West Fraser Timber Earnings Hit $366 Million in Q4

SEATTLE (Scrap Monster): West Fraser Timber Co. Ltd. announced results for the fourth quarter and full-year 2020. The company delivered strong results during the year, which was marked by several uncertainties on account of the Covid-19 pandemic.

The company press release claimed that it was able to maintain its strategy. The focus on workplace safety and the agility of its people and operations helped to reduce the pandemic-related business disruptions. The demand for products continued to remain strong during the year. The completion of acquisition of Norbord Inc. has led to geographic as well as product diversification.

The Q4 sales totalled CAD$1.689 billion. The earnings stood at $366 million or 22% of sales. West Fraser posted adjusted EBITDA of $544 million during the quarter. It declared a quarterly cash dividend of $0.20 declared.

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For the full year 2020, it reported sales of $5.850 billion. The earnings of $776 million accounted for 13% of sales. The adjusted EBITDA and cash provided by operating activities totalled $1.460 billion and $1.295 billion respectively. The company invested $241 million in capital investment projects. The liquidity at the end of the year was $1.619 billion. The net debt to capital ratio stood at 2%.