West Fraser Announces 2016 Annual and Fourth Quarter Results

Feb 16, 2017

Fourth Quarter

  • Sales exceed $1.1 billion
  • Earnings of $79 million or basic EPS of $1.01
  • Adjusted earnings1 of $101 million or Adjusted basic EPS1 of $1.28
  • Adjusted EBITDA1 of $193 million or 17% of sales
  • Net cash provided by operating activities of $182 million
  • Quarterly cash dividend of $.07 declared

2016

  • Record sales exceed $4.4 billion
  • Earnings of $326 million or basic EPS of $4.06
  • Adjusted earnings1 of $330 million and Adjusted basic EPS1 of $4.11
  • Adjusted EBITDA1 up 62% compared to 2015; improves to 15% of sales
  • Lumber segment leads improvement as U.S. housing continues to recover and previous capital investment contributes to improved productivity
  • Capital spending of $273 million and combined dividend and share buybacks of $212 million
  • Year end balance sheet strong with net debt to total capital ratio of 14%

Vancouver, B.C. – West Fraser reported earnings of $79 million or $1.01 basic earnings per share on sales of $1,107 million in the fourth quarter of 2016 and earnings of $326 million or $4.06 basic earnings per share on sales of $4,450 million for 2016.

Click here to see the full news release

West Fraser shares trade on the Toronto Stock Exchange under the symbol: “WFT”.

For more information:

Larry Hughes, Vice-President, Finance and Chief Financial Officer
Rodger Hutchinson, Vice-President, Corporate Controller and Investor Relations
(604) 895-2700

www.westfraser.com