West Fraser Timber Co. Ltd. reports record sales in 2Q 2017of $1.32 billion, up from $1.11 billion in last year, with earnings up 49% to $146 million. Adjusted EBITDA was $305 million, compared to $138 million in 2Q 2016

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West Fraser Timber reports 2Q Adjusted EBITDA of $305 million

West Fraser Timber Co. Ltd. reports record sales in 2Q 2017of $1.32 billion, up from $1.11 billion in last year, with earnings up 49% to $146 million. 2Q Adjusted EBITDA was $305 million, compared to $138 million in 2Q 2016, as the company said in the press release received by Lesprom Network.

Lumber segment generated operating earnings of $171 million and Adjusted EBITDA of $240 million. Improved product pricing was the primary driver of improved results. Countervailing and antidumping duties commenced this quarter resulting in an expense of $34 million.

Panels segment generated operating earnings in the quarter of $23 million and Adjusted EBITDA of $26 million. Improved plywood pricing was offset by costs associated with our WestPine MDF plant restart.

Pulp & paper segment generated operating earnings of $32 million and Adjusted EBITDA of $42 million. Higher pulp prices were offset by higher maintenance costs as its Cariboo pulp mill had a planned maintenance shutdown followed by non-related operational issues. Hinton pulp mill struggled in the first part of the quarter, however performance improved to targeted levels over the balance of the quarter.

West Fraser is a diversified wood products company producing lumber, LVL, MDF, plywood, pulp, newsprint, wood chips and energy with facilities in western Canada and the southern United States.