Canfor reports $142M Q1 loss compared with a profit a year ago

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.