West Fraser report Q1, 2024 net earnings of US$35 million

West Fraser Timber Co. Ltd.
April 23, 2024
Category: Finance & Economics
Region: Canada, United States

VANCOUVER, BC – West Fraser Timber reported the first quarter results of 2024. First quarter sales were $1.627 billion, compared to $1.514 billion in the fourth quarter of 2023. First quarter earnings were $35 million, compared to $(153) million in the fourth quarter of 2023. First quarter Adjusted EBITDA was $200 million compared to $97 million in the fourth quarter of 2023. Other highlight include: Lumber segment adjusted EBITDA of $10 million; North America Engineered Wood Products adjusted EBITDA of $188 million; Pulp & Paper adjusted EBITDA of $3 million; and Europe Engineered Wood Products adjusted EBITDA of $(1) million.  “Our North American OSB, plywood and other engineered products had another strong quarter… driven by strength in new home construction, which carried over from the fourth quarter. This was in contrast to ongoing demand softness in our European EWP business and North American lumber business, particularly for SYP lumber with its greater relative exposure to repair and remodelling applications,” said CEO Sean McLaren.

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