Supported by $56 million from Wells Fargo, Teal Jones Group is poised to resume operations.
Lumber
Adjusted EBITDA was a loss of $22.3 million on sales of $813.2 million in Q1 2024 versus a loss of $51.4 million on sales of $785.9 million in Q4 2023 and Adjusted EBITDA of $26.1 million on sales of $829.9 million in Q1 2023.
Price for lumber imported to Saudi Arabia slid 1.2%.
Timber scarcity and low harvesting prompt Canfor to reconsider sawmill investments.
Whit Gardiner will continue to lead the organization which will be a part of Kodiak’s growing Northwest region.
Net income for the Q1 2024 was $77 million, or $1.36 per share, compared to net income of $60 million, or $1.03 per share, in the corresponding period of 2023.
Exports of lumber from Germany to the U.S. lost 25%.
Exports of lumber from Brazil contracted 17%.
Lower lumber prices and decreased shipments contribute to reduced revenue.
Boise Cascade Company reported net income of $104.1 million, or $2.61 per share.
The transaction, scheduled to close on Friday, May 17th, marks R.P. Lumber’s fourth acquisition this year and its first location in Carroll County.
In the week ending April 26, 2024, the price of Western S-P-F 2x4 #2&Btr KD (RL) was US$408 mfbm, said forest products industry price guide newsletter Madison’s Lumber Reporter. This is flat from the previous week when it was $408.
Price for lumber exported from Sweden to the U.S. downed 5%.
Binational ruling impacts British Columbia's forestry sector
The central warehouse will supply all the company’s 116 Swedish branches with building materials and deliver them directly to construction sites. The new warehouse also enables day-to-day delivery to almost all of Sweden.
The acquisition of Express Pallets & Crates will finalise on 1 July 2024, subject to all Completion Precedents being met.
With this acquisition, Culpeper Wood Preservers adds additional drying capacity for hardwoods and softwoods. Culpeper now has 18 facilities within its footprint.
The Madison’s Lumber Prices Index for the week ending May 03, 2024 was US$417 mfbm.
Exports of lumber from Chile grew 16%.
Exports of lumber from Canada grew 6%.