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 a strategic shift at its Hinton, Alberta pulp mill, permanently reducing capacity by ceasing one production line. The remaining line will transition to producing Unbleached Kraft Pulp (UKP) instead of Northern Bleached Softwood Kraft Pulp (NBSK). This change aims to reduce operational costs and greenhouse gas emissions by approximately 35%. The adjustment will lower staffing from 345 to 270, with plans to mitigate impacts through attrition and redeployment. An impairment charge of about US$13 million is anticipated in Q1 2022 due to equipment write-downs.
West Fraser Timber Co. Ltd. (WFG) announced a conference call scheduled for April 29, 2022, at 8:30 a.m. PT to discuss its first quarter 2022 financial and operational results. Interested participants can join via phone or webcast. The results will be released on April 28, 2022. West Fraser operates over 60 facilities across Canada, the U.S., the U.K., and Europe, producing a range of wood products and renewable energy from sustainably sourced resources. The company focuses on markets including home construction, industrial applications, and packaging materials.
West Fraser Timber Co. Ltd. (WFG) will participate in the Raymond James 43rd Annual Institutional Investors Conference on March 7, 2022. The event features a conversation with President & CEO Ray Ferris at 3:25 p.m. Eastern Time. Interested parties can access the live webcast on the company's website, with a replay available afterward. West Fraser is a diversified wood products company operating over 60 facilities across Canada, the U.S., the U.K., and Europe, producing a wide array of wood products for construction, industrial applications, and renewable energy.
West Fraser Timber Co. Ltd. (WFG) has announced the renewal of its normal course issuer bid (NCIB), allowing the purchase of up to 10,194,000 common shares, which is around 10% of the public float as of February 14, 2022. The NCIB will commence on February 23, 2022, and will last until February 22, 2023, or until the authorized shares are repurchased. The company plans to utilize an automatic purchase plan for market purchases, and it previously repurchased 7,340,311 shares at an average price of US$75.07. All shares acquired will be canceled.
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.