Fraser
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West Fraser earnings decline due to reduced lumber shipments
West Fraser Timber Co. Ltd. Thursday reported earnings of CA$ 118 million on sales of CA$ 833 million in the fourth quarter of 2013 and earnings of $ 349 million on sales of CA$ 3,474 million for 2013. The company's lumber operations generated operating earnings of CA$ 32 million (Q3 – CA$ 57 million) and EBITDA of CA$ 83 million (Q3 - CA$ 83 million). Restructuring charges of $24 million were included in the company's operating earnings in the quarter, representing costs associated with the planned closure of the West Fraser's Houston, B.C. sawmill. The benefit provided by higher lumber prices and a weaker Canadian dollar was offset by the effect of reduced shipments. Lumber markets weakened late in the quarter as severe weather reduced demand and also affected transportation. Despite prices strengthening for certain lumber grades and dimensions, West Fraser reports, prices... Continue reading
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February 14, 2014
West Fraser earnings decline due to reduced lumber shipments
West Fraser Timber Co. Ltd. Thursday reported earnings of CA$ 118 million on sales of CA$ 833 million in the fourth quarter of 2013 and earnings of $ 349 million on sales of CA$ 3,474 million for 2013. The company's lumber operations generated operating earnings of CA$ 32 million (Q3 – CA$ 57 million) and EBITDA of CA$ 83 million (Q3 - CA$ 83 million). Restructuring charges of $24 million were included in the company's operating earnings in the quarter, representing costs associated with the planned closure of the West Fraser's Houston, B.C. sawmill. The benefit provided by higher lumber prices and a weaker Canadian dollar was offset by the effect of reduced shipments. Lumber markets weakened late in the quarter as severe weather reduced demand and also affected transportation. Despite prices strengthening for certain lumber grades and dimensions, West Fraser reports, prices... Continue reading