West Fraser Timber Co. Ltd. reported earnings of $107 million, or $1.35 basic earnings per share, on sales of $1,155 million in the 3Q 2016.
In the quarter lumber operations generated operating earnings of $114 million and Adjusted EBITDA of $151 million. Higher U.S. dollar lumber prices contributed to the improvement in earnings.
The panel segment, which includes plywood, LVL and MDF, generated operating earnings in the quarter of $30 million and Adjusted EBITDA of $33 million. Higher plywood prices were the main contributor to the improved earnings.
Pulp & paper operations generated operating earnings of $22 million and Adjusted EBITDA of $31 million. Pulp and newsprint prices increased and pulp production was higher resulting in increased earnings.
“We’re pleased with the ongoing improvements from our capital spending program. I’m also very proud of our committed and focused employee group who continue to strive to improve operational performance each and every day,” said Ted Seraphim, our President and CEO.
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.
