Western Forest Products Inc
TSX:WEF

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Western Forest Products Inc Logo
Western Forest Products Inc
TSX:WEF
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Price: 11.08 CAD -0.18% Market Closed
Market Cap: 117m CAD

Western Forest Products Inc
Investor Relations

Western Forest Products, Inc. is a forest products company, which manufactures wood products and manages forests. The company is headquartered in Vancouver, British Columbia and currently employs 2,051 full-time employees. The company went IPO on 2004-08-03. The Company’s primary business is the sale of lumber and logs, which includes timber harvesting, sawmilling logs into specialty lumber, value-added lumber remanufacturing and wholesaling purchasing lumber. The Company’s product categories include outdoor living, exterior appearance, interior living, structural, industrial, and LIFESTYLE CEDAR. The outdoor living product category offers decking, timbers, outdoor structures, fencing products. The exterior appearance offers siding, trim & fascia, soffits, door & window products. The interior living product category offers Interior paneling, interior moldings, architectural millwork, and stair components. For structural, the Company offers timbers, framing, Japanese housing, and engineered products. For industrial, the Company offers bridge, docks, rail ties, cross arms, and mat stock. The LIFESTYLE CEDAR product category offers decking and fencing.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 6, 2025
AI Summary
Q3 2025

EBITDA Loss: Adjusted EBITDA for the third quarter was negative $65.9 million, significantly worse than last year, mainly due to a $59.5 million non-cash export duty expense.

Major Duty Increases: U.S. softwood lumber duties rose to 35.16% from 14.4%, and a new 10% tariff was imposed on imported lumber, sharply impacting results.

Cost Controls: The company reduced debt by $15.7 million and improved liquidity to $234 million through working capital reductions and a new credit facility.

Volume and Demand Weakness: Lower lumber shipments, a weaker sales mix, and log harvest challenges led to reduced log and lumber inventories.

Production Cuts: Western plans to reduce Q4 lumber production by 35 million board feet in response to high duties, tariffs, and weak demand.

Outlook: Management expects challenging market conditions to persist but is preparing for possible improvement in late Q4 2025 or early 2026.

Key Financials
Adjusted EBITDA
-$65.9 million
Export Duty Expense
$59.5 million
Debt Reduction
$15.7 million
Net Debt to Capitalization Ratio
2%
Available Liquidity
$234 million
Lumber Inventory
53 million board feet
Log Inventory
602,000 cubic meters
Planned 2025 Capital Expenditures
$30–35 million
Combined Effective Duty Rate
35.16%
On-Time Shipping Performance
92%
Mill Uptime
87%
U.S. Lumber Shipments (as % of total)
21%
Fourth Quarter Lumber Production Reduction
35 million board feet
Fourth Quarter Order File
87 million board feet
Earnings Call Recording
Other Earnings Calls

Management

Mr. J. Steven Hofer
President, CEO & Non-Independent Director
No Bio Available
Ms. Alyce Harper J.D.
VP, General Counsel & Corporate Secretary
No Bio Available
Mr. Bruce Lindsay Alexander
Senior Vice President of Sales, Marketing & Manufacturing
No Bio Available
Ms. Jennifer Eileen Foster
Senior Vice President of Human Resources & Corporate Affairs
No Bio Available
Mr. Stephen Williams
Executive Vice President
No Bio Available
Mr. Glen Douglas Nontell
Chief Financial Officer
No Bio Available
Babita Khunkhun
Senior Director of Communications
No Bio Available
Mr. Morris Mandziuk
Treasurer
No Bio Available

Contacts

Address
BRITISH COLUMBIA
Vancouver
800 - 1055 West Georgia Street, Royal Centre Building, PO Box 11122
Contacts