West Fraser Timber Co. Ltd. reports fourth-quarter 2024 sales of $1.4 billion, with a net loss of $62 million. Annual sales reach $6.2 billion, with a $5 million loss for the year. The company expects 2025 shipments of up to 3 billion board feet of spruce-pine-fir and 2.8 billion board feet of southern yellow pine, with total capital expenditures projected between $400 million and $450 million.

The North American engineered wood products segment remains strong, generating an adjusted EBITDA of $127 million in Q4, while the lumber segment sees modest improvement at $21 million. European markets, however, continue to struggle, with an adjusted EBITDA of $2 million. The company attributes North America's demand stability to steady new home construction, despite high mortgage rates affecting affordability.

Looking ahead, West Fraser anticipates North American lumber, plywood, and OSB demand to remain supported by housing starts and renovation activity. The U.S. housing start rate reached 1.5 million units in December 2024, while interest rate cuts may improve affordability. In Europe and the U.K., market recovery is expected to be slow, though long-term OSB demand may increase as a plywood alternative.

Operational guidance for 2025 includes shipments of 6.9 billion square feet of North American OSB and up to 1.25 billion square feet in Europe. Input costs, including resins and chemicals, are expected to remain stable, while labor availability and equipment lead times are projected to improve. The company continues to monitor potential U.S. tariffs on Canadian exports and their impact on profitability.

West Fraser maintains a focus on optimizing its mill portfolio, shifting production to lower-cost facilities while investing in modernization where necessary. In Q4, the company repurchased 311,523 shares for $27 million, bringing total 2024 buybacks to 1.8 million shares valued at $144 million.