility and achieve sustainable growth.
Story First Published at: https://financialpost.com/globe-newswire/interfor-reports-q323-results
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