West Fraser Timber third-quarter earnings, sales lower compared with last year

VANCOUVER — West Fraser Timber Co. Ltd. says it earned US$159 million in the third quarter, compared with US$216 million a year earlier.

The Vancouver-based company says sales were US$1.7 billion, down from US$2.1 billion during the third quarter last year.

Earnings per diluted share were US$1.81, down from US$2.50 last year.

President and CEO Ray Ferris says the third quarter saw a continuation of challenging demand, especially in lumber.

As a result, Ferris says the company executed curtailments at several locations.

He says the company continues to focus on what it can control, such as improving flexibility and lowering costs.

This report by The Canadian Press was first published Oct. 25, 2023.

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The Canadian Press