West Fraser Timb Stock Price, News & Analysis

West Fraser Timber Co. Ltd. (TSX and NYSE: WFG) announced a commitment to significant greenhouse gas (GHG) reductions by 2030 through the Science Based Targets Initiative (SBTi). The company aims to reduce Scope 1 and Scope 2 emissions by 46.2% and Scope 3 emissions by 25% from respective base years. Investments of approximately $400 million are planned to achieve these targets. This commitment underscores West Fraser's dedication to sustainability and aligns with the Paris Agreement goals, promoting long-term social and economic benefits in the communities they serve.

West Fraser Timber Co. Ltd. (WFG) reported strong financial results for 2021, with annual sales of $10.518 billion and earnings of $2.947 billion, translating to $27.03 per diluted share. In Q4, sales reached $2.038 billion, resulting in earnings of $334 million, or $3.13 per diluted share. The company declared a dividend of $0.25 per share, payable on April 5, 2022. However, challenges such as disrupted logistics and inflationary pressures are expected to impact operations in 2022, with potential declines in shipments and adjustments in production schedules.

West Fraser Timber Co. Ltd. (WFG) is set to hold a conference call on February 16, 2022, at 8:30 a.m. Pacific Time to discuss its fourth quarter 2021 financial and operating results. Interested participants can join by dialing 1-888-390-0605 or 416-764-8609, or through the webcast available on the company's website. The financial results will be released on February 15, 2022. West Fraser is a diversified wood products company, operating over 60 facilities across various regions including Canada and the U.S., focusing on sustainably sourced products.

West Fraser Timber Co. Ltd. (WFG) announced significant management changes to enhance operational effectiveness. Sean McLaren is promoted to Chief Operating Officer, while Kevin Burke transitions to Senior Vice-President of Wood Products. Keith Carter and Alan McMeekin also advance to Senior Vice-Presidents for Western Canada and Europe, respectively. CEO Ray Ferris expressed confidence in the leadership team's ability to drive success. These changes aim to strengthen management capacity as the company continues its diversified operations across multiple regions.

West Fraser Timber Co. Ltd. (WFG) has announced a quarterly dividend of US$0.20 per share on its Common and Class B Common shares. This dividend is payable on January 11, 2022, to shareholders recorded by December 28, 2021. As of October 27, 2021, dividends will be declared and payable in U.S. dollars, with shareholders having the option to receive them in Canadian dollars. The dividends qualify as eligible dividends under Canadian tax laws.

West Fraser Timber Co. Ltd. has successfully completed the acquisition of an oriented strand board (OSB) mill in Allendale, South Carolina, as announced on December 6, 2021. This acquisition is part of West Fraser's strategic expansion in the wood products market, enhancing its production capabilities. With over 60 facilities across Canada, the U.S., the U.K., and Europe, West Fraser produces a diverse range of wood products. The acquisition is expected to bolster the company's operational efficiency and market presence.

West Fraser Timber Co. Ltd. (WFG) has successfully completed the acquisition of Angelina Forest Products lumber mill in Lufkin, Texas, following the completion of U.S. regulatory review and satisfaction of closing conditions. This acquisition aligns with West Fraser's strategy to expand its market presence and enhance operational capabilities in the U.S. The company operates over 60 facilities worldwide, producing a range of wood products for various applications including construction and industrial uses.

West Fraser Timber Co. Ltd. (WFG) reported significant operational disruptions due to severe flooding in British Columbia. Weekly lumber shipments from western Canada have dropped by 25%-30%, while pulp shipments are at less than 20% of normal volumes. The company is using alternative transport routes but has reduced operating schedules at several locations, resulting in uncertain restoration timelines for transportation services. The next earnings release is scheduled for February 15, 2022, with no further updates expected before that date.

West Fraser Timber Co. Ltd. (WFG) reported strong third-quarter results for 2021, with sales reaching $2.358 billion and earnings of $460 million, equating to 20% of sales. Adjusted EBITDA stood at $786 million, or 33% of sales. The company repurchased $100 million of shares and completed a CAD$1.0 billion substantial issuer bid. Liquidity remained robust at $3.130 billion. Notably, West Fraser announced acquisitions of Angelina Forest Products for $300 million and Georgia Pacific's OSB mill for $280 million, enhancing its operational capacity.