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West Fraser Timber Co., Ltd. - WFG STOCK NEWS

Welcome to our dedicated news page for West Fraser Timber Co., Ltd. (Ticker: WFG), a resource for investors and traders seeking the latest updates and insights on West Fraser Timber Co., Ltd..

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect West Fraser Timber Co., Ltd.'s stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of West Fraser Timber Co., Ltd.'s position in the market.

News
WEST FRASER ANNOUNCES VOTING RESULTS OF THE ANNUAL SHAREHOLDERS MEETING
Rhea-AI Summary
West Fraser Timber Co. announced the voting results from its Annual General Meeting held on April 24, 2024. Shareholders voted in favor of all items, including the election of directors. A total of 67,961,345 common shares and Class B common shares were voted, representing 83.24% of all outstanding shares. The company confirmed the election of all director nominees and approved other matters like the number of directors and appointment of auditor. Shareholder approval for the Company's approach to executive compensation was at 96.82%.
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WEST FRASER ANNOUNCES FIRST QUARTER 2024 RESULTS
Rhea-AI Summary
West Fraser Timber Co. announced its first quarter 2024 results, reporting sales of $1.627 billion, earnings of $35 million, and Adjusted EBITDA of $200 million. The company repurchased shares, completed sales of pulp mills, and dissolved a joint venture. CEO Sean McLaren highlighted strong performance in North American engineered wood products and challenges in European markets. The outlook remains positive for new home construction in North America, while near-term risks exist for European products. Liquidity decreased, dividends were paid, and a share buyback program was renewed. Operations across lumber, engineered wood products, and pulp & paper segments are detailed, with expectations for stable input costs and capital expenditures. The company's sustainability report and risks are also discussed.
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WEST FRASER ANNOUNCES COMPLETION OF SALE
Rhea-AI Summary
West Fraser Timber Co. announced the completion of the sale of its Quesnel River Pulp mill and Slave Lake Pulp mill to an affiliate of Atlas Holdings. The mills will be operated by Millar Western Forest Products. This move allows West Fraser to focus on becoming the premier building products company in North America.
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NOTICE OF FIRST QUARTER RESULTS CONFERENCE CALL
Rhea-AI Summary
West Fraser Timber Co. will host an analysts' conference call to discuss its first quarter 2024 financial and operating results. The call will be chaired by Mr. Sean McLaren, President, and CEO. The results will be released on April 23, 2024, with the call scheduled for April 24, 2024.
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-0.35%
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WEST FRASER ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID
Rhea-AI Summary
West Fraser Timber Co. Ltd. announces the renewal of its normal course issuer bid to repurchase up to 3,971,380 common shares, representing 5% of outstanding shares. The bid aims to return capital to shareholders, believing the shares are undervalued. Purchases can be made on TSX, NYSE, and alternative trading systems. The bid will terminate on Feb 28, 2025, or earlier if the maximum shares are repurchased.
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1.68%
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WEST FRASER ANNOUNCES FOURTH QUARTER 2023 RESULTS
Rhea-AI Summary
West Fraser Timber Co. Ltd. reported fourth quarter and annual results for 2023, highlighting sales of $1.514 billion and a loss of $153 million in Q4-23. The company's Adjusted EBITDA was $97 million for the quarter. Despite challenges, West Fraser made progress in portfolio optimization through acquisitions and divestitures. The company repurchased shares, completed acquisitions, and announced mill closures. Sean McLaren became the new CEO. The outlook remains positive for North American home construction markets, while risks persist in Europe. Operational guidance for 2024 includes shipment expectations and cost forecasts.
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2.43%
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earnings
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WEST FRASER ANNOUNCES CLOSURE OF HINTON PULP SALE
Rhea-AI Summary
West Fraser Timber Co. Ltd. has completed the sale of its Hinton Pulp mill to Mondi Group plc, following regulatory reviews and satisfaction of closing conditions. The company expresses gratitude to employees, the community of Hinton, and the Government of Alberta for their support. The future of the Hinton Pulp mill is promising, and West Fraser will continue to provide support through a long-term fibre supply agreement.
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-1.48%
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Notice of Fourth Quarter Results Conference Call
Rhea-AI Summary
West Fraser Timber Co. Ltd. will hold an analysts' conference call to discuss fourth quarter 2023 financial and operating results on February 15, 2024. The call will be chaired by Mr. Sean McLaren, President, and CEO. The call will be recorded for webcasting purposes and will be available on the company's website. The financial and operating results will be released on February 14, 2024.
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-0.6%
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WEST FRASER ANNOUNCES CLOSURE OF FRASER LAKE SAWMILL
Rhea-AI Summary
West Fraser Timber Co. Ltd. announced the permanent closure of its sawmill in Fraser Lake, British Columbia, impacting approximately 175 employees. The closure is due to the company's inability to access economically viable fibre in the region. West Fraser expects to mitigate the impact by providing work opportunities at other operations. The mill closure will reduce West Fraser's Canadian lumber capacity by approximately 160 million board feet. The company anticipates recording restructuring and impairment charges of approximately $81 million in the fourth quarter of 2023 related to facility closures and curtailments.
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WEST FRASER ANNOUNCES CLOSURE OF MAXVILLE SAWMILL AND INDEFINITE CURTAILMENT OF HUTTIG SAWMILL
Rhea-AI Summary
West Fraser Timber Co. Ltd. (WFG) to Close Sawmill in Florida and Curtail Operations in Arkansas, Impacting 220 Employees and Reducing U.S. Lumber Capacity by 270 Million Board Feet
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West Fraser Timber Co., Ltd.

NYSE:WFG

WFG Rankings

#1050 Ranked by Market Cap
#2873 Ranked by Stock Gains
#1598 Ranked by Dividends

WFG Stock Data

6.50B
53.10M
33.1%
46.58%
0.79%
Timber Tract Operations
Agriculture, Forestry, Fishing and Hunting
Link
Canada
Vancouver

About WFG

west fraser has been named one of canada's 10 most admired corporate cultures (2014) and one of canada's 10 best companies to work for. 2016 marks the 3rd time the company has been recognized as one of canada's top 100 employers. our investments in modern, competitive manufacturing facilities, product innovation and bioenergy are adding up to a bright future. www.westfraser.com/jobs