Welcome to our dedicated page for West Fraser Timber Co. news (Ticker: WFG), a resource for investors and traders seeking the latest updates and insights on West Fraser Timber Co. stock.
West Fraser Timber Co. Ltd. (WFG) is a leading diversified wood products company with a global presence and over 60 manufacturing facilities located in Canada, the United States, the United Kingdom, and Europe. The company produces a wide array of wood products including lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, wood chips, and other residuals, as well as renewable energy. West Fraser’s products are widely used in home construction, repair and remodeling, industrial applications, papers, tissue, and box materials.
Founded in 1955, West Fraser has grown significantly over the years, notably becoming one of the world's largest producers of oriented strand board (OSB) following its acquisition of Norbord in 2021. The company is known for its commitment to sustainability, sourcing materials from responsibly managed forest resources.
Recent milestones include the signing of an agreement to sell its Quesnel River Pulp mill in Quesnel, British Columbia and Slave Lake Pulp mill in Slave Lake, Alberta to Atlas Holdings, a transaction valued at US$120 million. This strategic move aims to enable West Fraser to focus on its core objective of being the premier wood building products company in North America.
Financially, West Fraser has shown resilience in the face of market challenges. For the third quarter of 2023, the company reported sales of $1.705 billion and earnings of $159 million, reflecting a strategic focus on operational excellence and sustainability initiatives. Despite a challenging demand market, particularly in the Lumber segment, the North American engineered wood products (EWP) business saw its best results in several quarters.
In 2024, West Fraser continues to optimize its portfolio, including the acquisition of Spray Lake Sawmills in Cochrane, Alberta, enhancing its footprint in the treated wood business. The company remains focused on long-term growth opportunities and maintaining a strong balance sheet to support future investments and innovation in its product lines.
West Fraser has been recognized for its corporate culture, being named one of Canada's 10 Most Admired Corporate Cultures in 2014 and one of Canada’s Top 100 Employers multiple times. The company continues to innovate and invest in modern, competitive manufacturing facilities, product innovation, and bioenergy, securing a bright future for its operations and stakeholders.
For more information about West Fraser and its latest developments, visit www.westfraser.com.
West Fraser Timber Co. Ltd. (WFG) announced a planned curtailment of operations at Cariboo Pulp & Paper in Quesnel, British Columbia. This suspension will start in mid-April for one month and again in the third quarter. The decision stems from a decline in sawmill residual availability due to factors like infestation, fire, and government policies impacting fibre supply in British Columbia. During the downtime, the company intends to mitigate employee impacts through vacation scheduling and alternative work assignments.
West Fraser Timber Co. Ltd. (NYSE: WFG) announced an upcoming analysts' conference call to discuss its fourth quarter 2022 financial results, scheduled for February 15, 2023, at 8:30 a.m. PT. Participants can join via telephone at 1-888-390-0605 or (416) 764-8609, or through a webcast. The company's financial results will be made available a day prior, on February 14, 2023. West Fraser operates over 60 facilities across Canada, the U.S., the UK, and Europe, producing a range of wood products.
West Fraser Timber Co. Ltd. (WFG) announced the indefinite curtailment of its Perry Sawmill in Florida due to high fiber costs and declining lumber market prices. This decision will impact around 126 employees and reduce US lumber production by 100 million board feet. The company aims to mitigate the effect on workers by offering opportunities at other facilities. An impairment charge is expected in Q4 2022 related to this curtailment, reflecting the challenges in maintaining profitable operations under current market conditions.
West Fraser Timber Co. Ltd. (WFG) has announced a quarterly dividend of US$0.30 per share, payable on January 13, 2023, for shareholders of record on December 30, 2022. The dividend is classified as an eligible dividend under Canadian tax regulations. Shareholders have the option to receive their dividends in Canadian dollars. West Fraser operates over 60 facilities across Canada, the U.S., the UK, and Europe, producing a range of wood products essential for construction and industrial applications.
West Fraser Timber Co. Ltd. (WFG) reported Q3 2022 sales of $2.088 billion and earnings of $216 million, a decline from previous quarters. Adjusted EBITDA stood at $426 million, down from $1.124 billion in Q2 2022. The company repurchased 2.224 million shares for $182 million. Despite improved transportation challenges, rising inflation and slowing demand have impacted performance. A new lumber manufacturing complex in Texas is planned, with an estimated investment of $255 million. Long-term growth is anticipated in the housing sector, but short-term challenges remain due to rising interest rates and macroeconomic pressures.
West Fraser Timber Co. Ltd. (WFG) will host an analysts' conference call on October 27, 2022, at 8:30 a.m. PT to discuss its third quarter 2022 financial results. Interested participants can join by dialing 1-888-390-0605 or (416) 764-8609 for international calls, or through a webcast available on their website. The financial results will be released on October 26, 2022. The call will be led by Ray Ferris, President and CEO, and will allow for Q&A from analysts.
West Fraser Timber Co. Ltd. (WFG) announced a quarterly dividend of US$0.30 per share, scheduled for payment on October 7, 2022. Shareholders of record by September 22, 2022 will receive this dividend, which is classified as an eligible dividend under Canadian tax law. Shareholders can opt to receive dividends in either U.S. or Canadian dollars. West Fraser is a diversified wood products company operating over 60 facilities across Canada, the United States, the United Kingdom, and Europe, specializing in sustainably sourced wood products.
West Fraser Timber Co. Ltd. (WFG) announced permanent production curtailments of approximately 170 million board feet from its Fraser Lake and Williams Lake sawmills and 85 million square feet of plywood at its Quesnel mill. This decision will affect 77 positions at Fraser Lake, 15 positions at Williams Lake, and 55 positions at Quesnel, with changes implemented in Q4 2022. The curtailments aim to align production capacity with the challenges of timber accessibility and transportation issues in British Columbia.
West Fraser Timber Co. Ltd. (WFG) reported Q2 2022 results revealing sales of $2.887 billion and earnings of $762 million or $7.59 per diluted share. Adjusted EBITDA was $1.124 billion, 39% of sales. The company returned $1.475 billion to shareholders through buybacks and dividends. Challenges included transportation issues and inflationary pressures, but demand for wood products remains robust. Forecasts suggest SPF lumber shipments may be lower than projected, while OSB shipments are slightly down. Capital expenditures are expected to be near $500 to $600 million.
West Fraser Timber Co. Ltd. (WFG) issued a statement addressing recent market speculation about potential transactions involving the company. While they have met with existing shareholder Kronospan and CVC Capital Partners, they confirmed that no proposals have been received and no discussions are ongoing. The company remains committed to its business strategy focused on enhancing shareholder value.
West Fraser operates over 60 facilities across Canada, the U.S., U.K., and Europe, producing a diverse range of wood products.
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