Canfor reports $142M Q1 loss compared with a profit a year ago
BNN Bloomberg
Canfor Corp. reported a loss in its first-quarter compared with a profit a year ago as its lumber operations in Western Canada faced lower prices.
Canfor chief executive Don Kayne says it was another challenging quarter for the company's lumber business.
The Vancouver-based forestry company says strong earnings from its European operations and more modest results from its operations in the U.S. South were outweighed by continued pricing pressure on its western Canadian operations.
Canfor says it lost $142.0 million or $1.17 per diluted share for the quarter ended March 31 compared with a profit of $534.0 million or $4.29 per diluted share a year earlier.
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Global benchmarks mostly rebounded Tuesday, in a mood of cautious relief after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war.
It’s that time of the year again, tax time, a time to file your annual return with the Canadian Revenue Agency.
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U.S. President Donald Trump on Monday said the U.S. was talking with a “respected” Iranian leader and claimed the Islamic Republic was eager for a deal to end the war. He also extended a deadline for Iran to reopen the crucial Strait of Hormuz or face attacks on its power plants, saying it has an additional five days.
Berkshire Hathaway, the conglomerate built by Warren Buffett, is buying a 2.49 per cent stake in Japanese insurer Tokio Marine Holdings for about US$1.8 billion as part of a new strategic partnership, deepening its financial commitment to Japan.
Relief is ripping through financial markets after U.S. President Donald Trump said the United States has talked with Iran about a possible end to their war, despite Iran’s denials.
Asset management giant BlackRock’s CEO Larry Fink urged clients to stay invested despite ongoing market volatility, and highlighted that artificial intelligence is reshaping investment strategies and the broader economy.
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