By Canadian Press

Western Forest Products narrows loss in second quarter to $5.7 million

Jul 31, 2024 | 1:59 PM

VANCOUVER — Western Forest Products Inc. says it lost $5.7 million during the second quarter, compared with a loss of $20.7 million a year earlier.

The Vancouver-based company says revenues were $309.5 million, rising from $276 million during the same quarter last year.

Diluted loss per share was one cent, compared with a loss of seven cents a year earlier.

The results were also improved from the first quarter, when the company posted a net loss of $8 million.

The company says its lumber shipments rose year-over-year, and while the average lumber selling price was softer, the average B.C. log sales price rose.

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Western Forest says it’s accelerating its transition to higher-value products as it completed the start-up phase of a continuous dry kiln at its Saltair sawmill.

This report by The Canadian Press was first published July 31, 2024.

Companies in this story: (TSX:WEF)

The Canadian Press