The earnings call reflects a balanced performance for West Fraser with strong liquidity, improved EBITDA, and successful portfolio optimization contrasted by losses in the Pulp & Paper segment, a significant non-cash impairment in Europe, and declining performance in the lumber segment. The company's strategic actions have mitigated some risks, but challenges remain, particularly in the U.S. South and Europe.

Company Guidance

During the West Fraser Q4 2024 Results Conference Call, the company reported generating $140 million in adjusted EBITDA for the fourth quarter, with a 10% margin. For the full year 2024, adjusted EBITDA was $673 million, an 11% margin, marking an improvement from $561 million in 2023. The North American Engineered Wood Products segment showed strength, while Southern Yellow Pine lumber volumes decreased. The company also managed a $21 million adjusted EBITDA in the lumber segment and $127 million in the North America EWP segment for Q4. However, the Pulp & Paper segment faced a $10 million adjusted EBITDA loss due to maintenance shutdowns. West Fraser ended 2024 with nearly $1.7 billion in liquidity and a net cash balance of $412 million after capital expenditures and shareholder returns. For 2025, they forecast capital expenditures between $400 million and $450 million, aligning with their strategy of countercyclical investing. Additionally, the call discussed potential impacts of U.S. tariffs and ongoing cost management efforts.

North American Engineered Wood Products Performance

The North American EWP segment achieved $127 million of adjusted EBITDA in Q4, up from $121 million in Q3, indicating strong segment performance.

Improved EBITDA for Fiscal Year

West Fraser generated $673 million of adjusted EBITDA in 2024, an improvement from $561 million in 2023, reflecting positive synergies from acquisitions and capital investments.

Strong Liquidity Position

The company closed the year with nearly $1.7 billion of available liquidity and $0.5 billion of net cash, providing financial flexibility.

Successful Portfolio Optimization

Optimization initiatives resulted in a $430 million EBITDA increase compared to the 2019 downturn, attributed to acquisitions and mill improvements.

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West Fraser Timber (TSE:WFG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:WFG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 29, 2025	2025 (Q1)	0.59 / -	0.42	―	―	―
Feb 12, 2025	2024 (Q4)	0.43 / -1.15	-2.653	56.52% (+1.50)
Oct 23, 2024	2024 (Q3)	-0.78 / -1.46	2.568	-156.91% (-4.03)
Jul 24, 2024	2024 (Q2)	1.62 / 1.70	-2.227	176.43% (+3.93)
Apr 23, 2024	2024 (Q1)	0.30 / 0.60	-0.738	180.77% (+1.33)
Feb 14, 2024	2023 (Q4)	-0.39 / -2.65	-1.603	-65.49% (-1.05)
Oct 25, 2023	2023 (Q3)	1.98 / 2.57	3.546	-27.60% (-0.98)
Jul 26, 2023	2023 (Q2)	0.06 / -2.23	10.767	-120.69% (-12.99)
Apr 25, 2023	2023 (Q1)	-0.53 / -0.74	14.54	-105.07% (-15.28)
Feb 14, 2023	2022 (Q4)	-0.34 / -1.60	4.44	-136.10% (-6.04)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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TSE:WFG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 12, 2025	C$119.75	C$114.24	-4.60%
Oct 23, 2024	C$130.35	C$131.97	+1.25%
Jul 24, 2024	C$108.73	C$116.41	+7.06%
Apr 23, 2024	C$106.30	C$106.66	+0.33%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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