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) has announced the acquisition of the Angelina Forest Products lumber mill in Lufkin, Texas, for approximately $300 million. The deal is subject to regulatory approvals and is expected to close soon. This facility, capable of producing 305 million board feet of southern yellow pine lumber annually, enhances West Fraser's U.S. operations and will lead to annual synergies of around $13 million within two years. The acquisition is anticipated to yield a mid-cycle Adjusted EBITDA multiple of 6.4x and an internal rate of return of 13%.
West Fraser Timber Co. Ltd. (WFG) will host an analysts' conference call on October 28, 2021, at 8:30 a.m. PT to discuss its third quarter 2021 financial and operational results. Interested participants can dial 1-888-390-0605 or 416-764-8609 to join the call. The results are set to be released the day prior, on October 27, 2021. West Fraser operates over 60 facilities across Canada, the US, the UK, and Europe, producing a variety of wood products used in construction and industrial applications.
West Fraser Timber has declared a quarterly dividend of C$0.25 per share, payable on October 5, 2021, to shareholders of record on September 23, 2021. The Company is adjusting output at various facilities due to wildfires in British Columbia and slowing orders, affecting production by 5%-10% in early Q3. These adjustments will persist through the quarter depending on external factors. A further operational update is expected with the Q3 earnings release on October 27.
West Fraser Timber Co. Ltd. (WFG) will host a virtual analyst and investor event on September 16, 2021, starting at 11:00 a.m. PT. This two-hour event will feature updates on strategic initiatives, Norbord integration, and sustainability efforts. Senior management will present and engage with participants during a Q&A session. Interested parties can register via West Fraser's official website. The company operates over 60 facilities across several regions, producing various wood products for construction and industrial needs.
West Fraser Timber Co. Ltd. (WFG) announced the completion of its substantial issuer bid (SIB), purchasing 10,309,278 common shares at C$97.00 each for a total of C$1.0 billion. This represents approximately 8.7% of total outstanding shares. The SIB was oversubscribed, with 13,708,784 shares tendered. Shareholders who submitted auction tenders at or below C$97.00 had about 91% of their shares accepted. Payment is expected around August 23, 2021. The entire amount of the deemed dividend from the share repurchase is designated an 'eligible dividend' for Canadian tax purposes.
West Fraser Timber Co. Ltd. (WFG) announced preliminary results from its substantial issuer bid (SIB) to buy back C$1 billion of its common shares. The SIB expired on August 17, 2021, with approximately 10.3 million shares expected to be purchased at C$97 each, totaling C$1 billion. The offer was oversubscribed, with about 13.7 million shares tendered, leading to a proration factor where successful auction tenders will see around 91% of their shares purchased. The SIB is expected to result in a deemed dividend of C$17.49 per share for tax purposes.
West Fraser Timber Co. Ltd. (WFG) reported significant second quarter 2021 results, with sales climbing 61% to $3.779 billion and earnings rising to $1.488 billion, equating to 39% of sales. Adjusted EBITDA surged to $2.160 billion. The company repurchased $233 million of shares and increased its Normal Course Issuer Bid (NCIB) authorization to 9.58 million shares. Liquidity improved to $3.392 billion with a net debt to total capital ratio of (28)%. However, ongoing wildfires in Western Canada may cause production disruptions and affect future shipments.
West Fraser Timber Co. Ltd. (WFG) will hold an analysts' conference call on July 29, 2021, at 8:30 a.m. PT to discuss its second quarter 2021 financial results, which will be released on July 28, 2021. Stakeholders can join by dialing 1-888-390-0605 or (416) 764-8609 for toll access. The call will be chaired by Ray Ferris, President and CEO, and will also feature a Q&A session for analysts. West Fraser operates over 60 facilities across multiple countries, producing various wood products essential for construction and industrial applications.
West Fraser Timber Co. announced a substantial issuer bid to purchase up to C$1.0 billion of its common shares. The offer will run from July 12, 2021 to August 17, 2021, with a purchase price range of C$85.00 to C$98.00 per share. This represents a 3% discount and a 12% premium over its recent trading price. The bid aims to buy back approximately 10% of issued shares. Shareholders can opt to receive payments in either Canadian or U.S. dollars. The company will use available cash for this purpose, suspending its normal course issuer bid during the offer period.
West Fraser has announced a quarterly dividend increase to C$0.25 per share from C$0.20, effective July 6, 2021, for shareholders on record by June 21, 2021. Additionally, the company has received approval to increase its normal course issuer bid to purchase up to 9,582,470 shares, up from the previous authorization of 6,044,000 shares. The buyback will commence on June 11, 2021, and run until February 16, 2022, enhancing shareholder value by potentially reducing outstanding shares and boosting earnings per share (EPS).
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