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.
West Fraser Timber Co. Ltd. (TSX: WFG, NYSE: WFG) announced the preliminary results of its substantial issuer bid, offering to repurchase up to US$1.25 billion of common shares. The bid expired on June 2, 2022, with preliminary calculations indicating that approximately 11.898 million shares will be purchased at about US$95 each, totaling approximately US$1.130 billion. All shareholders who participated in the auction tenders and purchase price tenders are expected to have their shares purchased. The repurchase may have Canadian tax implications as a deemed dividend.
West Fraser Timber reported Q1 2022 sales of $3.110 billion and net earnings of $1,090 million ($10.25 per diluted share), marking significant growth from Q4 2021. Adjusted EBITDA also surged to $1.592 billion, representing 51% of sales. Although transportation challenges impacted supply, strong product demand mitigated these issues. The company increased its dividend to $0.25 per share and launched a substantial issuer bid of up to $1.25 billion for share repurchase. Concerns about rising interest rates could affect housing demand in North America.
On April 20, 2022, West Fraser Timber Co. Ltd. (WFG) held its Annual General and Special Meeting in Quesnel, BC, where 79.68% of shares were voted. Shareholders approved the election of all director nominees with strong support. Hank Ketcham and Reid E. Carter received 97.10% and 98.12% of votes in favor, respectively. Other key approvals included appointing PricewaterhouseCoopers LLP as the auditor and a corporate Articles amendment with 99.37% support. The Company continues to focus on diversified wood products across various markets.
West Fraser Timber Co. Ltd. (WFG) announced a substantial issuer bid to purchase up to US$1.25 billion of its common shares via a modified Dutch auction. Shareholders can submit tenders at prices between US$80.00 and US$95.00 per share, with the offer starting on April 26, 2022 and expiring on June 2, 2022. The offer aims to repurchase approximately 15% of outstanding shares. West Fraser will fund these repurchases through available cash, and any shares not purchased will be returned to shareholders.
West Fraser Timber Co. Ltd. (WFG) announced a strategic shift at its Hinton, Alberta pulp mill, permanently reducing capacity by ceasing one production line. The remaining line will transition to producing Unbleached Kraft Pulp (UKP) instead of Northern Bleached Softwood Kraft Pulp (NBSK). This change aims to reduce operational costs and greenhouse gas emissions by approximately 35%. The adjustment will lower staffing from 345 to 270, with plans to mitigate impacts through attrition and redeployment. An impairment charge of about US$13 million is anticipated in Q1 2022 due to equipment write-downs.
West Fraser Timber Co. Ltd. (WFG) announced a conference call scheduled for April 29, 2022, at 8:30 a.m. PT to discuss its first quarter 2022 financial and operational results. Interested participants can join via phone or webcast. The results will be released on April 28, 2022. West Fraser operates over 60 facilities across Canada, the U.S., the U.K., and Europe, producing a range of wood products and renewable energy from sustainably sourced resources. The company focuses on markets including home construction, industrial applications, and packaging materials.
West Fraser Timber Co. Ltd. (WFG) will participate in the Raymond James 43rd Annual Institutional Investors Conference on March 7, 2022. The event features a conversation with President & CEO Ray Ferris at 3:25 p.m. Eastern Time. Interested parties can access the live webcast on the company's website, with a replay available afterward. West Fraser is a diversified wood products company operating over 60 facilities across Canada, the U.S., the U.K., and Europe, producing a wide array of wood products for construction, industrial applications, and renewable energy.
West Fraser Timber Co. Ltd. (WFG) has announced the renewal of its normal course issuer bid (NCIB), allowing the purchase of up to 10,194,000 common shares, which is around 10% of the public float as of February 14, 2022. The NCIB will commence on February 23, 2022, and will last until February 22, 2023, or until the authorized shares are repurchased. The company plans to utilize an automatic purchase plan for market purchases, and it previously repurchased 7,340,311 shares at an average price of US$75.07. All shares acquired will be canceled.
West Fraser Timber Co. Ltd. (TSX and NYSE: WFG) announced a commitment to significant greenhouse gas (GHG) reductions by 2030 through the Science Based Targets Initiative (SBTi). The company aims to reduce Scope 1 and Scope 2 emissions by 46.2% and Scope 3 emissions by 25% from respective base years. Investments of approximately $400 million are planned to achieve these targets. This commitment underscores West Fraser's dedication to sustainability and aligns with the Paris Agreement goals, promoting long-term social and economic benefits in the communities they serve.
West Fraser Timber Co. Ltd. (WFG) reported strong financial results for 2021, with annual sales of $10.518 billion and earnings of $2.947 billion, translating to $27.03 per diluted share. In Q4, sales reached $2.038 billion, resulting in earnings of $334 million, or $3.13 per diluted share. The company declared a dividend of $0.25 per share, payable on April 5, 2022. However, challenges such as disrupted logistics and inflationary pressures are expected to impact operations in 2022, with potential declines in shipments and adjustments in production schedules.
