West Fraser Timber Co. Ltd. announced its fourth-quarter 2024 financial and operating results on February 12, 2025. The company reported sales of $1.405 billion for the quarter, a slight sequential decline from $1.437 billion in the third quarter of 2024.
The fourth quarter saw a loss of $62 million, or $(0.80) per diluted share, which was an improvement from the $83 million loss, or $(1.03) per diluted share, reported in the third quarter of 2024. Adjusted EBITDA significantly improved to $140 million in Q4 2024, up from $62 million in the prior quarter, though it included a non-cash impairment loss of $70 million related to Europe EWP goodwill.
For the full year 2024, West Fraser generated $6.174 billion in sales and a loss of $5 million, or $(0.07) per diluted share, an improvement from a $167 million loss in 2023. Full-year Adjusted EBITDA was $673 million, an increase from $561 million in 2023, demonstrating positive synergies and benefits from capital investment programs.
The company's liquidity profile showed cash and short-term investments at $641 million as of December 31, 2024, down from $900 million at December 31, 2023, primarily due to the repayment of $300 million senior notes. Capital expenditures for the full year 2024 were $487 million, reflecting continued investment in its asset base.
West Fraser's outlook for 2025 acknowledged near-term uncertainties, including persistent housing affordability challenges and the potential for U.S. administration tariffs on Canadian lumber imports. The company stated it would evaluate the impact of tariffs on its operations and consider revisions to shipment estimates as policies evolve.
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