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. (NYSE: WFG) announced the renewal of its normal course issuer bid (NCIB) approved by the Toronto Stock Exchange. Under this NCIB, West Fraser can repurchase up to 4,063,696 common shares, around 5% of its outstanding shares, starting February 27, 2023. The NCIB is set to expire on February 26, 2024, or earlier if the share repurchase target is reached. The prior NCIB expired on February 22, 2023, during which West Fraser bought 10,194,000 shares at an average price of US$81.78 each. All repurchased shares will be canceled, aiming to enhance shareholder value.
West Fraser Timber Co. Ltd. (NYSE: WFG) announced the filing of its 2022 annual report on Form 40-F with the SEC as of February 14, 2023. This filing includes audited financial statements for the year ended December 31, 2022, along with management's discussion and analysis (MD&A) and the annual information form. These documents are also available on SEDAR and the company's website. Shareholders can request a hard copy of the report at no charge. West Fraser operates over 60 facilities across Canada, the U.S., the U.K., and Europe, producing a range of wood products from sustainably managed resources.
West Fraser Timber Co. Ltd. (WFG) reported Q4 2022 financial results showing sales of $1.615 billion and a net loss of $94 million, equating to $1.13 per diluted share. For the full year, sales totaled $9.701 billion, down from $10.518 billion in 2021. Adjusted EBITDA for Q4 was $70 million, significantly lower than the $426 million in Q3 2022. The Lumber segment saw an Adjusted EBITDA loss of $77 million due to $39 million in inventory write-downs. Despite challenges, the company returned nearly $2.1 billion to shareholders via stock buybacks. A dividend of $0.30 per share was declared for April 2023.
West Fraser Timber Co. Ltd. (WFG) announced a planned curtailment of operations at Cariboo Pulp & Paper in Quesnel, British Columbia. This suspension will start in mid-April for one month and again in the third quarter. The decision stems from a decline in sawmill residual availability due to factors like infestation, fire, and government policies impacting fibre supply in British Columbia. During the downtime, the company intends to mitigate employee impacts through vacation scheduling and alternative work assignments.
West Fraser Timber Co. Ltd. (NYSE: WFG) announced an upcoming analysts' conference call to discuss its fourth quarter 2022 financial results, scheduled for February 15, 2023, at 8:30 a.m. PT. Participants can join via telephone at 1-888-390-0605 or (416) 764-8609, or through a webcast. The company's financial results will be made available a day prior, on February 14, 2023. West Fraser operates over 60 facilities across Canada, the U.S., the UK, and Europe, producing a range of wood products.
West Fraser Timber Co. Ltd. (WFG) announced the indefinite curtailment of its Perry Sawmill in Florida due to high fiber costs and declining lumber market prices. This decision will impact around 126 employees and reduce US lumber production by 100 million board feet. The company aims to mitigate the effect on workers by offering opportunities at other facilities. An impairment charge is expected in Q4 2022 related to this curtailment, reflecting the challenges in maintaining profitable operations under current market conditions.
West Fraser Timber Co. Ltd. (WFG) has announced a quarterly dividend of US$0.30 per share, payable on January 13, 2023, for shareholders of record on December 30, 2022. The dividend is classified as an eligible dividend under Canadian tax regulations. Shareholders have the option to receive their dividends in Canadian dollars. West Fraser operates over 60 facilities across Canada, the U.S., the UK, and Europe, producing a range of wood products essential for construction and industrial applications.
West Fraser Timber Co. Ltd. (WFG) reported Q3 2022 sales of $2.088 billion and earnings of $216 million, a decline from previous quarters. Adjusted EBITDA stood at $426 million, down from $1.124 billion in Q2 2022. The company repurchased 2.224 million shares for $182 million. Despite improved transportation challenges, rising inflation and slowing demand have impacted performance. A new lumber manufacturing complex in Texas is planned, with an estimated investment of $255 million. Long-term growth is anticipated in the housing sector, but short-term challenges remain due to rising interest rates and macroeconomic pressures.
West Fraser Timber Co. Ltd. (WFG) will host an analysts' conference call on October 27, 2022, at 8:30 a.m. PT to discuss its third quarter 2022 financial results. Interested participants can join by dialing 1-888-390-0605 or (416) 764-8609 for international calls, or through a webcast available on their website. The financial results will be released on October 26, 2022. The call will be led by Ray Ferris, President and CEO, and will allow for Q&A from analysts.
West Fraser Timber Co. Ltd. (WFG) announced a quarterly dividend of US$0.30 per share, scheduled for payment on October 7, 2022. Shareholders of record by September 22, 2022 will receive this dividend, which is classified as an eligible dividend under Canadian tax law. Shareholders can opt to receive dividends in either U.S. or Canadian dollars. West Fraser is a diversified wood products company operating over 60 facilities across Canada, the United States, the United Kingdom, and Europe, specializing in sustainably sourced wood products.