West Fraser Timber Co.Ltd (TSX:WFG)
C$ 128.8 3.18 (2.53%) Market Cap: 10.34 Bil Enterprise Value: 9.68 Bil PE Ratio: 0 PB Ratio: 1.07 GF Score: 87/100
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Q2 2024 West Fraser Timber Co Ltd Earnings Call Transcript

Jul 25, 2024 / 03:30 PM GMT
Release Date Price: C$117.23 (+7.06%)

Key Points

Positve
  • West Fraser Timber Co.Ltd (WFG) generated $272 million of adjusted EBITDA in Q2 2024, representing a 16% margin.
  • The North American Engineered Wood Products segment showed strong performance with $308 million of adjusted EBITDA, up from $188 million in Q1.
  • The pulp and paper segment improved significantly, generating $9 million of adjusted EBITDA in Q2 compared to $3 million in Q1 and a negative $74 million in Q2 of the previous year.
  • West Fraser Timber Co.Ltd (WFG) has $2 billion of total liquidity at quarter-end, providing financial flexibility and strength.
  • The company repurchased approximately 900,000 shares and increased its quarterly dividend by 7%, reflecting strong shareholder returns.
Negative
  • The lumber segment posted an adjusted EBITDA loss of $51 million in Q2, down from a positive $10 million in Q1.
  • Continued soft demand for Southern Yellow Pine (SYP) lumber products negatively impacted results.
  • Elevated mortgage rates in the US are constraining existing home sales activity and repair and remodeling spending.
  • West Fraser Timber Co.Ltd (WFG) anticipates a $35 million duty expense adjustment in Q3 due to increased softwood lumber duties.
  • The company reduced its 2024 guidance for Southern Yellow Pine shipments to a range of 2.5 to 2.7 billion board feet, down from the previous guidance of 2.7 to 2.9 billion board feet.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

WFG.TO - West Fraser Timber Co Ltd
Q2 2024 West Fraser Timber Co Ltd Earnings Call
Jul 25, 2024 / 03:30PM GMT

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Presentation
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Operator [1]
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Good morning, ladies and gentlemen, and welcome to the West Fraser Q2 2024 Results Conference Call. At this time, all lines are in a listen only mode. Following the presentation we'll conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Thursday, July 25th, 2024. During this conference call, West Fraser's representatives, we'll be making certain statements about West Fraser's future financial and operational performance.

Next outlook and capital plan. These statements may constitute forward-looking information on forward-looking statements, the meeting of Canadian and United States securities laws.
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