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      West Fraser Announces Third Quarter 2026 Results and Indefinite Curtailments in its OSB and Lumber Portfolios


      News provided by

      West Fraser Timber Co. Ltd.

      Oct 28, 2026, 17:30 ET

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      VANCOUVER, BC, Oct. 28, 2026 /CNW/ -- West Fraser Timber Co. Ltd. ("West Fraser" or the "Company") (TSX and NYSE: WFG) reported today the third quarter results of 2026 ("Q3-26"). The Company today also announced that it will indefinitely curtail its Huguley oriented strand board (OSB) mill in Lanett, Alabama and lumber mill in Leola, Arkansas. All dollar amounts in this news release are expressed in U.S. dollars unless noted otherwise. 

      Third Quarter Highlights

      • Sales of $1.363 billion and earnings of $(80) million, or $(1.03) per diluted share
      • Adjusted EBITDA1 of $38 million, representing 3% of sales  
      • Lumber segment Adjusted EBITDA1 of $34 million, including a $12 million favourable duties adjustment
      • North America Engineered Wood Products ("NA EWP") segment Adjusted EBITDA1 of $(4) million
      • Europe Engineered Wood Products ("Europe EWP") segment Adjusted EBITDA1 of $4 million
      • Issued $500M Term Loan due September 2029, refinancing existing $300M Term Loan due May 2028
      • Final AR7 Combined Duty Rate of 20.02%, maintaining lowest duty deposit rate advantage
      • Increased liquidity position to $1.2B at the end of the third quarter, repaid $55 million of operating loans
      • Guiding to lower end of previously released shipments guidance for SPF, SYP, and NA OSB

      Indefinite Curtailment of two mills

      West Fraser announced today that it will indefinitely curtail its Huguley OSB mill in Lanett, Alabama and lumber mill in Leola, Arkansas. These curtailments are expected to take effect in the fourth quarter following orderly wind-downs.

      These decisions are the result of continued weakness in demand for wood products used in new home construction and repair and renovation applications. These actions are expected to reduce West Fraser's OSB capacity by 500 million square feet (3/8-inch) and SYP capacity by 225 million board feet, both on an annual basis. 

      We expect to record an asset impairment loss between $200 million to $220 million in the fourth quarter of 2026 in connection with these indefinite curtailments.

      1.

      Adjusted EBITDA is a non-GAAP financial measure. Refer to the "Non-GAAP and Other Specified Financial Measures" section of this document for more information on this measure.

      Commentary

      "Over the last quarter, housing affordability continued to be a key constraint for wood products demand, which remains soft," said Sean McLaren, West Fraser's President and CEO. "We were also impacted by higher energy-related input costs. Our teams responded by running mills to demand, reducing inventory and controlling costs.

      With no near-term visibility on an improvement in demand, we took further steps today to align our supply with customer demand through the indefinite curtailments of our Huguley OSB mill in Lanett, Alabama and our lumber mill in Leola, Arkansas.

      Decisions like this are never easy because of the impact they have on our employees, their families and the communities where we operate. This action reflects the challenging market conditions facing our business and is not a reflection of the dedication and performance of our employees at Huguley and Leola, who have remained focused on operating safely while working diligently to position these mills for success. We are grateful for their hard work and contributions, and we are committed to supporting them through this transition.

      We now expect 2026 SPF, SYP and North American OSB shipments to be towards the lower end of our guidance ranges. We also strengthened our financial position by refinancing our term loan into a new $500 million facility maturing in September 2029, ending the quarter with an undrawn revolver and $1.2 billion of available liquidity."

      Results Summary 

      Third quarter sales were $1.363 billion, compared to $1.434 billion in the second quarter of 2026. Third quarter earnings were $(80) million, or $(1.03) per diluted share, compared to earnings of $(61) million, or $(0.78) per diluted share in the second quarter of 2026. Third quarter Adjusted EBITDA was $38 million compared to $59 million in the second quarter of 2026.

      Liquidity and Capital Allocation 

      Cash and short-term investments increased to $203 million at October 2, 2026 from $202 million at December 31, 2025. Our $1 billion credit facility was undrawn as of October 2, 2026.

      Capital expenditures were $212 million through the first nine months of 2026.

      We paid $75 million in dividends year-to-date in 2026, and in the third quarter declared a $0.32 per share dividend paid in the fourth quarter of 2026.

      From January 1, 2026 to October 2, 2026, no shares have been repurchased under the 2026 NCIB.

      Outlook 

      Markets 

      The most significant uses for our North American lumber, OSB and engineered wood panel products are residential construction, repair and remodelling and industrial applications. Over the medium to longer term, improvements in housing affordability supported by U.S. government policy changes, reductions in inflation and interest rates and the advanced age of the U.S. housing stock (with a median home age of approximately 45 years) are expected to support new home construction and repair and renovation activity that generates lumber, plywood and OSB demand. In addition, growing market penetration of mass timber in industrial and commercial applications is also expected to become a more significant source of demand growth for wood building products in North America.

      The seasonally adjusted annualized rate of U.S. housing starts was 1.22 million units in September 2026, with permits issued for 1.40 million units, according to the U.S. Census Bureau. While there are near-term uncertainties for new home construction and repair and renovation spending, owing in large part to weak consumer confidence and the level of mortgage rates and housing affordability, U.S. unemployment remains relatively low. However, U.S. employment growth has shown signs of slowing, while the conflict in the Middle East and the potential inflationary effects of tariff and other government policies may continue to exert upward pressure on inflation and interest rates. Given these developments, demand for our wood building products will continue to be challenged and may decline over the near term should the broader economy and employment slow or the trend in interest and mortgage rates continue to negatively impact consumer sentiment and housing affordability.

      We expect industry demand across Europe and the U.K. to remain broadly in line with current levels in the near term, as the market continues to deal with elevated interest rates, inflationary pressures brought on by the conflict in the Middle East and broader economic uncertainty. Over the longer term, we expect demand for our European products to increase as adoption of OSB and timber-frame construction expands and repair and renovation activity remains supported by an aging housing stock. We believe we are well positioned to navigate market conditions and capitalize on the long-term growth opportunities in our European markets.

      Operations

      Demand for lumber products in 2026 reflects ongoing housing affordability challenges. Given the current operating environment, our 2025 lumber mill closures and tighter management of inventory, we estimate our SPF and SYP shipments to be at the low end of the previously stated range of 2.4 to 2.7 billion board feet for 2026.

      In our NA EWP segment, we expect continued soft demand for our OSB products for the remainder of 2026 due to similar issues as faced in the Lumber segment. In light of these factors, as well as the High Level, Alberta OSB mill curtailment we completed in Q2-26, we estimate 2026 North American OSB shipments to be at the low end of the previously stated range of 5.9 to 6.3 billion square feet (3/8-inch basis).

      In our Europe EWP segment, we anticipate 2026 demand for our MDF, particleboard, and OSB panel products to remain stable or show modest improvement compared to 2025 levels, while continuing to monitor macroeconomic conditions in the region. As such, we are reiterating 2026 OSB shipments targeted in the range of 1.0 to 1.25 billion square feet (3/8-inch basis).

      Global events have contributed to an increase in oil‑based input costs, including fuels, chemicals and waxes. In our NA EWP segment, resin and wax costs are influenced by a range of factors, and while the relationship is not direct, resin and wax costs generally move in a similar direction as crude oil prices. Resin and wax costs increased by approximately $3 million in Q3-26 compared to Q2-26 across all of our mills, reflecting the combined impact of these factors.

      In addition, logging and transportation costs across our lumber operations have increased due to higher diesel costs and, particularly in the U.S. South,  reduced transportation labour availability. The impact of diesel inflation on SPF and SYP lumber costs is currently equivalent to approximately $15 per mfbm since the beginning of the year. In our OSB operations, higher diesel costs have been partially offset by lower pulpwood prices. On outgoing freight, much of this increase has been passed on via customer surcharges. We are managing our logging operations to mitigate the diesel price impact. In certain areas, we have purposely reduced log procurement in response to higher costs. Ongoing geopolitical uncertainty in the Middle East and broader macroeconomic conditions may continue to affect the duration and magnitude of these impacts.

      Based on our current outlook and assuming stable market demand conditions and no further extension of lead times for ongoing or planned projects, capital expenditures for 2026 are expected to remain within the $300 million to $350 million range.1 

      Refer to the discussion in our 2025 Annual MD&A under "Risks and Uncertainties - Trade Restrictions" under "Risks and Uncertainties" for a detailed discussion of the risks and uncertainties associated with the imposition of tariffs, which may impact our operational guidance and our profitability during 2026.

      Tariffs

      On September 29, 2025, the U.S. administration issued a proclamation that imposed a tariff of 10% under Section 232 of the Trade Expansion Act of 1962 on imported softwood timber and lumber into the U.S., effective October 14, 2025. This tariff is in addition to the existing softwood lumber duties applied to U.S. imports of Canadian lumber.

      On July 20, 2026, the U.S. administration announced new tariffs of 50% on certain Canadian products imported into the U.S. under Section 338 of the Tariff Act of 1930, effective August 22, 2026. On October 23, 2026, the U.S. administration announced modifications to the scope of certain tariffs imposed on Canadian products, effective October 30, 2026. The revised scope includes MDF products no thicker than 5 mm. In 2026, shipments to the United States of MDF products meeting the applicable criteria represented approximately 15% of our total MDF shipments. Our shipments to the U.S. of softwood lumber and OSB are not affected by Section 338 tariffs.

      For additional information, refer to the discussion in our 2025 Annual MD&A under "Risks and Uncertainties – Trade Restrictions" as supplemented by the discussion in our Q3-2026 MD&A under "Forward-Looking Statements". 

      Management Discussion & Analysis ("MD&A") 

      Our Q3-26 MD&A and interim consolidated financial statements and accompanying notes are available on our website at www.westfraser.com and the System for Electronic Document Analysis and Retrieval + ("SEDAR+") at www.sedarplus.ca and the Electronic Data Gathering, Analysis and Retrieval System ("EDGAR") website at www.sec.gov/edgar under the Company's profile. 

      1.

      This is a supplementary financial measure. Refer to the "Non-GAAP and Other Specified Financial Measures" section of this document for more information on this measure.

      Risks and Uncertainties 

      Risk and uncertainty disclosures are included in our 2025 Annual MD&A, as updated in the disclosures in our quarterly MD&A, as well as in our public filings with securities regulatory authorities. See also the discussion of "Forward-Looking Statements" below.

      Conference Call 

      West Fraser will hold an analyst conference call to discuss the Company's Q3-26 financial and operating results on Thursday, October 29, 2026, at 8:00 a.m. Pacific Time (11:00 a.m. Eastern Time). To participate in the call, please dial: 1-888-510-2154 (toll-free North America) or 437-900-0527 (toll) or connect on the webcast. The call and an earnings presentation may also be accessed through West Fraser's website at www.westfraser.com. Please let the operator know you wish to participate in the West Fraser conference call chaired by Mr. Sean McLaren, President and Chief Executive Officer. 

      Following management's discussion of the quarterly results, investors and the analyst community will be invited to ask questions. The call will be recorded for webcasting purposes and will be available on the West Fraser website at www.westfraser.com. 

      About West Fraser

      West Fraser is a diversified wood products company with more than 50 facilities in Canada, the United States, the United Kingdom, and Europe, which promotes sustainable forest practices in its operations. The Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), northern bleached softwood kraft pulp, paper, wood chips, and other residuals. West Fraser's products are used in home construction, repair and remodelling, industrial applications, papers and tissue. For more information about West Fraser, visit www.westfraser.com.

      Forward-Looking Statements 

      This news release includes statements and information that constitutes "forward-looking information" within the meaning of Canadian securities laws and "forward-looking statements" within the meaning of United States securities laws (collectively, "forward-looking statements"). Forward-looking statements include statements that are forward-looking or predictive in nature and are dependent upon or refer to future events or conditions. We use words such as "expects," "anticipates," "plans," "believes," "estimates," "seeks," "intends," "targets," "projects," "forecasts," or negative versions thereof and other similar expressions, or future or conditional verbs such as "may," "will," "should," "would," and "could," to identify these forward-looking statements. These forward-looking statements generally include statements which reflect management's expectations regarding the operations, business, financial condition, results of operations, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of West Fraser and its subsidiaries, as well as the outlook for North American and international economies for the current fiscal year and subsequent periods.

      Forward-looking statements included in this news release include references to the following and their impact on our business:

      • demand in North American and European markets for our products, including the anticipated near- and longer-term levels of demand from new home construction, repairs and renovations and industrial and commercial applications, and the timing and extent of any improvements in demand;
      • the impact on demand for our products resulting from the ongoing housing affordability challenges, the U.S. administration's tariffs and other government policies, inflation, interest rates, the age of U.S. housing stock, employment growth, conflicts in the Middle East and the timing and extent of any improvements in demand and our ability to benefit from some improvements;
      • international trade and trade restrictions, including the direct and indirect impact of Section 338 and Section 232 tariff actions;
      • the impact of sustained or higher elevated interest rates and inflationary pressures on mortgage rates and housing affordability;
      • continuation of reduced duty rates attributable to our lower AR7 duty deposit rate;
      • the anticipated growing market penetration of mass timber;
      • our plans to take action to ensure our operations are flexible, sized to meet the needs of our customers, and that they continue to be managed with a strong focus on controlling costs;
      • the continued ramp-up and production levels of our Henderson mill;
      • the anticipated stability of costs across our supply chain over the near term and continued challenges related to fuel and resin costs, transportation costs, labour availability and capital equipment lead times, the relationship between crude oil prices and resin and wax costs, the estimated impact of changes in crude oil prices on resin and wax costs and the duration and magnitude of these impacts;
      • operational guidance, including projected shipments, projected capital expenditures and the potential impact of tariffs on our projections; and
      • the continuation of investments in our assets and the maintenance of our balance sheet flexibility to be able to pursue a balanced capital allocation strategy and opportunistic growth objectives.

      By their nature, these forward-looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, which contribute to the possibility that the predictions, forecasts, and other forward-looking statements will not occur. Factors that could cause actual results to differ materially from those contemplated or implied by forward-looking statements include, but are not limited to:

      • assumptions in connection with the economic and financial conditions in the U.S., Canada, U.K., Europe and globally and consequential demand for our products, including the ability to meet our shipment guidance, and variability of operating schedules and the impact of the conflicts in Ukraine and the Middle East or elsewhere;
      • future increases in interest rates and inflation or continued sustained higher interest rates and rates of inflation could impact housing affordability and repair and remodelling demand, which could reduce demand for our products;
      • near and long-term impacts and uncertainties of U.S. administration tariffs, including direct and indirect impacts of the Section 338 tariffs and Section 232 tariffs, and other government policies on the demand and prices of our wood products in the U.S., the demand for products manufactured with our wood products and shipped to the U.S. and the consequential impact on the profitability of our Canadian business, financial condition, results of operations and cash flow and ability to meet our shipment guidance;
      • risks associated with international trade and trade restrictions, including impact of tariff actions and possible further actions from the Section 232 investigation such as potential tariffs, export controls, including quotas, or incentives to increase domestic production, future cross border trade rulings, agreements and duty rates, including the renegotiation of CUSMA and/or the failure to renew or replace CUSMA as well as the impact of other government policies, including the timing and effectiveness of affordability measures;
      • global supply chain issues may result in increases to our costs and may contribute to a reduction in near-term demand for our products;
      • continued governmental approvals and authorizations to access timber supply, and the impact of forest fires, infestations, environmental protection measures and actions taken and legislation adopted by government respecting Indigenous rights, title and/or reconciliation efforts on these approvals and authorizations, and evolving jurisprudence in Canada on aboriginal rights and title;
      • risks inherent in our product concentration and cyclicality;
      • effects of competition for logs, availability of fibre and fibre resources and product pricing pressures, including continued access to log supply and fibre resources at competitive prices and the impact of third-party certification standards; including reliance on fibre off-take agreements and third-party consumers of wood chips;
      • effects of variations in the price and availability of manufacturing inputs, including energy, employee wages, resin and other input costs, and the impact of inflationary pressures on the costs of these manufacturing costs, including increases in stumpage fees and log costs;
      • availability and costs of transportation services, including truck and rail services, and port facilities, and impacts on transportation services of wildfires and severe weather events, and the impact of increased energy prices on the costs of transportation services;
      • uncertainty and risks associated with future restructuring and impairment charges, including the quantum of the anticipated impairment charges concerning the Huguley OSB mill and the Leola lumber mill;
      • the recoverability of property, plant and equipment ($3,434 million), goodwill and intangibles ($1,688 million), both as at October 2, 2026, is based on numerous key assumptions which are inherently uncertain, including production volume, product pricing, operating costs, terminal multiple, and discount rate. Adverse changes in these assumptions could lead to a change in financial outlook which may result in carrying amounts exceeding their recoverable amounts and as a consequence an impairment, which could have a material non-cash adverse effect on our results of operations;
      • transportation constraints, including the impact of labour disruptions, may negatively impact our ability to meet projected shipment volumes;
      • the timing of our planned capital investments may be delayed, the ultimate costs of these investments may be increased as a result of inflation, and the projected rates of return may not be achieved;
      • various events that could disrupt operations, including natural, man-made or catastrophic events including drought, wildfires, fires, explosions, mechanical failures, cyber security incidents, any state of emergency and/or evacuation orders issued by governments, and ongoing relations with employees;
      • risks inherent to customer dependence;
      • implementation of important strategic initiatives and identification, completion and integration of acquisitions;
      • impact of changes to, or non-compliance with, environmental or other regulations;
      • government restrictions, standards or regulations intended to reduce greenhouse gas emissions and our inability to achieve our SBTi commitment for the reduction of greenhouse gases as planned;
      • the costs and timeline to achieve our greenhouse gas emissions objectives may be greater and take longer than anticipated;
      • changes in government policy and regulation, including actions taken by the Government of British Columbia pursuant to recent amendments to forestry legislation and initiatives to defer logging of forests deemed "old growth" and the impact of these actions on our timber supply;
      • impact of weather and climate change on our operations or the operations or demand of our suppliers and customers;
      • ability to implement new or upgraded information technology infrastructure;
      • impact of information technology service disruptions or failures or cyber security breaches or attacks;
      • impact of any product, property or general liability claims in excess of insurance coverage;
      • risks inherent to a capital intensive industry;
      • impact of future outcomes of tax exposures;
      • potential future changes in tax laws, including tax rates;
      • risks associated with investigations, claims and legal, regulatory and tax proceedings covering matters which if resolved unfavourably may result in a loss to and/or reputational issues for the Company;
      • effects of currency exposures and exchange rate fluctuations;
      • fair values of our electricity swaps may be volatile and sensitive to fluctuations in forward electricity prices and changes in government policy and regulation;
      • future operating costs;
      • availability of financing, bank lines, securitization programs and/or other means of liquidity;
      • continued access to timber supply in the traditional territories of Indigenous Nations and our ability to work with Indigenous Nations in B.C. to secure continued fibre supply for our lumber mills through various commercial agreements and joint ventures;
      • our ability to continue to maintain effective internal control over financial reporting;
      • the risks and uncertainties described in this document; and
      • other risks detailed from time to time in our annual information forms, annual reports, MD&A, quarterly reports and material change reports filed with and furnished to securities regulators.

      In addition, actual outcomes and results of these statements will depend on a number of factors including those matters described under "Risks and Uncertainties" in our 2025 Annual MD&A and the Q3-26 MD&A and may differ materially from those anticipated or projected. This list of important factors affecting forward‑looking statements is not exhaustive and reference should be made to the other factors discussed in public filings with securities regulatory authorities.  Accordingly, readers should exercise caution in relying upon forward‑looking statements and we undertake no obligation to publicly update or revise any forward‑looking statements, whether written or oral, to reflect subsequent events or circumstances except as required by applicable securities laws.

      Non-GAAP and Other Specified Financial Measures

      Throughout this news release, we make reference to (i) certain non-GAAP financial measures, including Adjusted EBITDA and Adjusted EBITDA by segment (our "Non-GAAP Financial Measures"), and (ii) certain supplementary financial measures, including our expected capital expenditures (our "Supplementary Financial Measures"). We believe that these Non-GAAP Financial Measures and Supplementary Financial Measures (collectively, our "Non-GAAP and other specified financial measures") are useful performance indicators for investors with regard to operating and financial performance and our financial condition. These Non-GAAP and other specified financial measures are not generally accepted financial measures under IFRS Accounting Standards and do not have standardized meanings prescribed by IFRS Accounting Standards. Investors are cautioned that none of our Non-GAAP Financial Measures should be considered as an alternative to earnings or cash flow, as determined in accordance with IFRS Accounting Standards. As there is no standardized method of calculating any of these Non-GAAP and other specified financial measures, our method of calculating each of them may differ from the methods used by other entities and, accordingly, our use of any of these Non-GAAP and other specified financial measures may not be directly comparable to similarly titled measures used by other entities. Accordingly, these Non-GAAP and other specified financial measures are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS Accounting Standards. The reconciliation of the Non-GAAP measures used and presented by the Company to the most directly comparable measures under IFRS Accounting Standards is provided in the tables set forth below. Figures have been rounded to the nearest million to reflect the precision of the underlying balances, which may result in minor discrepancies in the totals of certain tables due to rounding.

      Adjusted EBITDA and Adjusted EBITDA by segment

      Adjusted EBITDA is defined as earnings determined in accordance with IFRS Accounting Standards adding back the following line items from the consolidated statements of earnings and comprehensive earnings: finance income or expense, tax provision or recovery, amortization, equity-based compensation, restructuring and impairment charges, and other income or expense.

      Adjusted EBITDA by segment is defined as operating earnings determined for each reportable segment in accordance with IFRS Accounting Standards adding back the following line items from the consolidated statements of earnings and comprehensive earnings for that reportable segment: amortization, equity-based compensation, and restructuring and impairment charges.

      EBITDA is commonly reported and widely used by investors and lending institutions as an indicator of a company's operating performance, ability to incur and service debt, and as a valuation metric. We calculate Adjusted EBITDA and Adjusted EBITDA by segment to exclude items that do not reflect our ongoing operations and that should not, in our opinion, be considered in a long-term valuation metric or included in an assessment of our ability to service or incur debt.

      We believe that disclosing these measures assists readers in measuring performance relative to other entities that operate in similar industries and understanding the ongoing cash generating potential of our business to provide liquidity to fund working capital needs, service outstanding debt, fund future capital expenditures and investment opportunities, and pay dividends. Adjusted EBITDA is used as an additional measure to evaluate the operating and financial performance of our reportable segments.

      The following tables reconcile Adjusted EBITDA to the most directly comparable IFRS Accounting Standards measure, earnings.

      Quarterly Adjusted EBITDA
      ($ millions) 


      Q3-26

      Q2-26

      Loss

      $           (80)

      $           (61)

      Finance expense, net

      9

      9

      Tax recovery

      (20)

      (28)

      Amortization

      128

      133

      Equity-based compensation

      1

      5

      Restructuring and impairment reversal

      --

      (5)

      Other expense (income)

      (1)

      5

      Adjusted EBITDA 

      $            38

      $            59

      The following tables reconcile Adjusted EBITDA by segment to the most directly comparable IFRS Accounting Standards measures for each of our reportable segments. We consider operating earnings to be the most directly comparable IFRS Accounting Standards measure for Adjusted EBITDA by segment as operating earnings is the IFRS Accounting measure most used by the chief operating decision maker when evaluating segment operating performance.

      Quarterly Adjusted EBITDA by segment
      ($ millions) 

      Q3-26

      Lumber

      NA EWP

      Europe EWP

      Other Operating Segments

      Corporate & Eliminations

      Total

      Operating earnings (loss)

      $          (17)

      $         (67)

      $           (6)

      $            3

      $           (4)

      $          (92)

      Amortization

      51

      63

      10

      2

      2

      128

      Equity-based compensation

      --

      --

      --

      --

      1

      1

      Restructuring and impairment charges

      --

      --

      --

      --

      --

      --

      Adjusted EBITDA by segment

      $           34

      $          (4)

      $            4

      $            5

      $           --

      $           38

      Q2-26

      Lumber

      NA EWP

      Europe EWP

      Other Operating Segments

      Corporate & Eliminations

      Total

      Operating earnings (loss)

      $          (12)

      $          (47)

      $            2

      $          (11)

      $           (7)

      $          (74)

      Amortization

      53

      64

      11

      3

      2

      133

      Equity-based compensation

      --

      --

      --

      --

      5

      5

      Restructuring and impairment charges

      --

      (5)

      --

      --

      --

      (5)

      Adjusted EBITDA by segment

      $           41

      $           13

      $           13

      $           (8)

      $           --

      $           59

      Expected capital expenditures

      This measure represents our best estimate of the amount of cash outflows relating to additions to capital assets for the current year based on our current outlook. This amount is comprised primarily of various improvement projects and maintenance-of-business expenditures, and projects focused on optimization and automation of the manufacturing process. This measure assumes no deterioration in market conditions during the year and that we are able to proceed with our plans on time and on budget. This estimate is subject to the risks and uncertainties identified in the Company's 2025 Annual MD&A and Q3-26 MD&A.

      For More Information

      Investor Contact
      Anil Aggarwala
      Director, Treasurer and Investor Relations
      Tel. (604) 245-9718
      [email protected]

      Media Contact
      Joyce Wagenaar
      Director, Communications
      Tel. (604) 817-5539
      [email protected]

      SOURCE West Fraser Timber Co. Ltd.

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      Organization Profile

      West Fraser Timber Co. Ltd.

      West Fraser Timber Co. Ltd.

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