West Fraser Announces First Quarter 2020 Results

Apr 28, 2020

Analyst Call:

Apr 29, 2020 - 8:30am PDT

West Fraser Timber Co. Ltd. ("West Fraser" or the "Company") (TSX: WFT) today reported results for the first quarter of 2020.

First Quarter Highlights

  • Sales of $1.195 billion, up 6% on prior quarter.
  • Adjusted EBITDA of $127 million, $47 million higher than prior quarter.
  • Improved prices, favourable foreign exchange rate movements, and lower fibre costs resulted in improved Adjusted EBITDA for the quarter.
  • Quarter-end liquidity of $294 million and net debt to capital ratio at 33%.
  • On April 9, 2020, secured an additional two-year $150 million committed revolving credit facility.
  • Progress on Dudley, Georgia sawmill on track.

West Fraser is a diversified wood products company producing lumber, LVL, MDF, plywood, pulp, newsprint, wood chips, other residuals and energy with facilities in western Canada and the southern United States.

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
(604) 895-2700