Canfor Pulp Products Inc. (“The Company” or “CPPI”) (TSX: CFX) today reported its second quarter of 2023 results(1): Overview Financial Results The following table summarizes selected financial information for CPPI for the comparative periods: The Company reported an operating loss of $37.9 million for the second quarter of 2023, compared to an operating loss of […]
Mohawk Industries Reports Q2 Results
Mohawk Industries, Inc. (NYSE: MHK) today announced second quarter 2023 net earnings of $101 million and diluted earnings per share (“EPS”) of $1.58. Adjusted net earnings were $176 million, and adjusted EPS was $2.76, excluding restructuring, acquisition and other charges. Net sales for the second quarter of 2023 were $3.0 billion, a decrease of 6.4% as reported and 9.6% on a legacy […]
Fortune Brands Delivers Solid Sales and Strong Margin Results Amid Dynamic Macro Environment; Increases Full-Year 2023 Guidance
Highlights: Fortune Brands Innovations, Inc. (NYSE: FBIN or “Fortune Brands” or the “Company”), an industry-leading home, security and commercial building products company, today announced second quarter 2023 results and increased its full-year 2023 sales, EPS before charges / gains and free cash flow guidance. “Our Company continued to leverage its core strengths in brand, innovation […]
CPKC Reports Second-Quarter Results
Canadian Pacific Kansas City (TSX: CP) (NYSE: CP) (CPKC) today announced its second-quarter results, including revenues of $3.2 billion, diluted earnings per share (“EPS”) of $1.42 and core adjusted combined diluted EPS1 of $0.83. “This quarter we made history by completing our transformational combination to create the first single-line transnational railroad linking Canada, the United States and […]
Weyerhaeuser Reports Second Quarter Results
Weyerhaeuser Company (NYSE: WY) today reported second quarter net earnings of $230 million, or 31 cents per diluted share, on net sales of $2.0 billion. This compares with net earnings of $788 million, or $1.06 per diluted share, on net sales of $3.0 billion for the same period last year and net earnings of $151 million for first quarter 2023. Excluding an after-tax charge of $8 million for special […]
U.S. Lumber Coalition Supports the Continued Strong Enforcement of the U.S. Trade Laws to Address Canada’s Unfair Softwood Lumber Trade Practices
The U.S. Department of Commerce announced the final determination of a combined anti-subsidy and anti-dumping duty rate of 7.99% in the fourth annual review of unfairly traded Canadian softwood lumber imports into the United States. The review covers lumber imported in calendar year 2021. “The softwood lumber trade cases help offset Canadian lumber subsidies and dumping, […]
Freddie Mac: Mortgage Rates Inch Up
Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.81 percent. “Mortgage rates inched up slightly after a significant decline last week,” said Sam Khater, Freddie Mac’s Chief Economist. “Higher interest rates continue to dampen activity in interest rate-sensitive sectors, such as housing. However, overall U.S. consumer […]
US Mortgage Delinquency Rate Drops to All-Time Low in May CoreLogic Reports
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for May 2023. For the month of May, 2.6% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure), representing a 0.1 percentage point decrease compared […]
NAR: Pending Home Sales Rose 0.3% in June, First Increase in Four Months
Pending home sales registered a modest increase of 0.3% in June from the previous month – the first increase since February – according to the National Association of REALTORS®. The South and West posted monthly losses, while sales in the Northeast and Midwest grew. All four U.S. regions saw year-over-year declines in transactions. Key Highlights […]
West Coast Lumber Names New Vice President of Component Manufacturing
West Coast Lumber (“WCL”), the regional lumber and building materials supplier launched by Building Industry Partners in 2022, announces the addition of Jason Walsh to its leadership team. Walsh will serve as the company’s Vice President of Component Manufacturing and will be responsible for leading its strategy in the category. WCL currently serves customers throughout […]