Monday, May 2, 2022
West Fraser Timber Co. Ltd. reported first-quarter earnings of $1.090 billion on total sales of 3.110 billion. Sales were up 33% compared to the first quarter of 2021.
Ray Ferris, West Fraser’s president and CEO, said, “We continued to manage significant transportation challenges and the resulting mill disruptions that commenced late last year in B.C. and that were exacerbated in the first quarter by the typical transportation issues posed by Canadian winters. These near-term constraints to North American supply were offset by continued strong demand for our products.
“While we continue to monitor rising mortgage rates and the potential risk to demand for new home construction and our wood building products, fundamentals for housing and repair and remodeling activity appear favorable,” Ferris continued. “I expect our team will continue to be agile and creative as we navigate our supply challenges and the evolving requirements of our customers.”
Tags: forestry, west fraser, wood and panel, woodworking and manufacturing, woodworking industry, woodworking USA