We See Canfor With a Good Balance Sheet to Weather Near-Term Uncertainty

Canfor is one of the largest softwood lumber producers globally, with over 6 billion board feet of production capacity in western Canada, the Southeastern United States, and Sweden. Homebuilding and remodeling are the main uses of softwood lumber in North America, although Canfor also sells significant volume in Europe and Asia, with both accounting for roughly 30% of sales in recent years. As price-takers, Canfor and its peers see dramatic profit variations, depending on the health of housing markets and overall economic conditions.