West Fraser Declared Third Quarter 2023 Results

SEATTLE (Scrap Monster): West Fraser Timber Co. Ltd. reported results for third quarter of 2023.

The company reported sales of f $1.705 billion and earnings of $159 million, or $1.81 per diluted share. The overall adjusted EBITDA stood at $325 million, with lumber segment EBIDTA totalling $44 million. West Fraser had declared sales of $1.608 billion, earnings of $(131) million, or $(1.57) per diluted share and adjusted EBITDA of o $80 million in the second quarter of 2023.

By segment, the North America Engineered Wood Products (NA EWP) recorded adjusted EBITDA of $289 million. The Pulp& Paper segment adjusted EBITDA was at a loss of $12 million. Meantime, the Europe Engineered Wood Products (Europe EWP) segment reported adjusted EBITDA of $4 million, said the company press release.

West Fraser’s capital expenditures during Q3 this year were $115 million. It paid dividends amounting to $25 million in third quarter and declared dividend payment of $0.30 per share payable in Q4 this year.

Commenting on the future outlook, West Fraser Timber Co. Ltd. announced that several key trends that served as positive drivers during recent years are likely to support medium and long-term demand from North American home construction market. The 2023 lumber shipments are expected to be around the levels recorded in 2022.

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