{"id":701445,"date":"2022-10-26T17:36:27","date_gmt":"2022-10-26T21:36:27","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/west-fraser-announces-third-quarter-2022-results\/"},"modified":"2022-10-26T17:36:27","modified_gmt":"2022-10-26T21:36:27","slug":"west-fraser-announces-third-quarter-2022-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/west-fraser-announces-third-quarter-2022-results\/","title":{"rendered":"WEST FRASER ANNOUNCES THIRD QUARTER 2022 RESULTS"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"legendSpanClass\"><br \/>\n          <span class=\"xn-location\">VANCOUVER, BC<\/span><br \/>\n        <\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Oct. 26, 2022<\/span><\/span> \/PRNewswire\/ &#8211; West Fraser Timber Co. Ltd. (&#8220;West Fraser&#8221; or the &#8220;Company&#8221;) (TSX and NYSE: WFG) reported today the third quarter results of 2022 (&#8220;Q3-22&#8221;).\u00a0All dollar amounts in this news release are expressed in U.S. dollars unless noted otherwise.\u00a0<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b>Third Quarter Highlights\u202f<\/b>\u00a0<\/div>\n<ul type=\"disc\">\n<li>Sales of <span class=\"xn-money\">$2.088 billion<\/span> and earnings of <span class=\"xn-money\">$216 million<\/span>, or <span class=\"xn-money\">$2.50<\/span> per diluted share<\/li>\n<li>Adjusted EBITDA<sup>1<\/sup> of <span class=\"xn-money\">$426 million<\/span>, representing 20% of sales<\/li>\n<li>Lumber segment Adjusted EBITDA<sup>1<\/sup> of <span class=\"xn-money\">$160 million<\/span>, including <span class=\"xn-money\">$81 million<\/span> of export duty recovery<\/li>\n<li>North America Engineered Wood Products (&#8220;NA EWP&#8221;) segment Adjusted EBITDA<sup>1<\/sup> of <span class=\"xn-money\">$215 million<\/span><\/li>\n<li>Pulp &amp; Paper segment Adjusted EBITDA<sup>1<\/sup> of <span class=\"xn-money\">$29 million<\/span><\/li>\n<li>Europe Engineered Wood Products (&#8220;Europe EWP&#8221;) segment Adjusted EBITDA<sup>1<\/sup> of <span class=\"xn-money\">$24 million<\/span><\/li>\n<li>Repurchased 2.224 million shares for aggregate consideration of <span class=\"xn-money\">$182 million<\/span><\/li>\n<\/ul>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.\u00a0\u00a0\u00a0\u00a0 Adjusted EBITDA is a non-GAAP financial measure. Refer to the &#8220;Non-GAAP and Other Specified Financial Measures&#8221; section of this document for more information on this measure.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>&#8220;West Fraser generated solid financial results in the third quarter of 2022 and returned more than <span class=\"xn-money\">$200 million<\/span> of capital to shareholders through share repurchases and a quarterly dividend. Overall, West Fraser continues to benefit from product and geographic diversity and a track record of disciplined capital allocation,&#8221; said <span class=\"xn-person\">Ray Ferris<\/span>, West Fraser&#8217;s President &amp; CEO. &#8220;We saw considerable improvement in the transportation challenges that had impacted our business earlier this year. However, ongoing inflationary cost pressures and slowing demand for many of our key products impacted our financial results this quarter. Our team continues to prioritize financial discipline as we navigate near-term market uncertainties to ensure we are best positioned to take advantage of the more favourable demand markets we envision over the medium and longer term.&#8221;<\/p>\n<p>&#8220;To that end, with the support of the local community, we are pleased to announce the planned addition of a new state-of-the-art lumber manufacturing complex with the brownfield development at our <span class=\"xn-location\">Henderson, Texas<\/span> facility. This project is another important step in our strategy of optimizing our lumber portfolio by continuously driving cost efficiency through deployment of advanced technologies utilized by our skilled and engaged teams.&#8221;<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b>Results Summary<\/b>\u00a0<\/div>\n<p>Third\u00a0quarter sales were <span class=\"xn-money\">$2.088 billion<\/span>, compared to <span class=\"xn-money\">$2.887 billion<\/span> in the second quarter of 2022. Third quarter earnings were <span class=\"xn-money\">$216 million<\/span>, or <span class=\"xn-money\">$2.50<\/span> per diluted share, compared to <span class=\"xn-money\">$762 million<\/span>, or <span class=\"xn-money\">$7.59<\/span> per diluted share in the second quarter of 2022. Third quarter Adjusted EBITDA<sup>1<\/sup> was <span class=\"xn-money\">$426 million<\/span> compared to <span class=\"xn-money\">$1,124 million<\/span> in the second quarter of 2022.\u00a0\u00a0<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b>Liquidity and Capital Allocation<\/b>\u00a0<\/div>\n<p>Cash and short-term investments decreased to <span class=\"xn-money\">$1.323 billion<\/span> at <span class=\"xn-chron\">September 30, 2022<\/span> from <span class=\"xn-money\">$1.568 billion<\/span> at <span class=\"xn-chron\">December 31<\/span>, 2021.\u00a0\u00a0<\/p>\n<p>Capital expenditures in the third quarter were <span class=\"xn-money\">$147 million<\/span>.<\/p>\n<p>We paid <span class=\"xn-money\">$27 million<\/span> of dividends in the third quarter, or <span class=\"xn-money\">$0.30<\/span> per share, and declared a <span class=\"xn-money\">$0.30<\/span> per share dividend payable in the fourth quarter. \u00a0\u00a0<\/p>\n<p>In the third quarter of 2022, we repurchased 2,223,633 shares under our Normal Course Issuer Bid (&#8220;NCIB&#8221;) for aggregate consideration of <span class=\"xn-money\">$182 million<\/span>. As of October\u00a025, 2022, 9,725,139 shares have been repurchased under the current NCIB, leaving 468,861 shares available to purchase at our discretion until the expiry of the NCIB.<\/p>\n<p>As of October\u00a025, 2022, we have repurchased for cancellation 39,272,933 of the Company&#8217;s Common shares since the closing of the Norbord acquisition on <span class=\"xn-chron\">February 1, 2021<\/span> through the completion of the 2021 SIB and the 2022 SIB as well as normal course issuer bids, equalling 72% of the shares issued in respect of the Norbord Acquisition.<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b>Outlook<\/b>\u00a0<\/div>\n<p>\n        <i>Markets<\/i>\u00a0<\/p>\n<p>Several key trends that have served as positive drivers in recent years are expected to continue to support medium and longer-term demand for new home construction in <span class=\"xn-location\">North America<\/span>.<\/p>\n<p>The most significant uses for our <span class=\"xn-location\">North America<\/span> lumber, OSB and wood panel products are residential construction, repair and remodelling and industrial applications. Over the medium-term, we expect that an aging housing stock, lagging completions of previously started new home construction and greater acceptance of work-from-home practices may help to offset near-term headwinds and spur repair and renovation spending that supports lumber, plywood and OSB demand. Over the longer-term, growing market penetration of mass timber in industrial and commercial applications is also expected to become a more significant demand growth driver for wood building products in <span class=\"xn-location\">North America<\/span>.<\/p>\n<p>The seasonally adjusted annualized rate of U.S. housing starts averaged 1.44 million units in <span class=\"xn-chron\">September 2022<\/span>, with permits issued averaging 1.56 million units, according to the U.S. Census Bureau. However, demand for new home construction and our wood building products may decline in the near-term should interest rates continue to rise and consumer sentiment and housing affordability continue to be impacted.<\/p>\n<p>The demand for our European products is also expected to remain robust over the longer-term as use of OSB as an alternative to plywood continues to grow, and an aging housing stock supports long-term repair and renovation spending and additional demand for our wood building products. Near-term challenges, including rising interest rates, ongoing geopolitical developments and inflationary pressures, are expected to cause a temporary slowing of demand for our products in <span class=\"xn-location\">Europe<\/span>, however, we are confident that we will be able to navigate through these periods and capitalize on opportunities for long-term growth ahead.\u00a0<\/p>\n<p>\n        <i>Operations<\/i>\n      <\/p>\n<p>The extent of transportation challenges experienced in <span class=\"xn-location\">Western Canada<\/span> earlier in 2022 was more acute and of longer duration than originally anticipated, and as such we had reduced production at a number of our lumber facilities in <span class=\"xn-location\">Western Canada<\/span> to account for these constraints. More recently these transportation challenges have eased, however, we have experienced continued slowing of demand, in part owing to the transition into the seasonally slower Fall construction period. Given this combination of factors, we now expect our SPF lumber shipments for 2022 to be modestly below the bottom end of the prior guidance range of approximately 2.8 to 3.0 billion board feet while we reiterate expectations for our <span class=\"xn-money\">2022 SYP<\/span> shipments to be approximately 3.0 to 3.2 billion board feet. On <span class=\"xn-chron\">October 1, 2022<\/span>, stumpage rates decreased in B.C. due to the market-based adjustments related to lumber prices, and in the current commodity price environment, B.C. stumpage rates are expected to decrease again early in 2023. Despite falling lumber prices we expect U.S. log costs to remain elevated in a number of our operating regions over the next several quarters.<\/p>\n<p>In our NA EWP segment, transportation and logistics constraints across <span class=\"xn-location\">North America<\/span> showed signs of improvement in the third quarter, though we continue to see signs of slowing demand for our products. Therefore, we reaffirm expectations for OSB shipments in 2022 to be approximately 5.9 to 6.2 billion square feet (3\/8-inch basis). We also continue to expect that input costs for the NA EWP business will remain elevated in the near-term, due primarily to high energy and resin costs. Work at the Allendale OSB facility is ongoing to prepare the mill for an eventual restart when warranted by customer demand. We continue to expect the capital investment for the project to be approximately 10% above the original estimate of <span class=\"xn-money\">$70 million<\/span> and project completion to be by the end of the first quarter of 2023.<\/p>\n<p>We do not expect to increase our Pulp &amp; Paper segment shipments in 2022.<\/p>\n<p>Given ongoing inflationary and macroeconomic challenges in <span class=\"xn-location\">Europe<\/span>, including the <span class=\"xn-location\">Russia<\/span>&#8211;<span class=\"xn-location\">Ukraine<\/span> conflict, we expect OSB shipments for our Europe EWP segment in 2022 to be at the bottom end of the range of our guidance of approximately 1.0 to 1.2 billion square feet (3\/8-inch basis). Input costs for the Europe EWP business are expected to remain elevated in the near-term, due primarily to higher electricity, energy and resin costs.<\/p>\n<p>Across much of our supply chain, we continue to experience greater than usual inflationary cost pressures and availability constraints for labour, raw materials such as resins and chemicals, transportation and energy. We expect these factors to persist through the remainder of 2022 and into 2023.<\/p>\n<p>Last quarter we indicated that capital spending was expected to be near the bottom end of the <span class=\"xn-money\">$500 million<\/span> to <span class=\"xn-money\">$600 million<\/span> guidance range. However, based on our current outlook and owing to lengthening lead times for projects underway or planned, we anticipate that there will be a carryover of capital spending into 2023 for projects in progress, and as such we now expect to invest approximately <span class=\"xn-money\">$450 million<\/span> in 2022<sup>1<\/sup>.<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\" colspan=\"1\" rowspan=\"1\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 This is a supplementary financial measure. Refer to the &#8220;Non-GAAP and Other Specified Financial Measures&#8221; section of this document for more information on this measure.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b>Modernization of Henderson Lumber Manufacturing Complex<\/b>\n      <\/div>\n<p>As part of West Fraser&#8217;s ongoing modernization plans, the Company is undertaking a brownfield re-development of its facility in <span class=\"xn-location\">Henderson, Texas<\/span>. Similar to the <span class=\"xn-location\">Opelika, Alabama<\/span> and <span class=\"xn-location\">Dudley, Georgia<\/span> modernizations in recent years, the Company is planning to construct the new mill next to the existing <span class=\"xn-location\">Henderson<\/span> mill in order to leverage the positive attributes of the local ecosystem, including a robust fibre basket, close proximity to key end-markets, a strong workforce, and existing residuals outlets and transportation infrastructure. Capital investment for the new mill is an estimated <span class=\"xn-money\">$255 million<\/span> with construction start expected in Q4-22 and mill start-up planned for Q2-24; full run-rate production is not anticipated before 2025. Many of the latest technologies will be incorporated into the new mill, helping to reduce unit costs, increase product flexibility and improve employee working conditions and safety. Solar panels will also be incorporated at the facility in order to reduce emissions. Capacity of the new mill is anticipated to be 275 MMfbm, an approximate doubling of the existing mill&#8217;s annual capacity, with the mill&#8217;s mid-cycle EBITDA estimated to increase nearly four-fold, supporting a projected 12% after-tax internal rate of return.<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b>MD&amp;A<\/b>\u00a0<\/div>\n<p>Our Q3-22 MD&amp;A and unaudited interim condensed consolidated financial statements and accompanying notes are available on our website at <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3688901-1&amp;h=2003784927&amp;u=http%3A%2F%2Fwww.westfraser.com&amp;a=www.westfraser.com\" target=\"_blank\" rel=\"nofollow noopener\"><u>www.westfraser.com<\/u><\/a> and the System for Electronic Document Analysis and Retrieval (&#8220;SEDAR&#8221;) at <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3688901-1&amp;h=2759265160&amp;u=http%3A%2F%2Fwww.sedar.com&amp;a=www.sedar.com\" target=\"_blank\" rel=\"nofollow noopener\"><u>www.sedar.com<\/u><\/a> and the Electronic Data Gathering, Analysis and Retrieval System (&#8220;EDGAR&#8221;) website at <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3688901-1&amp;h=260050945&amp;u=http%3A%2F%2Fwww.sec.gov%2Fedgar.shtml&amp;a=www.sec.gov%2Fedgar.shtml\" target=\"_blank\" rel=\"nofollow noopener\"><u>www.sec.gov\/edgar.shtml<\/u><\/a> under the Company&#8217;s profile.\u00a0<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b>Sustainability Report<\/b>\u00a0<\/div>\n<p>West Fraser&#8217;s 2021 Sustainability Report is available on the Company&#8217;s website at <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3688901-1&amp;h=2003784927&amp;u=http%3A%2F%2Fwww.westfraser.com&amp;a=www.westfraser.com\" target=\"_blank\" rel=\"nofollow noopener\"><u>www.westfraser.com<\/u><\/a>. This report reviews the Company&#8217;s key Environmental, Social, and Governance (&#8220;ESG&#8221;) performance and includes information aligned with the Sustainable Accounting Standards Board (&#8220;SASB&#8221;), Global Reporting Initiative (&#8220;GRI&#8221;), the Task Force on Climate-Related Disclosures (&#8220;TFCD&#8221;) and CDP (formerly the Carbon Disclosure Project).\u00a0<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b>Risks and Uncertainties<\/b>\u00a0<\/div>\n<p>Risk and uncertainty disclosures are included in our 2021 annual MD&amp;A, as updated by the disclosures in our Q3-22 MD&amp;A, as well as in our public filings with securities regulatory authorities.\u00a0See also the discussion of &#8220;Forward-Looking Statements&#8221; below.\u00a0<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b>Conference Call<\/b>\u00a0<\/div>\n<p>West Fraser will hold an analyst conference call to discuss the Company&#8217;s Q3-22 financial and operating results on <span class=\"xn-chron\">Thursday, October 27, 2022<\/span>, at <span class=\"xn-chron\">8:30 a.m. Pacific Time<\/span> (<span class=\"xn-chron\">11:30 a.m. Eastern Time<\/span>).\u00a0To participate in the call, please dial: 1-888-390-0605 (toll-free <span class=\"xn-location\">North America<\/span>) or 416-764-8609 (toll) or connect on the webcast.\u00a0The call and an earnings presentation may also be accessed through West Fraser&#8217;s website at <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3688901-1&amp;h=2003784927&amp;u=http%3A%2F%2Fwww.westfraser.com&amp;a=www.westfraser.com\" target=\"_blank\" rel=\"nofollow noopener\"><u>www.westfraser.com<\/u><\/a>.\u00a0Please let the operator know you wish to participate in the West Fraser conference call chaired by Mr. <span class=\"xn-person\">Ray Ferris<\/span>, President and Chief Executive Officer.\u00a0<\/p>\n<p>Following management&#8217;s discussion of the quarterly results, investors and the analyst community will be invited to ask questions.\u00a0The call will be recorded for webcasting purposes and will be available on the West Fraser website at <a href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3688901-1&amp;h=2003784927&amp;u=http%3A%2F%2Fwww.westfraser.com&amp;a=www.westfraser.com\" target=\"_blank\" rel=\"nofollow noopener\"><u>www.westfraser.com<\/u><\/a>.\u00a0<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b>About West Fraser<\/b>\n      <\/div>\n<p>West Fraser\u00a0is a diversified wood products company with more than 60 facilities in <span class=\"xn-location\">Canada<\/span>, <span class=\"xn-location\">the United States<\/span> (&#8220;U.S.&#8221;), the <span class=\"xn-location\">United Kingdom<\/span> (&#8220;U.K.&#8221;), and <span class=\"xn-location\">Europe<\/span>. From responsibly sourced and sustainably managed forest resources, the Company produces lumber, engineered wood products (OSB, LVL, MDF, plywood, and particleboard), pulp, newsprint, wood chips, other residuals and renewable energy. West Fraser&#8217;s products are used in home construction, repair and remodelling, industrial applications, papers, tissue, and box materials.<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b>Forward-Looking Statements<\/b>\u00a0<\/div>\n<p>This news release includes statements and information that constitutes &#8220;forward-looking information&#8221; within the meaning of Canadian securities laws and &#8220;forward-looking statements&#8221; within the meaning of <span class=\"xn-location\">United States<\/span> securities laws (collectively, &#8220;forward-looking statements&#8221;). 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 &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;seeks,&#8221; &#8220;intends,&#8221; &#8220;targets,&#8221; &#8220;projects,&#8221; &#8220;forecasts&#8221; or negative versions thereof and other similar expressions, or future or conditional verbs such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; &#8220;would&#8221; and &#8220;could&#8221; to identify these forward-looking statements. These forward-looking statements generally include statements which reflect management&#8217;s expectations regarding the operations, business, financial condition, 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.<\/p>\n<p>Forward-looking statements included in this news release include references to the following and their impact on our business:<\/p>\n<ul type=\"disc\">\n<li>Demand in North American and European markets for our products, including demand from new home construction and repairs and renovations, the impact of rising interest rates and inflationary pressures and the growing penetration of mass timber;<\/li>\n<li>Disruptions in transportation services, and expectations as to the availability of transportation services;<\/li>\n<li>Operation guidance, including projected shipments, inflationary cost pressures on our input costs, stumpage rates and U.S. South log costs, projected capital expenditures and the timing, costs and potential return on investment of the restart of the Allendale OSB facility and the modernization of the <span class=\"xn-location\">Henderson<\/span> mill; and<\/li>\n<li>Plans for brownfield re-development and modernization of our facility in <span class=\"xn-location\">Henderson, Texas<\/span>, including any expectations around project timelines, capital investment, capacity, solar panel emission reduction, EBITDA impact and projected after-tax internal rate of return.<\/li>\n<\/ul>\n<p>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:<\/p>\n<ul type=\"disc\">\n<li>assumptions in connection with the economic and financial conditions in the U.S., <span class=\"xn-location\">Canada<\/span>, U.K., <span class=\"xn-location\">Europe<\/span> and globally and consequential demand for our products, including the impact of the conflict in the <span class=\"xn-location\">Ukraine<\/span>;<\/li>\n<li>continued increases in interest rates and inflation could impact housing affordability and repair and remodelling demand, which could reduce demand for our products;<\/li>\n<li>global supply chain issues may result in increases to our costs and may contribute to a reduction in near-term demand for our products;<\/li>\n<li>risks inherent to product concentration and cyclicality;<\/li>\n<li>effects of competition for logs 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;<\/li>\n<li>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;<\/li>\n<li>availability and costs of transportation services, including truck and rail services, and port facilities, the impacts on transportation services of wildfires and severe weather events, and the impact of increased energy prices on the costs of transportation services and the continuation of transportation constraints in <span class=\"xn-location\">Western Canada<\/span>;<\/li>\n<li>transportation constraints may continue to negatively impact our ability to meet projected shipment volumes;<\/li>\n<li>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;<\/li>\n<li>various events that could disrupt operations, including natural, man-made or catastrophic events including wildfires and any state of emergency and\/or evacuation orders issued by governments and ongoing relations with employees;<\/li>\n<li>risks inherent to customer dependence;<\/li>\n<li>impact of future cross border trade rulings or agreements;<\/li>\n<li>implementation of important strategic initiatives and identification, completion and integration of acquisitions;<\/li>\n<li>impact of changes to, or non-compliance with, environmental or other regulations;<\/li>\n<li>the impact of the COVID-19 pandemic on our operations and on customer demand, supply and distribution and other factors;<\/li>\n<li>government restrictions, standards or regulations intended to reduce greenhouse gas emissions and our ability to achieve our SBTi commitment for the reduction of greenhouse gases as planned;<\/li>\n<li>continued governmental approvals and authorizations to access timber supply;<\/li>\n<li>changes in government policy and regulation, including actions taken by the Government of <span class=\"xn-location\">British Columbia<\/span> pursuant to recent amendments to forestry legislation and initiatives to defer logging of forests deemed &#8220;old growth&#8221; and the impact of these actions on our timber supply;<\/li>\n<li>impact of weather and climate change on our operations or the operations or demand of its suppliers and customers;<\/li>\n<li>ability to implement new or upgraded information technology infrastructure;<\/li>\n<li>impact of information technology service disruptions or failures;<\/li>\n<li>impact of any product liability claims in excess of insurance coverage;<\/li>\n<li>risks inherent to a capital intensive industry;<\/li>\n<li>impact of future outcomes of tax exposures;<\/li>\n<li>potential future changes in tax laws, including tax rates;<\/li>\n<li>investigations, claims and legal and tax proceedings covering matters in the ordinary course of business activities that are subject to various uncertainties which if resolved unfavourably may result in a loss to the Company;<\/li>\n<li>effects of currency exposures and exchange rate fluctuations;<\/li>\n<li>future operating costs;<\/li>\n<li>availability of financing, bank lines, securitization programs and\/or other means of liquidity;<\/li>\n<li>continued integration of the Norbord business;<\/li>\n<li>continued access to timber supply in the traditional territories of Indigenous Nations;<\/li>\n<li>the risks and uncertainties described in our 2021 Annual MD&amp;A and Q3-22 MD&amp;A; and<\/li>\n<li>other risks detailed from time-to-time in our annual information forms, annual reports, MD&amp;A, quarterly reports and material change reports filed with and furnished to securities regulators.<\/li>\n<\/ul>\n<p>In addition, actual outcomes and results of these statements will depend on a number of factors including those matters described under &#8220;Risks and Uncertainties&#8221; in our 2021 MD&amp;A and may differ materially from those anticipated or projected.\u00a0 This list of important factors affecting forward\u2011looking statements is not exhaustive and reference should be made to the other factors discussed in public filings with securities regulatory authorities.\u00a0 Accordingly, readers should exercise caution in relying upon forward\u2011looking statements and we undertake no obligation to publicly update or revise any forward\u2011looking statements, whether written or oral, to reflect subsequent events or circumstances except as required by applicable securities laws.<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b>Non-GAAP and Other Specified Financial Measures<\/b>\n      <\/div>\n<p>Throughout this news release, we make reference to (i) certain non-GAAP financial measures, including Adjusted EBITDA and Adjusted EBITDA by segment (our &#8220;Non-GAAP Financial Measures&#8221;), and (ii) certain supplementary financial measures, including our expected capital expenditures (our &#8220;Supplementary Financial Measures&#8221;). We believe that these Non-GAAP Financial Measures and Supplementary Financial Measures (collectively, our &#8220;Non-GAAP and other specified financial measures&#8221;) 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 and do not have standardized meanings prescribed by IFRS. 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. 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. The reconciliation of the Non-GAAP measures used and presented by the Company to the most directly comparable IFRS measures is provided in the tables set forth below.<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b><br \/>\n          <i>Adjusted EBITDA\u00a0and Adjusted EBITDA by segment<\/i><br \/>\n        <\/b>\n      <\/div>\n<p>Adjusted EBITDA is used to evaluate the operating and financial performance of our operating segments, generate future operating plans, and make strategic decisions. Adjusted EBITDA is defined as earnings determined in accordance with IFRS adding back the following line items from the consolidated statements of earnings and comprehensive earnings: finance expense, tax provision or recovery, amortization, equity-based compensation, restructuring and impairment charges, and other.<\/p>\n<p>Adjusted EBITDA by segment is defined as segment earnings before tax determined for each reportable segment in accordance with IFRS adding back the following line items from the consolidated statements of earnings and comprehensive earnings for that reportable segment: finance expense, amortization, equity-based compensation, restructuring and impairment charges, and other.<\/p>\n<p>EBITDA is commonly reported and widely used by investors and lending institutions as an indicator of a company&#8217;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 should not, in our opinion, be considered in a long-term valuation metric or should not be included in an assessment of our ability to service or incur debt.<\/p>\n<p>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.<\/p>\n<p>The following table reconciles Adjusted EBITDA to the most directly comparable IFRS measure, earnings.<\/p>\n<p>\n        <b><br \/>\n          <i>Quarterly Adjusted EBITDA<\/i><br \/>\n        <\/b>\u00a0<br \/>($ millions)\u00a0<\/p>\n<div>\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen3\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n              \n            <\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Q3-22<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Q2-22<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Earnings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">216<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">762<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Finance (income) expense, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Tax provision<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">80<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">240<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Amortization<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">140<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">144<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Equity-based compensation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(12)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(24)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Adjusted EBITDA\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">426<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1,124<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>The following tables reconcile Adjusted EBITDA by segment to the most directly comparable IFRS measures for each of our reportable segments. We consider that segment earnings before tax is the most directly comparable measure for Adjusted EBITDA by segment, given we do not allocate consolidated tax amounts across our reportable segments.<\/p>\n<p>\n        <b><br \/>\n          <i>Quarterly Adjusted EBITDA by segment<\/i><br \/>\n        <\/b>\u00a0<br \/>($ millions)\u00a0<\/p>\n<div>\n<table border=\"1\" cellspacing=\"0\" cellpadding=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Q3-22<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Lumber<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>North <br \/>America EWP<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Pulp &amp; Paper<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Europe EWP<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Corporate &amp;<br \/>Other<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Earnings before tax<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 127<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 144<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 22<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 13<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (10)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 296<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Finance (income) expense, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(5)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Amortization<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">45<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">71<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">9<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">140<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Equity-based compensation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">5<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(7)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(12)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Adjusted EBITDA by segment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 160<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 215<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 29<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 24<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 426<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table border=\"1\" cellspacing=\"0\" cellpadding=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen10\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Q2-22<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Lumber<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>North<br \/>America EWP<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Pulp &amp; Paper<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Europe EWP<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Corporate<br \/>&amp; Other<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Earnings before tax<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 414<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 548<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (8)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 45<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,002<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Finance (income) expense, net<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(2)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">3<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Amortization<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">44<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">78<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">12<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">144<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Equity-based compensation<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen6\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">\u2014<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen7\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Other<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(8)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(6)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(6)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">(24)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen4\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">Adjusted EBITDA by segment<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 449<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 623<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen8\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 (3)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 54<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\" colspan=\"1\" rowspan=\"1\" nowrap=\"nowrap\">\n<p class=\"prnml4\">\n                <span class=\"prnews_span\">$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 1,124<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div class=\"wcag-arialevel-3\" style=\"font-size: 1.17em;font-weight: bold;text-align: left\" role=\"heading\">\n        <b><br \/>\n          <i>Expected capital expenditures<\/i><br \/>\n        <\/b>\n      <\/div>\n<p>This measure represents our best estimate of the amount of cash outflows relating to additions to capital assets for 2022 based on our current outlook. This amount is comprised primarily of various improvement projects and maintenance-of-business expenditures, projects focused on optimization and automation of the manufacturing process, and projects to reduce greenhouse gas emissions. 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&#8217;s 2021 Annual MD&amp;A and Q3-22 MD&amp;A.<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=VA14887&amp;sd=2022-10-26\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/west-fraser-announces-third-quarter-2022-results-301660363.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/west-fraser-announces-third-quarter-2022-results-301660363.html<\/a><\/p>\n<p>SOURCE  West Fraser Timber Co. Ltd.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=VA14887&amp;Transmission_Id=202210261701PR_NEWS_USPR_____VA14887&amp;DateId=20221026\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire VANCOUVER, BC , Oct. 26, 2022 \/PRNewswire\/ &#8211; West Fraser Timber Co. Ltd. (&#8220;West Fraser&#8221; or the &#8220;Company&#8221;) (TSX and NYSE: WFG) reported today the third quarter results of 2022 (&#8220;Q3-22&#8221;).\u00a0All dollar amounts in this news release are expressed in U.S. dollars unless noted otherwise.\u00a0 Third Quarter Highlights\u202f\u00a0 Sales of $2.088 billion and earnings of $216 million, or $2.50 per diluted share Adjusted EBITDA1 of $426 million, representing 20% of sales Lumber segment Adjusted EBITDA1 of $160 million, including $81 million of export duty recovery North America Engineered Wood Products (&#8220;NA EWP&#8221;) segment Adjusted EBITDA1 of $215 million Pulp &amp; Paper segment Adjusted EBITDA1 of $29 million Europe Engineered Wood Products (&#8220;Europe EWP&#8221;) segment Adjusted EBITDA1 of $24 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/west-fraser-announces-third-quarter-2022-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;WEST FRASER ANNOUNCES THIRD QUARTER 2022 RESULTS&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-701445","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>WEST FRASER ANNOUNCES THIRD QUARTER 2022 RESULTS - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/west-fraser-announces-third-quarter-2022-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WEST FRASER ANNOUNCES THIRD QUARTER 2022 RESULTS - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire VANCOUVER, BC , Oct. 26, 2022 \/PRNewswire\/ &#8211; West Fraser Timber Co. Ltd. (&#8220;West Fraser&#8221; or the &#8220;Company&#8221;) (TSX and NYSE: WFG) reported today the third quarter results of 2022 (&#8220;Q3-22&#8221;).\u00a0All dollar amounts in this news release are expressed in U.S. dollars unless noted otherwise.\u00a0 Third Quarter Highlights\u202f\u00a0 Sales of $2.088 billion and earnings of $216 million, or $2.50 per diluted share Adjusted EBITDA1 of $426 million, representing 20% of sales Lumber segment Adjusted EBITDA1 of $160 million, including $81 million of export duty recovery North America Engineered Wood Products (&#8220;NA EWP&#8221;) segment Adjusted EBITDA1 of $215 million Pulp &amp; Paper segment Adjusted EBITDA1 of $29 million Europe Engineered Wood Products (&#8220;Europe EWP&#8221;) segment Adjusted EBITDA1 of $24 &hellip; Continue reading &quot;WEST FRASER ANNOUNCES THIRD QUARTER 2022 RESULTS&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/west-fraser-announces-third-quarter-2022-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-26T21:36:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=VA14887&amp;sd=2022-10-26\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"19 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/west-fraser-announces-third-quarter-2022-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/west-fraser-announces-third-quarter-2022-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"WEST FRASER ANNOUNCES THIRD QUARTER 2022 RESULTS\",\"datePublished\":\"2022-10-26T21:36:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/west-fraser-announces-third-quarter-2022-results\\\/\"},\"wordCount\":3783,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/west-fraser-announces-third-quarter-2022-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=VA14887&amp;sd=2022-10-26\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/west-fraser-announces-third-quarter-2022-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/west-fraser-announces-third-quarter-2022-results\\\/\",\"name\":\"WEST FRASER ANNOUNCES THIRD QUARTER 2022 RESULTS - 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(&#8220;West Fraser&#8221; or the &#8220;Company&#8221;) (TSX and NYSE: WFG) reported today the third quarter results of 2022 (&#8220;Q3-22&#8221;).\u00a0All dollar amounts in this news release are expressed in U.S. dollars unless noted otherwise.\u00a0 Third Quarter Highlights\u202f\u00a0 Sales of $2.088 billion and earnings of $216 million, or $2.50 per diluted share Adjusted EBITDA1 of $426 million, representing 20% of sales Lumber segment Adjusted EBITDA1 of $160 million, including $81 million of export duty recovery North America Engineered Wood Products (&#8220;NA EWP&#8221;) segment Adjusted EBITDA1 of $215 million Pulp &amp; Paper segment Adjusted EBITDA1 of $29 million Europe Engineered Wood Products (&#8220;Europe EWP&#8221;) segment Adjusted EBITDA1 of $24 &hellip; Continue reading \"WEST FRASER ANNOUNCES THIRD QUARTER 2022 RESULTS\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/west-fraser-announces-third-quarter-2022-results\/","og_site_name":"Market Newsdesk","article_published_time":"2022-10-26T21:36:27+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=VA14887&amp;sd=2022-10-26","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"19 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/west-fraser-announces-third-quarter-2022-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/west-fraser-announces-third-quarter-2022-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"WEST FRASER ANNOUNCES THIRD QUARTER 2022 RESULTS","datePublished":"2022-10-26T21:36:27+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/west-fraser-announces-third-quarter-2022-results\/"},"wordCount":3783,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/west-fraser-announces-third-quarter-2022-results\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=VA14887&amp;sd=2022-10-26","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/west-fraser-announces-third-quarter-2022-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/west-fraser-announces-third-quarter-2022-results\/","name":"WEST FRASER ANNOUNCES THIRD QUARTER 2022 RESULTS - 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