Ticker
$ICLTF
Industry
Building Products
Type
Merger
Rating
Covered
Category
Option
Notes
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Resources
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- Highlights
- Second quarter 2022 (“Q2 2022”) net earnings were $29.5 million or $0.15 per share (diluted), compared to $34.0 million or $ 0.18 per share in the first quarter of 2022 (“Q1 2022”). This was the Company’s third full quarter operating its acquired forest-products assets.
- Q2 2022 Adjusted EBITDA was $54.3 million, a 21% increase compared to Adjusted EBITDA in Q1 2022. Adjusted EBITDA before duties expensed for Q2 2022 was $76.6 million, compared to $61.3 million in Q1 2022.
- Lumber pricing remained strong in Q2 2022, with an average selling price of $1,255/mfbm compared to $1,325/mfbm in Q1 2022. Rising interest rates and inflation headwinds, coupled with macro supply tightening and the risk of disruptions to lumber supply underlies our expectation of continued volatility in lumber prices.