West Fraser Timb Stock Price, News & Analysis

West Fraser Timber Co. Ltd. (WFG) announced preliminary results from its substantial issuer bid (SIB) to buy back C$1 billion of its common shares. The SIB expired on August 17, 2021, with approximately 10.3 million shares expected to be purchased at C$97 each, totaling C$1 billion. The offer was oversubscribed, with about 13.7 million shares tendered, leading to a proration factor where successful auction tenders will see around 91% of their shares purchased. The SIB is expected to result in a deemed dividend of C$17.49 per share for tax purposes.

West Fraser Timber Co. Ltd. (WFG) reported significant second quarter 2021 results, with sales climbing 61% to $3.779 billion and earnings rising to $1.488 billion, equating to 39% of sales. Adjusted EBITDA surged to $2.160 billion. The company repurchased $233 million of shares and increased its Normal Course Issuer Bid (NCIB) authorization to 9.58 million shares. Liquidity improved to $3.392 billion with a net debt to total capital ratio of (28)%. However, ongoing wildfires in Western Canada may cause production disruptions and affect future shipments.

West Fraser Timber Co. Ltd. (WFG) will hold an analysts' conference call on July 29, 2021, at 8:30 a.m. PT to discuss its second quarter 2021 financial results, which will be released on July 28, 2021. Stakeholders can join by dialing 1-888-390-0605 or (416) 764-8609 for toll access. The call will be chaired by Ray Ferris, President and CEO, and will also feature a Q&A session for analysts. West Fraser operates over 60 facilities across multiple countries, producing various wood products essential for construction and industrial applications.

West Fraser Timber Co. announced a substantial issuer bid to purchase up to C$1.0 billion of its common shares. The offer will run from July 12, 2021 to August 17, 2021, with a purchase price range of C$85.00 to C$98.00 per share. This represents a 3% discount and a 12% premium over its recent trading price. The bid aims to buy back approximately 10% of issued shares. Shareholders can opt to receive payments in either Canadian or U.S. dollars. The company will use available cash for this purpose, suspending its normal course issuer bid during the offer period.

West Fraser has announced a quarterly dividend increase to C$0.25 per share from C$0.20, effective July 6, 2021, for shareholders on record by June 21, 2021. Additionally, the company has received approval to increase its normal course issuer bid to purchase up to 9,582,470 shares, up from the previous authorization of 6,044,000 shares. The buyback will commence on June 11, 2021, and run until February 16, 2022, enhancing shareholder value by potentially reducing outstanding shares and boosting earnings per share (EPS).

West Fraser Timber Co. (TSX: WFG) reported a robust Q1 2021, with sales soaring 81% to $2.343 billion and earnings rising to $665 million, representing 28% of sales. Adjusted EBITDA reached $1.008 billion, reflecting substantial growth from the previous quarter. The acquisition of Norbord was finalized on February 1, 2021, enhancing operational capabilities. The company maintained strong liquidity of $2.551 billion and repurchased $102 million in shares. Strategic investments are expected to drive further growth, despite challenges from increased raw material costs and integration risks.

West Fraser Timber Co. Ltd. (WFG) announced the voting results from its virtual Annual General Meeting held on April 20, 2021. A total of 97.7 million shares were voted, representing 79.32% of all outstanding shares. Shareholders approved all items, including the election of all director nominees, with Hank Ketcham receiving 98% of votes in favor. The appointment of PricewaterhouseCoopers LLP as auditor was also approved. Additionally, 99% of votes supported the Company's executive compensation approach as detailed in the March 8, 2021, management circular.

West Fraser Timber Co. Ltd. (WFG) will host an analysts' conference call on May 7, 2021, at 8:30 a.m. PT to discuss its first quarter 2021 financial and operating results. Interested participants can dial 1-888-390-0605 toll-free in North America or join via webcast. The company's quarterly results will be released on May 6, 2021. West Fraser operates over 60 facilities globally, producing a range of wood products and renewable energy.

West Fraser Timber Co. Ltd. (WFG) announced that its subsidiary, Norbord Inc., will redeem all outstanding 5.75% Notes due July 15, 2027, on May 6, 2021. Approximately US$349.4 million in 2027 Notes are currently outstanding. The redemption will occur at 100% of the principal amount plus a make-whole premium, financed with cash on hand, aimed at reducing debt and optimizing capital structure post-Norbord acquisition. This move is not expected to materially impact West Fraser’s earnings.