West Fraser earnings rebound in Q1

VANCOUVER — West Fraser Timber reported results for the first quarter of 2020 that included sales of $1.2 billion, up six percent from the prior quarter but down 3.7 percent from $1.24 billion in the same quarter a year earlier. Earnings swung from a $5 million loss in Q1 2019 to positive earnings of $12 million in the latest quarter. The company cited improved prices, favourable foreign exchange and lower fibre costs for the improved Adjusted EBITDA for the quarter. West Fraser expects the COVID-19 pandemic production to continue to have a negative impact on production over the coming months “due to impact on the supply chain and market demand.”