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Bullboard - Stock Discussion Forum Canfor Pulp Products Inc T.CFX

Alternate Symbol(s):  CFPUF

Canfor Pulp Products Inc. is a Canada-based global supplier of pulp and paper products with operations in the central interior of British Columbia (BC). The Company operates through two segments: pulp and paper. The pulp segment includes purchase of residual fiber, and production and sale of pulp products, including Northern Bleached Softwood Kraft (NBSK) pulp and Bleached Chemi-Thermo... see more

TSX:CFX - Post Discussion

Canfor Pulp Products Inc > CFX financials
View:
Post by carbide on Oct 19, 2023 12:33am

CFX financials

Has been at breakeven for years.  $500m share capital, $100m accumulated deficit.  It did pay special dividends in the past, about $150m in 2018 and $100m in 2015.  Otherwise little return.  Amazing how far it's fallen from $27 in 2018.  It's a deep cyclical.  Maybe now is the time for the parent to gobble it up.  As someone said, it's opportunistic, and would likely be the minority's loss in the fullness of time.  Hard to see when the market will turn.  Currently NBSK quite soft with China malaise.  The market remains oversupplied.
Comment by OmahaValue on Oct 19, 2023 11:16am
Well said. The value destruction since 2018 is shocking.  $1.7B market cap to $130M - hence the opportunity.  Markets are still soft but have improved from the lows this summer (June/July) and we should be into postive EBITDA prices for CFX in Q4 (US$750 - US$800) with both Northwood and Intercon running.
Comment by Catscratch on Oct 19, 2023 12:07pm
Most certainly cyclical and evenutally the pulp price will turn.  Interestingly in 2018 CFX' operating income before amortization was $326M ($150M over CFX's current enterpise value of $176M).  The January 2024 NBSK price on the Shanghai exchange is US$850 vs. US$878 2018 average price delivered to China.  Granted there are discounts and shipping costs so that price ...more