06:31 AM EST, 03/06/2024 (MT Newswires) -- Canfor Corp. ( CFPZF ) , which owns a majority interest in Canfor Pulp Products Inc. ( CFPUF ) , overnight Tuesday reported a fourth-quarter adjusted net loss of $127.2 million, or $1.06 per share, wider than a loss of $126.8 million, or $1.04 per share, a year earlier.

Analysts polled by Capital IQ expected a loss of $0.70.

Sales for the quarter ended Dec. 31, 2023, were $1.28 billion, down from $1.37 billion a year earlier.

Three analysts surveyed by Capital IQ expected $1.25 billion.

Looking ahead, global lumber market conditions are expected to remain under pressure through the first quarter of 2024, as near-term challenges of affordability are expected to persist, despite recent declines in mortgage rates in the US.

Meanwhile, global softwood kraft pulp markets are projected to be fairly subdued through the first quarter of 2024, the company said.

Meanwhile, Canfor Pulp Products ( CFPUF ) reported a Q4 adjusted net loss of $13.2 million, or $0.20 per share, narrower than a loss of $33.6 million, or $0.52 per share, a year earlier.

Sales for the quarter were $193.9 million, down from $268.1 million a year earlier.