West Fraser earnings miss estimates

VANCOUVER ― West Fraser Timber reported this week that its Q1 earnings fell as production and demand slowed. The company posted a loss of $5 million, or $0.07 per share, compared to a $197 million profit (EPS of $2.53) a year ago. Sales of $1.24 billion were down from $1.27 billion the previous quarter and $1.36 billion in Q1 of 2018. Adjusted earnings came to $22 million, $0.32 per share, compared $229 million ($2.96) a year ago. Analysts polled by Thomson Reuters Eikon had expected adjusted EPS of $0.56. During the quarter, West Fraser reinvested $108 million through capital expenditure and returned $64 million to shareholders through share buybacks and dividends.