VANCOUVER — Western Forest Products reported solid third-quarter results, with net income of $11.5 million, reversing a net loss of $18.7 million for the third quarter of 2019 and improving on net income of $8.5 million from the second quarter of 2020.
The company says strong demand from the repair and renovation and new home building sectors, combined with constrained supply, managed to drive record pricing for logs and lumber in the quarter. Western restarted some idled mill operations during the quarter and was able to increase lumber shipments by 10 percent over the previous quarter. Operating income prior to restructuring and other items was $19.0 million, compared to a loss of $24.2 million a year earlier.
