Western Forest Products reporter Q2, 2024 net loss of $5.7 million, names Glen Nontell Chief Financial Officer

Western Forest Products Inc.
July 31, 2024
Category: Finance & Economics
Region: Canada, United States

VANCOUVER, BC — Western Forest Products reported a net loss of $5.7 million in the second quarter of 2024, as compared to a net loss of $20.7 million in the second quarter of 2023, and a net loss of $8.0 million in the first quarter of 2024. Adjusted EBITDA was $9.4 million in the second quarter of 2024, as compared to negative $12.0 million in the second quarter of 2023, and negative $4.2 million in the first quarter of 2024. Other highlights include:  Lumber shipments of 173 million board feet (versus 153 million board feet in Q2 2023); Japan lumber shipments of 27 million board feet (versus 21 million board feet in Q2 2023); Average lumber selling price of $1,363 per mfbm (versus $1,392 per mfbm in Q2 2023), primarily due to a slightly weaker sales mix of specialty lumber products. …At the same time, the Vancouver-based firm announced the appointment of Glen Nontell as CFO, effective today. Nontell joined the company in 2018 and was most recently VP of corporate development.

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