West Fraser Announces First Quarter 2026 Results

VANCOUVER, BC , April 29, 2026 /PRNewswire/ – West Fraser Timber Co. Ltd. (“West Fraser” or the “Company”) (TSX and NYSE: WFG) reported today the first quarter results of 2026 (“Q1-26”). All dollar amounts in this news release are expressed in U.S. dollars unless noted otherwise. 

First Quarter Highlights   

• Sales of $1.334 billion and earnings of $(188) million, or $(2.40) per diluted share
• Adjusted EBITDA ¹ of $(66) million (including $114 million charge for duty adjustments related to prior periods), representing (5%) of sales  
• Lumber segment Adjusted EBITDA ¹ of $(84) million (including $114 million charge for duty adjustments related to prior periods)
• North America Engineered Wood Products (“NA EWP”) segment Adjusted EBITDA ¹ of $11 million
• Europe Engineered Wood Products (“Europe EWP”) segment Adjusted EBITDA ¹ of $10 million

“In the first quarter of 2026 we benefited from improved commodity pricing and continue to demonstrate the resilience of West Fraser’s diversified portfolio. Although net income was impacted by significant non-cash duty adjustments, these relate to prior year shipments. Operationally, our Blue Ridge lumber team did a remarkable job in quickly and effectively restoring operations following the January fire, with no recordable injuries, and the mill is now back to normal operating rates. The wind-down of our High Level, Alberta OSB mill is now complete and reflects our commitment to proactively aligning our supply with customer demand,” said Sean McLaren, West Fraser’s President and CEO. “Excluding the impact of prior year duty adjustments, we were pleased to see all of our core segments – lumber, NA EWP, and Europe EWP – report positive Adjusted EBITDA.” 

“Housing affordability continues to be a key constraint as we continue into 2026. The impact of the conflict in the Middle East has pushed 30-year mortgage rates back over 6%, which could cause additional headwinds as the year progresses. Our strong financial position and resilient balance sheet positions us well to navigate continued macroeconomic uncertainty while remaining disciplined in our approach to capital deployment. We continue to be focused on cost control, taking a disciplined approach to managing expenses and operationalizing the investments we have made through the past several years. These priorities form a key part of our strategy to continually strengthen our competitive position and generate long-term value for all stakeholders.”

Results Summary  

First quarter sales were $1.334 billion, compared to $1.165 billion in the fourth quarter of 2025. First quarter earnings were $(188) million, or $(2.40) per diluted share, compared to earnings of $(751) million, or $(9.63) per diluted share in the fourth quarter of 2025. First quarter Adjusted EBITDA was $(66) million compared to $(79) million in the fourth quarter of 2025. Included in first quarter Adjusted EBITDA in the Lumber segment is ($114) million of duty adjustments related to prior periods compared to nil in the fourth quarter of 2025.