Canfor Corp reports results for the quarter ended in June - Earnings Summary

Canfor

26/07/2024 22:00

* Canfor Corp  CFP.TO  reported a quarterly adjusted loss of
C$1.42​​ per share for the quarter ended in June, lower than the
same quarter last year, when the company reported EPS of -36
cents.  The mean expectation of four analysts for the quarter
was for a loss of 58 cents per share. Wall Street expected
results to range from -84 cents to -36 cents per share.
    * Revenue fell 4.5% to $1.38 billion from a year ago;
analysts
expected $1.34 billion. 
    * The company reported a quarterly loss of $191.1 million.
    * Canfor Corp shares had risen by 4.5% this quarter and
lost 15.1%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 107.1% in the last three months.​ 
    * In the last 30 days, four analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the forest & wood
products peer group is also "buy"

Wall Street's median 12-month price target for Canfor Corp is
C$20.00 
This summary was machine generated from LSEG data July 26 at
09:00 p.m. UTC. ​All figures in Canadian dollars unless
otherwise stated. (For questions concerning the data in this
report, contact Estimates.Support@lseg.com. For any other
questions or feedback, contact
RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.58          -1.42          Missed
 Mar. 31 2024      -0.66          -0.44          Beat
 Dec. 31 2023      -0.70          -1.06          Missed
 Sep. 30 2023      -0.35          -0.16          Beat