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Burnaby , B.C. INTERFOR Building ValueTM Interfor Corporation Interfor Reports Record Q2'21 Results EBITDA¹ of $ 611 million on Sales of $ 1.1 billion August 05 , 2021 Net Cash Position and Available Liquidity of $ 1.2 billion INTERFOR CORPORATION ( " Interfor " or the " Company " ) ( TSX : IFP ) recorded Net earnings in Q2'21 of $ 419.2 million , or $ 6.45 per share , compared to $ 264.5 million , or $ 4.01 per share in Q1'21 and $ 3.2 million , or $ 0.05 per share in Q2'20 . Adjusted net earnings in Q2'21 were $ 433.5 million compared to $ 270.6 million in Q1'21 and $ 10.6 million in Q2'20 . Robust lumber prices in North America and strong operating performance during the second quarter of 2021 led to Interfor realizing record financial results , including records for Net earnings , Adjusted EBITDA and cash flow from operations . Adjusted EBITDA was $ 611.3 million on sales of $ 1.1 billion in Q2'21 versus $ 392.1 million on sales of $ 849.3 million in Q1'21 . $ 484.5 million of cash flow was generated from operations before changes in working capital , or $ 7.46 per share . These record financial results bolstered Interfor's balance sheet and enabled the deployment of a significant amount of capital in the quarter . Interfor's balanced approach to capital allocation included growth through a four - sawmill acquisition and strategic capital expenditures , and rewarding shareholders with returns of capital through share repurchases and a special cash dividend . Even with a significant amount of capital deployed in the quarter , Interfor's balance sheet remains very well positioned to support further strategic investment . Net debt ended the quarter at $ ( 490.7 ) million , or ( 46.1 ) % of invested capital , resulting in available liquidity of $ 1.2 billion . Notable items in the quarter : • Record Production Balanced with Shipments ○ Total lumber production in Q2'21 was 716 million board feet , representing an increase of 29 million board feet quarter - over - quarter and setting an Interfor production record . The U.S. South and U.S. Northwest regions accounted for 387 million board feet and 137 million board feet , respectively , compared to 338 million board feet and 141 million board feet in Q1'21 . The Summerville sawmill , acquired March 12 , 2021 , contributed to the increased output in the U.S. South region with a full quarter of its production . Production in the B.C. region decreased to 192 million board feet from 208 million board feet in the preceding quarter . Total lumber shipments were 714 million board feet , or 48 million board feet higher than Q1'21 . Interfor's average selling price was $ 1,419 per mfbm , up $ 276 per mfbm versus Q1'21 . The key benchmark prices increased quarter - over - quarter with the SYP Composite , Western SPF Composite and KD H - F Stud 2x4 9 ' benchmarks increasing by US $ 113 , US $ 384 and US $ 447 per mfbm to US $ 1,028 , US $ 1,319 and US $ 1,609 per mfbm , respectively . Strategic Capital Investments о Capital spending was $ 40.6 million , including $ 24.2 million on high - return discretionary projects . The majority of this discretionary spending was focused on the ongoing multi - year rebuild of the Eatonton , GA sawmill , which will be substantially complete in Q4′21 . Inclusive of 1 Refer to Adjusted EBITDA in the Non - GAAP Measures section