Interfor Corp

IFP

Equity

ISIN null / Valor 24422290

Toronto Stock Exchange (2026-03-20)

CAD 8.78+2.45%

Interfor Corp
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About company

Interfor Corporation stands as a significant player in the global forest products industry, boasting operations that span across North America and a customer base that reaches worldwide. The company has established itself with an impressive annual lumber production capacity of around 5 billion board feet, sourced from its state-of-the-art facilities. This capacity positions Interfor as a key supplier in the market, contributing to local economies through job creation and economic activity. Interfor's product portfolio includes high-quality joist products, catering to both residential and commercial sectors for floor and roof construction projects. Through its operations, Interfor emphasizes the importance of sustainable forest management, ensuring that its practices contribute positively to the environment while meeting the demands of its global customer base for sustainable building materials.

Summarized from source with an LLMView SourceSector: Non-Energy Materials

Quarterly financials

Q3’25 sales totaled $689.3M; net loss was $215.8M and Adjusted EBITDA was a loss of $183.8M. On a per‑share basis the loss was $4.19. Excluding the duty-related and revaluation items, Adjusted EBITDA would have been a loss of $36.4M.

Duties and interest impact

Interfor recorded a $147.4M net duties expense in Q3’25 (driven by finalization of AR6 and revaluation of duty deposits for AR1–AR5). The company also recorded a $156.7M increase to duties expense (and $26.1M increase to interest expense) reflecting the amended AR6 combined rate of ~35.16% for 2023. Cumulative duties paid to Sept. 30, 2025 were US$639.8M.

Operations and production

Lumber production was 912 million board feet (down 23M fbm vs. Q2’25) as Interfor implemented temporary curtailments; the company later announced additional Q4’25 reductions of ~250M fbm (≈26% vs Q2’25) to reflect weak demand.

Prices, shipments and inventory

Average selling price fell to $618/mfbm (down $66 vs Q2’25) reflecting a 19.4% quarter‑over‑quarter decline in the SYP Composite benchmark. Shipments were 924M fbm (slightly above production) and an inventory provision of $23.1M was recorded (up from $7.3M in Q2’25).

Balance sheet and liquidity

Net debt at Sept. 30, 2025 was $893.3M (41.6% of invested capital). Pro‑forma for the October bought‑deal equity offering (gross $143.8M) net debt would have been $755.4M and available liquidity about $385.7M; on‑quarter available liquidity at Sept. 30 was $247.9M. Interfor completed an early renewal/extension of its $562.5M Term Line to July 25, 2029.

Capital spending

Capital spending in the quarter was $32.0M (including $17.8M discretionary, largely for the Thomaston, GA rebuild). Full‑year 2025 capex is expected to be $90–95M; 2026 capex estimated at ~ $75M.

Tariffs, outlook and risks

In addition to duty developments, a U.S. Section 232 tariff of 10% on softwood lumber took effect Oct. 14, 2025 (in addition to existing duties). Interfor expects near‑term market volatility from higher duty/tariff exposure, monetary policy and other risks but points to diversified operations (≈60% production/sales in U.S.) and flexibility to cut production and capex if conditions worsen.

Summarized from source with an LLMView Source

Key figures

-44.1%1Y

-63.9%3Y

-67.5%5Y

Performance

44.5%1Y

40.7%3Y

43.1%5Y

Volatility