Earnings per diluted share were 42 cents US, compared with a loss of 52 cents during the same quarter last year.

The Vancouver-based company says sales totalled US$1.63 billion, unchanged from a year earlier. 

West Fraser president and CEO Sean McLaren says the company is already seeing early financial benefits from the recent closures of some of its higher-cost lumber mills. 

Earlier this year, West Fraser announced it was permanently closing a sawmill in Fraser Lake, B.C., closing another in Maxville, Fla., and indefinitely curtailing operations at its Huttig, Ark., sawmill.

More recently, at the beginning of April, West Fraser announced it and Mercer International Inc. were dissolving their joint venture in Cariboo Pulp and Paper, with West Fraser to be the sole owner and operator.

This report by The Canadian Press was first published April 23, 2024.

Companies in this story: (TSX:WFG)

Sponsored

Trade Smarter, Today

With CIBC Investor's Edge, kick-start your portfolio with 100 free trades and up to $4,500 cash back.

The Canadian Press is a national wire service that provides real-time stories for more than 600 media companies.

Explore the latest articles

Credit card hacks for international travel

Many credit cards offer amazing travel benefits, but it's important to be mindful of fees, safety and hidden charges that can quickly add up

Winston Sih Journalism lecturer | Contributor