Apr 25, 2018
West Fraser posts higher net earnings despite weather, transportation challenges
, The Canadian Press
VANCOUVER - West Fraser Timber Co. Ltd. (WFT.TO) is reporting net earnings of $197 million in the first quarter of 2018 compared with $123 million a year ago.
The company reported basic earnings per share of $2.53 versus $1.58 a year earlier. Analysts had expected $2.43 in reported earnings per share according to Thomson Reuters.
Sales rose to $1.36 billion from $1.19 billion in the first quarter of 2017.
The company says winter weather and transportation challenges, as well as full quarter of export duties, were a factor in its lumber segment's operating earnings falling to $189 million from $232 million in the fourth quarter of 2017.
It says it benefited from stronger prices for plywood and Canadian pulp.
