Western Forest Products Inc. reported adjusted EBITDA of $34 million in the 1Q 2017, compared to adjusted EBITDA of $35.7 million in the 1Q 2016, and $33.8 million reported in the 4Q 2016.
The Company successfully grew revenue to $287.7 million in the 1Q 2017, as compared to $269.8 million in the 1Q 2016, and $293 million in the 4Q 2016. Growing demand and accelerating pricing for the Company’s log and lumber products as compared to the same quarter last year, drove the Company’s 1Q revenue growth.
Net income of $16.2 million was reported for the 1Q 2017, as compared to $17.3 million for the 1Q 2016. Improved price realizations largely offset the impacts of difficult winter weather conditions on operating costs.
Net income for the 1Q 2017 was $16.2 million, compared to $17.3 million for the same period of 2016. A decrease in operating income was partially offset by lower finance costs and reduced tax expense.
Western Forest Products Inc. is an integrated Canadian forest products company, and is the largest coastal British Columbia woodland operator and lumber producer.
