Canada's GreenFirst Q2 sales rise sequentially on higher prices and shipments; CEO to resign

GreenFirst Forest Products

11/08/2026 01:10

Overview
Canada lumber producer's Q2 net sales rose 59% from prior qtr on higher shipments and prices
Company posted positive net income and adjusted EBITDA after prior qtr losses
Company announced CEO Joel Fournier resignation, to be effective Oct 31, 2026; transition plan underway

Outlook
GreenFirst says near-term lumber demand may remain below mid-cycle levels due to economic uncertainty
Company expects long-term lumber demand to be supported by U.S. housing supply deficit and demographics
GreenFirst cites stable Ontario timber supply and ongoing efficiency investments as supporting operational resilience

Result Drivers
HIGHER LUMBER PRICES - Co said improved market conditions and tighter North American supply led to higher realized prices in Q2
INCREASED SHIPMENTS - Co attributed higher net sales to increased shipment volumes in Q2
INVENTORY VALUATION REVERSAL - Co said reversal of inventory provision boosted results due to stronger prices and improved inventory mix

Company press release: ID:nBw4hHMkRa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
 
C$96.10 mln
 

Reuters Recommended Reads
Aug 8 - British Columbia declares state of emergency as more than 20,000 flee wildfires
Aug 10 - Octogenarian is first killed in British Columbia wildfire
Aug 10 - Canadian cannabis producer Village Farms beats 'Q2 sales, EPS estimates on record yields, exports

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)