Interfor's Sales Increased to $479.6 Million in 1Q
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Interfor Corporation recorded net earnings in 1Q 2020 of $6.3 million, or $0.09 per share, compared to net losses of $41.7 million, or $0.62 per share in 4Q 2019 and $15.3 million, or $0.23 per share in 1Q 2019. Adjusted net earnings were $0.7 million in 1Q 2020 compared to Adjusted net losses of $17.4 million in 4Q 2019 and $12.7 million in 1Q 2019. 1Q 2020 sales were $479.6 million, compared to $451.2 million in the 1Q 2019.
Adjusted EBITDA was $36.6 million on sales of $479.6 million in 1Q 2020 versus $17.6 million on sales of $456.8 million in 4Q 2019. Net debt ended the quarter at $322 million, or 26.7% of invested capital, resulting in available liquidity of $430.9 million.
Interfor is a growth-oriented forest products company with operations in Canada and the United States. The Company has annual production capacity of approximately 3.0 billion board feet and offers one of the most diverse lines of lumber products to customers around the world.
