VANCOUVER, BC, April 22, 2025 - West Fraser Timber Co. Ltd. ("West Fraser" or the "Company") (TSX and NYSE: WFG) reported today the first quarter results of 2025 ("Q1-25").
All dollar amounts in this news release are expressed in U.S. dollars unless noted otherwise.
First Quarter Highlights
- Sales of $1.459 billion and earnings of $42 million, or $0.46 per diluted share
- Adjusted EBITDA1 of $195 million, representing 13% of sales
- Lumber segment Adjusted EBITDA1 of $66 million
- North America Engineered Wood Products ("NA EWP") segment Adjusted EBITDA1 of $125 million
- Pulp & Paper segment Adjusted EBITDA1 of $7 million
- Europe Engineered Wood Products ("Europe EWP") segment Adjusted EBITDA1 of $(2) million
- Repurchased 529,660 shares for aggregate consideration of $44 million
Sean McLaren, West Fraser's President and CEO"In many respects, the first quarter of 2025 was a continuation of the more balanced supply and demand fundamentals we have experienced in recent quarters. While still operating well below mid-cycle economics, our Lumber segment posted its best quarter in more than two years, supported in part by the impact of our mill curtailments and closures as well as the benefits we have realized with our portfolio optimization strategy that shifts a greater proportion of production to our lower cost mills," said Sean McLaren, West Fraser's President and CEO.
"Demand uncertainty for wood building products persists more broadly given ongoing housing affordability challenges, and this has only been magnified recently by a U.S. administration that has both threatened and imposed higher lumber duties and punitive tariffs on many of the products we export from Canada to the U.S. These challenges aside, we continue to focus on the controllables so that we may be better prepared for an eventual market recovery. We are removing costs and investing capital to modernize mills where practical, maintaining a defensive balance sheet and strong liquidity, and executing on a balanced capital allocation strategy so we may be opportunistic in pursuit of our long-term growth strategy."
Source: West Fraser
