Canfor Corp T.CFP

Alternate Symbol(s): CFPZF

Forest Products Lumber & Wood Production

Canfor Corporation is an integrated forest products company. The Company operates through two segments: lumber segment and pulp and paper segment. The Company’s solid wood products include dimension lumber, specialty lumber and engineered wood products. The dimension lumber products include Spruce Pine Fir (SPF), Southern Yellow Pine (SYP), Douglas Fir Larch (DFL) and Canfor Red. The specialty lumber products include Balfour Boards, WynnWood Boards, Decking/Fascia, Lamstock, Long Lengths, Shop/Clears and Access Mat Lumber. Its Pulp products include Bleached Softwood Kraft Pulp and Unbleached Softwood Kraft Pulp. Its paper products include Bleached Kraft, Coloured Kraft and Unbleached Kraft. It also has bioenergy products. It also produces green energy in its lumber and pulp facilities across North America. The Western Canadian operations produce superior SPF lumber from sustainably managed forestlands. It is used for construction projects in North America and around the globe.

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Canfor Corp > Management is so inept

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Post by Apaulsonon Oct 29, 2023 7:54am

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Post# 35706138

Management is so inept

Thanks to management's horrible performance, CFP
is actually trading lower at a lower value than it was back in August
of 2019, before Jimmy Pattison made his takeover offer, and
this doesn't even take into account the duties on deposit.

	05-Aug-19	27-Oct-23
Share Price	$ 8.80	$ 14.12
Shares Outstanding	125,200,000	119,785,179
	1,101,760,000	1,691,366,727
Add Net Debt / Net Cash	697,480,000	- 592,000,000
Enterprise Value	1,799,240,000	1,099,366,727
Enterprise Value per Share	14.37	9.18


Duties on Deposit		908,700,000
Recovery Estimate		55%
		499,785,000
Shares Outstanding		119,785,179
Estimated Duties to be Recovered per Share		4.17


Enterprise Value less Duties		5.01


$5.01 today vs. $14.37 back on August 5, 2019

Pattison was right not to increase his offer, but only because the management he put in
place was inept and ran the company so poorly and underperformed
the rest of the industry.