West Fraser Announces 2017 Annual and Fourth Quarter Results

Feb 14, 2018

Fourth Quarter

  • Sales of $1.376 billion, an increase of $269 million or 24% from the fourth quarter of 2016
  • Earnings of $207 million or basic EPS of $2.66
  • Adjusted earnings of $201 million or Adjusted basic EPS of $2.58
  • Adjusted EBITDA of $341 million or 24.8% of sales
  • Cash provided by operating activities of $254 million
  • Quarterly cash dividend of $0.15 declared, second increase in last six months

2017

  • Sales of $5.134 billion
  • Earnings of $596 million or basic EPS of $7.63 per share
  • Adjusted earnings of $659 million or Adjusted basic EPS of $8.44
  • Adjusted EBITDA increased by $486 million to $1.16 billion, 22.6% of sales
  • Cash provided by operating activities of $902 million
  • Reinvested $336 million through capital expenditure and $526 million to growth through the acquisition of Gilman
  • Returned $45 million of capital to shareholders through share buybacks and dividends
  • Year-end liquidity strong with $551 million of available bank lines and $258 million of cash, net debt to capital ratio improved from 14% to 12%. 

Vancouver, B.C. – West Fraser reported earnings of $207 million or $2.66 basic earnings per share on sales of $1,376 million in the fourth quarter of 2017 and earnings of $596 million or $7.63 basic earnings per share on sales of $5,134 million for 2017.

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

For more information:

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

www.westfraser.com