Financial Reports & Markets
Western Forest Products notes lumber shipments up in Q2
August 7, 2018 By P&PC Staff
August 7, 2018 – Western Forest Products Inc. has published its second-quarter results, noting that lumber shipments increased 21 per cent over Q2 2017 and nine per cent over Q1 2018.
The company reported adjusted EBITDA of $50.2 million in the second quarter of 2018, compared to adjusted EBITDA of $47.1 million in the second quarter of 2017.
Operating income prior to restructuring and other income was $39.7 million in the second quarter of 2018, compared to $37.7 million in second quarter of 2017, and $32.6 million reported in the first quarter of 2018. The increased lumber shipments and lower manufacturing costs in the second quarter of 2018 offset the impacts of $11.7 million of US export lumber duty expense and significantly higher stumpage costs.
Western also returned $8.9 million to shareholders via the company’s recently increased quarterly dividend.
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