West Fraser Timber Co. Ltd. reports 3Q 2018 results. 3 earnings were $238 million, up from $120 million a year ago. 3Q sales increased to $1.65 billion, compared to 1.25 billion in the 3Q 2017, as the company said in the press release received by Lesprom Network.
Lumber segment generated operating earnings of $233 million (2Q 2018 - $358 million) and Adjusted EBITDA of $339 million (2Q 2018 - $468 million). The retreat from the second quarter’s pricing and slightly lower shipment volumes in the current quarter were largely responsible for the reduction in earnings.
Panels segment generated operating earnings in the quarter of $31 million (2Q 2018 - $52 million) and Adjusted EBITDA of $34 million (2Q 2018 - $56 million). Moderation of plywood pricing and a reduction in shipments from clearing the backlog in the previous quarter impacted panel results.
Pulp & paper segment generated operating earnings of $65 million (2Q 2018 - $56 million) and Adjusted EBITDA of $73 million (2Q 2018 - $68 million). Production was higher in the quarter as the company did not have any planned maintenance shut downs and its operational performance improved.
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.
