The following is a summary of the West Fraser Timber Co. Ltd. (WFG) Q1 2024 Earnings Call Transcript:
Financial Performance:
West Fraser Timber reported Q1 2024 adjusted EBITDA of $200 million, denoting a 12% margin.
On a trailing four-quarter basis, adjusted EBITDA was $703 million, up from $561 million reported for fiscal 2023.
The Lumber segment reported Q1 EBITDA of $10 million, an improvement from negative $51 million in Q4 2023.
The North American Engineered Wood Products segment posted Q1 EBITDA of $188 million, up from $143 million in Q4 2023.
The company concluded the quarterly period with $1.8 billion in total liquidity.
Business Progress:
West Fraser Timber executed two critical transactions: the disposal of the Hinton pulp mill and two BCTMP mills; and took full ownership of the Cariboo Pulp & Paper mill.
Despite adverse conditions, the company remains optimistic about future demand for sustainable wood products.
There was a slowdown in renovation & repair demand, but the long-term positioning remains positive.
The company is exploring future projects and M&A opportunities, focusing on quality assets that reinforce the business and improve customer relations in its OSB sales team.
More details: West Fraser Timber IR
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