VANCOUVER, B.C. – West Fraser Timber reported today the fourth quarter, 2022 and full year results. Fourth quarter highlights include: Sales of $1.615 billion and earnings of $(94) million, Adjusted EBITDA of $70 million, representing 4% of sales, Lumber segment Adjusted EBITDA of $(77) million, including $39 million of inventory write-downs, North America Engineered Wood Products segment Adjusted EBITDA of $109 million, Pulp & Paper segment Adjusted EBITDA of $15 million. …Annual Highlights include: Sales of $9.701 billion and earnings of $1.975 billion, Adjusted EBITDA1 of $3.212 billion, representing 33% of sales, Lumber segment Adjusted EBITDA1 of $1.328 billion, NA EWP segment Adjusted EBITDA1 of $1.677 billion, Pulp & Paper segment Adjusted EBITDA of $26 million. …“In the fourth quarter of 2022, we faced a challenging demand market as rising interest rates dampened new home construction activity in the U.S., most acutely impacting our Lumber business” said Ray Ferris, CEO.
Additional coverage in CBC News: West Fraser Timber Q4 earnings down 128% compared to same period in 2021