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Interfor Corp T.IFP

Alternate Symbol(s):  IFSPF

Interfor Corporation is a Canada-based forest products company. The Company and its subsidiaries produce wood products in Canada and the United States for sale to markets around the world. It operates through the solid wood products segment. The Company’s product categories include Dimension Lumber, Specialty Lumber and Engineered Wood Products. Its products include Spruce-Pine-Fir, Douglas Fir-Larch, Hem-Fir, Southern Yellow Pine, Western Red Cedar, Douglas Fir-Larch, and P3-Joist. Its sawmills provide a diverse range of sustainable products to supply North American markets with a complete offering of framing materials. Its Western Red Cedar products include Elite Decking, Elite Fascia & Boards, Elite V-Joint Paneling, Elite Fineline Paneling, Elite Channel/Lap Siding, Elite Bevel Siding and Elite Shadow Gap Siding. It has an annual lumber production capacity of approximately 5.0 billion board feet and offers a diverse line of lumber products to customers around the world.


TSX:IFP - Post by User

Comment by dosperroson Apr 26, 2022 9:24am
214 Views
Post# 34631603

RE:First taste of Earning reporting

RE:First taste of Earning reporting
You're hitting it out of the park on the analysis. This is plus DR Horton is top notch.
 
I've used PCH as a leading indicator before and it is illuminating. The moral of the story here is they clocked in at 38% EBITDA margins ($113M on $296M sales). That's $410/mfbm, implying a highly elevated cost basis (that's fine).
 
They may be about 5% to 8% higher than IFP and WFG (and 10% higher than RFP) on realizations, so we can use ~$1000/mfbm USD for those names. They should not have that high a cost basis however (no PNW exposure).  So looks look for $500 margins for the big 3 Canadian names.  Onward and upwards.
 
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