West Fraser Timber Co. Ltd. 2Q earnings up to $104 million
Aug 01, 2006. West Fraser Timber Co. Ltd. reported earnings of $104 million or $2.41 per share on sales of $888 million in the second quarter of 2006.
Aug 01, 2006. /Lesprom Network/. West Fraser Timber Co. Ltd. reported earnings of $104 million or $2.41 per share on sales of $888 million in the second quarter of 2006 compared to earnings of $6 million or $0.14 per share on sales of $902 million in the first quarter of 2006 and earnings of $38 million or $0.88 per share on sales of $953 million in the second quarter of 2005.
For the first half of 2006, earnings were $110 million or $2.55 per share, on sales of $1,790 million. This compares to earnings of $81 million or $1.87 per share, on sales of $1,855 million for the first half of 2005.
EBITDA was $87 million or 10% of sales for the quarter compared to EBITDA of $115 million or 13% of sales for the first quarter of 2005 and $137 million or 14% of sales for the second quarter of 2005.
For the first half of 2006 EBITDA was $202 million or 11% of sales compared to $279 million or 15% of sales for the first half of 2005.
“A number of non-recurring items contributed to second quarter earnings” says Hank Ketcham, chairman, president and chief executive officer. “Price declines in lumber and plywood from the first quarter and the planned maintenance shutdowns at our two NBSK mills and at our linerboard and kraft paper mill contributed to lower operating earnings compared to the first quarter of the year.”
West Fraser is an integrated forest products company producing lumber, LVL, MDF, plywood, pulp, linerboard, kraft paper and newsprint. The company has 6,900 employees and operations in British Columbia, Alberta and the southern United States.