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West Fraser Timb - WFG STOCK NEWS

Welcome to our dedicated page for West Fraser Timb news (Ticker: WFG), a resource for investors and traders seeking the latest updates and insights on West Fraser Timb stock.

West Fraser Timber Co. Ltd. (WFG) is a global leader in diversified wood products manufacturing, producing softwood lumber, engineered wood panels, and pulp solutions for construction and industrial markets. This news hub provides investors and industry professionals with timely updates on corporate developments, operational milestones, and strategic initiatives shaping North America's largest lumber producer.

Access comprehensive coverage of earnings announcements, acquisition updates, and sustainability progress, including the company's advancements in sustainable forestry practices and manufacturing innovations. Our curated collection features official press releases alongside third-party analysis of market trends affecting WFG's operations across Canada, the United States, and Europe.

Key content categories include quarterly financial results, production capacity expansions, leadership changes, environmental stewardship initiatives, and product innovation announcements. The repository serves as a neutral, factual resource for tracking how WFG navigates commodity price cycles, supply chain dynamics, and evolving building material demands.

Bookmark this page for streamlined access to West Fraser Timber's latest corporate communications and expert perspectives on its position within the global forest products sector. Check back regularly for updates reflecting the company's ongoing commitment to operational efficiency and responsible resource management.

Rhea-AI Summary
West Fraser Timber Co. Ltd. announces the renewal of its normal course issuer bid to repurchase up to 3,971,380 common shares, representing 5% of outstanding shares. The bid aims to return capital to shareholders, believing the shares are undervalued. Purchases can be made on TSX, NYSE, and alternative trading systems. The bid will terminate on Feb 28, 2025, or earlier if the maximum shares are repurchased.
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West Fraser Timber Co. Ltd. reported fourth quarter and annual results for 2023, highlighting sales of $1.514 billion and a loss of $153 million in Q4-23. The company's Adjusted EBITDA was $97 million for the quarter. Despite challenges, West Fraser made progress in portfolio optimization through acquisitions and divestitures. The company repurchased shares, completed acquisitions, and announced mill closures. Sean McLaren became the new CEO. The outlook remains positive for North American home construction markets, while risks persist in Europe. Operational guidance for 2024 includes shipment expectations and cost forecasts.
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West Fraser Timber Co. Ltd. has completed the sale of its Hinton Pulp mill to Mondi Group plc, following regulatory reviews and satisfaction of closing conditions. The company expresses gratitude to employees, the community of Hinton, and the Government of Alberta for their support. The future of the Hinton Pulp mill is promising, and West Fraser will continue to provide support through a long-term fibre supply agreement.
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West Fraser Timber Co. Ltd. will hold an analysts' conference call to discuss fourth quarter 2023 financial and operating results on February 15, 2024. The call will be chaired by Mr. Sean McLaren, President, and CEO. The call will be recorded for webcasting purposes and will be available on the company's website. The financial and operating results will be released on February 14, 2024.
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West Fraser Timber Co. Ltd. announced the permanent closure of its sawmill in Fraser Lake, British Columbia, impacting approximately 175 employees. The closure is due to the company's inability to access economically viable fibre in the region. West Fraser expects to mitigate the impact by providing work opportunities at other operations. The mill closure will reduce West Fraser's Canadian lumber capacity by approximately 160 million board feet. The company anticipates recording restructuring and impairment charges of approximately $81 million in the fourth quarter of 2023 related to facility closures and curtailments.
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West Fraser Timber Co. Ltd. (WFG) to Close Sawmill in Florida and Curtail Operations in Arkansas, Impacting 220 Employees and Reducing U.S. Lumber Capacity by 270 Million Board Feet
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West Fraser Timber Co. Ltd. (WFG) has declared a quarterly dividend of US$0.30 per share on the Common shares and Class B Common shares, payable on January 15, 2024. The company also announced the appointment of Sean McLaren as the new President and CEO, succeeding Ray Ferris.
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West Fraser Timber Co. Ltd. (WFG) Completes Acquisition of Spray Lake Sawmills in Cochrane, Alberta
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West Fraser Timber reports Q3-23 results with sales of $1.705B and earnings of $159M. Adjusted EBITDA at $325M. Company announces acquisition of Spray Lake Sawmills for CAD$140M and sale of two pulp mills for $120M. CEO to retire and new CEO appointed. Outlook remains positive for new home construction and wood building products.
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West Fraser Timber Co. Ltd. to hold analysts' conference call to discuss Q3 2023 financial and operating results.
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NYSE:WFG

WFG Rankings

WFG Stock Data

5.83B
52.78M
31.77%
50.97%
0.96%
Lumber & Wood Production
Basic Materials
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