05:27 PM EDT, 10/30/2024 (MT Newswires) -- Acadian Timber ( ACAZF ) reported third quarter profit declined by two-thirds, primarily due to lower non-cash fair value adjustments. .

The company said it earned $2.2 million, or $0.13 per share, in the quarter, down from $6.4 million, or $0.37, in the year-prior period.

Sales of $26 million were slightly lower than the $26.6 million in the prior year period. Increased sales volumes from freehold land were offset by a lower weighted average selling price and lower timber services activity, Acadian said.

The company's shares closed up $0.13 to $18.42 on the Toronto Stock Exchange.