Welcome to our dedicated page for West Fraser Timb news (Ticker: WFG), a resource for investors and traders seeking the latest updates and insights on West Fraser Timb stock.
West Fraser Timber Co. Ltd. (WFG) is a diversified wood products company listed on the TSX and NYSE. Company news releases and regulatory filings provide regular updates on its lumber, engineered wood products, and pulp and paper operations across Canada, the United States, the United Kingdom and Europe. This news page aggregates those disclosures so readers can follow how market conditions, trade policies and operational decisions affect the business.
Recent West Fraser news has covered topics such as quarterly financial results, adjustments to lumber and OSB capacity, and guidance for shipment volumes in its Lumber, North America Engineered Wood Products and Europe Engineered Wood Products segments. The company also reports on capital expenditures, share repurchases under its normal course issuer bid, and dividends on its Common and Class B Common shares.
Operational announcements have included decisions to curtail or close specific lumber and OSB mills in response to timber supply challenges and soft demand, as well as asset and goodwill impairment charges related to these changes. Other releases discuss the impact of countervailing and antidumping duties on Canadian softwood lumber exports to the U.S., and the effect of Section 232 tariffs on imported softwood timber and lumber.
In addition to financial and capacity updates, West Fraser issues news about partnerships and forest stewardship initiatives, such as its collaboration with Lake Babine Nation Forestry Limited Partnership on a First Nations Woodland Licence in British Columbia. Investors and observers can use this news feed to review the company’s own descriptions of its operating environment, risk factors and strategic responses over time.
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.
West Fraser Timber Co. Ltd. (TSX: WFG) has provided operational updates on its Dudley, Georgia lumber mill and Chambord, Quebec OSB mill, confirming progress on its new manufacturing complex expected to increase annual production capacity by 170 million board feet by Q2 2021. The Chambord mill is now operational, ramping up towards 550 million square feet production capacity. Additionally, West Fraser has filed a preliminary short form base shelf prospectus to offer up to US$2 billion in securities. Norbord Inc. has applied to cease being a reporting issuer in Canada following its acquisition by West Fraser.
On March 2, 2021, West Fraser Timber Co. announced that its subsidiary, Norbord Inc., initiated a change of control offer to repurchase US$315 million of senior notes due 2023 at 6.25% and US$350 million of senior notes due 2027 at 5.75%. This move follows Norbord's acquisition by West Fraser on February 1, 2021. The purchase price will be 101% of the principal amount plus accrued interest, with an expected payment date of April 2, 2021. The Offer is open until April 1, 2021, at 5 p.m. EST.