West Fraser Deals With Softened Product Demand

West Fraser Timber Co. Ltd. sales of $2.358 billion for the third quarter of 2021, an increase over sales of $1,268 million in the third quarter of 2020. Earnings for the quarter were $460 million compared to $262 million in the year-ago period. Adjusted earnings before taxes were $786 million compared to $418 million last year. The lumber segment had operating earnings of $52 million compared to $955 million in the second quarter of 2021; the North America engineered wood products segment had operating earnings of $539 million compared to $1,106 million; and the pulp and paper segment had an operating loss of $15 million compared to operating earnings of $17 million. “While demand for a number of our products softened in the third quarter, fundamentals for housing remain favourable and we are seeing early signs of a recovery in repair and remodelling demand,” says Ray Ferris, president and CEO of West Fraser.