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) announced permanent production curtailments of approximately 170 million board feet from its Fraser Lake and Williams Lake sawmills and 85 million square feet of plywood at its Quesnel mill. This decision will affect 77 positions at Fraser Lake, 15 positions at Williams Lake, and 55 positions at Quesnel, with changes implemented in Q4 2022. The curtailments aim to align production capacity with the challenges of timber accessibility and transportation issues in British Columbia.
West Fraser Timber Co. Ltd. (WFG) reported Q2 2022 results revealing sales of $2.887 billion and earnings of $762 million or $7.59 per diluted share. Adjusted EBITDA was $1.124 billion, 39% of sales. The company returned $1.475 billion to shareholders through buybacks and dividends. Challenges included transportation issues and inflationary pressures, but demand for wood products remains robust. Forecasts suggest SPF lumber shipments may be lower than projected, while OSB shipments are slightly down. Capital expenditures are expected to be near $500 to $600 million.
West Fraser Timber Co. Ltd. (WFG) issued a statement addressing recent market speculation about potential transactions involving the company. While they have met with existing shareholder Kronospan and CVC Capital Partners, they confirmed that no proposals have been received and no discussions are ongoing. The company remains committed to its business strategy focused on enhancing shareholder value.
West Fraser operates over 60 facilities across Canada, the U.S., U.K., and Europe, producing a diverse range of wood products.
West Fraser Timber Co. Ltd. (WFG) will host a conference call on July 28, 2022, at 8:30 a.m. PT to discuss its second quarter 2022 financial results. Interested participants can join by calling 1-888-390-0605 or (416) 764-8609, or via the webcast. The financial results will be available on July 27, 2022. West Fraser operates over 60 facilities across Canada, the U.S., U.K., and Europe, producing various wood products, pulp, and renewable energy.
West Fraser Timber Co. Ltd. (WFG) has declared a quarterly dividend of US$0.30 per share, up from US$0.25, effective July 8, 2022, to shareholders on record by June 22, 2022. This increase reflects a commitment to returning capital to investors amidst a reduced share count due to recent issuer bids. The company emphasizes the sustainability of its dividend strategy as key to capital allocation. Dividends can be taken in Canadian dollars, and details can be found on their website.
West Fraser Timber Co. Ltd. (WFG) completed its substantial issuer bid, purchasing 11,898,205 common shares at US$95.00 each, totaling approximately US$1.130 billion. This represents about 11.7% of its outstanding shares. Following this buyback, West Fraser now has 87,473,547 common shares and 2,281,478 Class B shares outstanding. Since acquiring Norbord in February 2021, the company has repurchased 33,542,183 shares for a total of approximately US$2.812 billion. This reflects West Fraser's commitment to returning capital to shareholders while maintaining financial flexibility.
West Fraser Timber Co. Ltd. (TSX: WFG, NYSE: WFG) announced the preliminary results of its substantial issuer bid, offering to repurchase up to US$1.25 billion of common shares. The bid expired on June 2, 2022, with preliminary calculations indicating that approximately 11.898 million shares will be purchased at about US$95 each, totaling approximately US$1.130 billion. All shareholders who participated in the auction tenders and purchase price tenders are expected to have their shares purchased. The repurchase may have Canadian tax implications as a deemed dividend.
West Fraser Timber reported Q1 2022 sales of $3.110 billion and net earnings of $1,090 million ($10.25 per diluted share), marking significant growth from Q4 2021. Adjusted EBITDA also surged to $1.592 billion, representing 51% of sales. Although transportation challenges impacted supply, strong product demand mitigated these issues. The company increased its dividend to $0.25 per share and launched a substantial issuer bid of up to $1.25 billion for share repurchase. Concerns about rising interest rates could affect housing demand in North America.
On April 20, 2022, West Fraser Timber Co. Ltd. (WFG) held its Annual General and Special Meeting in Quesnel, BC, where 79.68% of shares were voted. Shareholders approved the election of all director nominees with strong support. Hank Ketcham and Reid E. Carter received 97.10% and 98.12% of votes in favor, respectively. Other key approvals included appointing PricewaterhouseCoopers LLP as the auditor and a corporate Articles amendment with 99.37% support. The Company continues to focus on diversified wood products across various markets.
West Fraser Timber Co. Ltd. (WFG) announced a substantial issuer bid to purchase up to US$1.25 billion of its common shares via a modified Dutch auction. Shareholders can submit tenders at prices between US$80.00 and US$95.00 per share, with the offer starting on April 26, 2022 and expiring on June 2, 2022. The offer aims to repurchase approximately 15% of outstanding shares. West Fraser will fund these repurchases through available cash, and any shares not purchased will be returned to shareholders.