West Fraser Timber Co. Ltd. reported its second-quarter 2025 financial results on July 23, 2025. The company announced sales of $1.532 billion, an increase from $1.459 billion in the first quarter of 2025. However, earnings declined to $(24) million, or $(0.38) per diluted share, compared to earnings of $42 million, or $0.46 per diluted share, in the prior quarter.
Adjusted EBITDA for Q2 2025 was $84 million, a significant decrease from $195 million in Q1 2025. Sean McLaren, President and CEO, noted that demand for wood-based building products slowed in the second quarter, particularly in the North America Engineered Wood Products segment, consistent with softer U.S. new home construction data.
The company further reduced its 2025 operational guidance for SPF shipments to 2.6-2.8 billion board feet and SYP shipments to 2.4-2.6 billion board feet. North American OSB target shipments were also lowered to 6.3-6.5 billion square feet, reflecting continued housing affordability challenges and tariff policy uncertainty. The Cariboo Pulp & Paper mill is also anticipated to be down for approximately two weeks in late Q3 for annual maintenance.
Liquidity remained strong, with cash and short-term investments increasing slightly to $646 million at June 27, 2025, from $641 million at December 31, 2024. Capital expenditures for the second quarter were $78 million, and the company repurchased 1,094,770 shares under its NCIBs from January 1 to July 22, 2025.
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