Oct 30, 2013. /Lesprom Network/. West Fraser Timber Co. Ltd. reported earnings of $55 million or $1.29 per share on sales of $878 million in the 3Q 2013. In the quarter lumber operations generated operating earnings of $57 million (2Q - $103 million) and EBITDA of $83 million (2Q- $125 million). The weaker results compared to the previous quarter reflect lower lumber prices during the current quarter, as the company said in the press release received by Lesprom Network. 

Panel segment generated operating earnings of $6 million (2Q - $6 million) and EBITDA of $9 million (2Q - $10 million) in the quarter. Higher plywood and MDF prices were offset by higher log costs and reduced MDF production.

In the quarter pulp and paper operations generated operating earnings of $29 million (2Q - $20 million) and EBITDA of $40 million (2Q - $31 million). Higher prices, a slightly weaker Canadian dollar and improved NBSK production contributed to the improved results.

"Our 3Q results reflect lower lumber prices offset somewhat by improved pulp prices compared to the previous quarter." said Ted Seraphim, our President and CEO. "Given our strong balance sheet and strong cash generation from our operations we remain focused on our aggressive capital spending program over the next few years as we fully modernize our operations."

West Fraser Timber is an integrated wood products company producing lumber, wood chips, LVL, MDF, plywood, pulp and newsprint.