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Apr 25, 2018

West Fraser posts higher net earnings despite weather, transportation challenges

Softwood lumber

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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.