Conifex Announces Third Quarter 2023 Results

VANCOUVER, British Columbia, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Conifex Timber Inc. (“Conifex”, “we” or “us”) (TSX: CFF) today reported results for the third quarter ended September 30, 2023.  EBITDA* was negative $6.7 million for the quarter compared to EBITDA of $4.2 million in the third quarter of 2022. The third quarter results were favourably impacted by $1.7 million in recoveries of duty deposit overpayments which were more than offset by $2.4 million in further inventory write-downs that were taken in response to lower lumber prices and after disposing of a logging camp that was lost in a wildfire this summer for $0.6 million. Net loss was $8.0 million or $0.20 per share for the quarter versus net income of $0.9 million or $0.02 per share in the year-earlier quarter. The results reflect reduced operating earnings on lower lumber prices.

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