West Fraser Timber Co Ltd
TSX:WFG

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West Fraser Timber Co Ltd Logo
West Fraser Timber Co Ltd
TSX:WFG
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Price: 82.8 CAD -2.5% Market Closed
Market Cap: 6.5B CAD

West Fraser Timber Co Ltd
Investor Relations

Amidst the vast, untamed forests of North America, West Fraser Timber Co. Ltd. has carved a path as a quiet giant in the global wood products industry. Headquartered in Vancouver, this Canadian company harnesses the natural abundance of timber from its expansive forestry operations. West Fraser isn’t merely a steward of these forests; it actively engages in their sustainable management, balancing the delicate interplay between economic growth and ecological responsibility. This strategic approach ensures a consistent and high-quality supply of timber, enabling the company to maintain a dominant position in the cyclical world of lumber markets. As global economic conditions influence demand for wood-based products, West Fraser's vertically integrated operations—from logging through to sawmilling—position it uniquely to optimize production efficiency and cost management.

The company's business model extends beyond just timber, as it delves deep into value-added products, ensuring a diverse revenue stream. This diversification is manifested in its production of wood-based panels, pulp, and newsprint, as well as engineered wood products that find their way into construction sites across continents. These engineered products, known for their strength and efficiency, cater to the rising demand for more resilient and sustainable building materials. By capitalizing on economies of scale and technological advancements, West Fraser maximizes its output, transforming raw wood into essential products that underpin residential, commercial, and industrial infrastructure. This expansive portfolio not only provides resilience against market volatilities but also secures West Fraser's enduring role as a linchpin in the timber industry.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Oct 23, 2025
AI Summary
Q3 2025

EBITDA Loss: West Fraser reported negative $144 million adjusted EBITDA for Q3 2025, pressured by weak markets and a $67 million duty expense.

Lower Prices: Lumber and OSB prices declined sharply, driving sequential drops in profitability across core segments.

Guidance Narrowed: Management reduced the top end of 2025 shipment guidance for both SPF and SYP lumber due to persistent demand softness.

Strong Balance Sheet: The company ended the quarter with $1.6 billion in available liquidity and $212 million net cash, supporting flexibility in a tough cycle.

Cost Actions: Significant capacity cuts and asset sales over the past three years aimed to strengthen the business for both down cycles and future recoveries.

New Tariffs: U.S. imposed a new 10% Section 232 tariff on top of existing lumber duties, further weighing on Canadian competitiveness.

Key Financials
Adjusted EBITDA
-$144 million
Adjusted EBITDA – Lumber Segment
-$123 million
Adjusted EBITDA – North America EWP Segment
-$15 million
Adjusted EBITDA – Pulp and Paper Segment
-$6 million
Adjusted EBITDA – Europe Business
$1 million
Duty Expense (AR6)
$67 million
Operating Cash Flow
$58 million
Net Cash Balance
$212 million
Available Liquidity
$1.6 billion
Capital Expenditures
$90 million
Share Buybacks and Dividends
$65 million
U.S. Housing Starts
1.31 million units (annualized, rolling 3 months through August)
Combined Duty Rate (CVD + ADD) for AR6
26.5%
Earnings Call Recording
Other Earnings Calls

Management

Mr. Christopher A. Virostek CA, CPA, HBBA
Senior VP of Finance & CFO
No Bio Available
Ms. Robin A. Lampard
Senior Vice-President of Finance
No Bio Available
Mr. Kevin John Burke
Executive Vice-President of North American Operations
No Bio Available
Mr. Chuck H. Watkins
Vice-President of Capital & Technology
No Bio Available
Mr. Robert B. Winslow C.F.A.
Director of Investor Relations & Corporate Development
No Bio Available
Mr. Matthew V. Tobin
Senior VP of Sales & Marketing
No Bio Available
Mr. Alan Anthony Caputo
Vice President of Human Resources
No Bio Available
Mr. James W. Gorman
Senior Vice-President of Corporate Services
No Bio Available
Mr. Keith D. Carter
Senior Vice-President of Western Canada
No Bio Available
Mr. Alan G. McMeekin
Senior Vice President of Europe
No Bio Available

Contacts

Address
BRITISH COLUMBIA
Vancouver
C/O West Fraser Group, 501-858 Beatty St
Contacts
+16048952745.0
www.westfraser.com