B.C.’s big 3 lumber giants still making good profits
B.C.’s big three forestry giants had lumber and other wood product sales of $6.5 billion in the second quarter of 2022, and net income of $1.4 billion, according to second quarter financials. While second quarter earnings were down compared to Q1, due to lower lumber prices, demand and prices for lumber were still strong in the second quarter. B.C.’s biggest forestry company, West Fraser Timber, reported sales of $2.9 billion in the second quarter, and earnings of $762 million, which was down from $1 billion in earnings in the ...
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