Western Announces Fourth Quarter 2019 ResultsHere is link to their earnings report in PDF format.
https://www.westernforest.com/wp-content/uploads/2020/02/NR-Results-2019-Q4-FINAL.pdf February 11, 2020 – Vancouver, British Columbia – Western Forest Products Inc. (TSX: WEF)
(“Western” or the “Company”) reported negative adjusted EBITDA of $18.1 million in the fourth quarter of 2019. Results were impacted by strike action by the United Steelworkers Local 1-1937 (“USW”) and weak markets. The Company continued to service customers and partly mitigated losses arising from labour disruptions at all of its timberlands and the majority of its British Columbia (“BC”) based manufacturing operations by selling available inventory, increasing its wholesale lumber program and deferring certain expenditures.
Net loss of $29.2 million ($0.09 net loss per diluted share) was reported for the fourth quarter of 2019, as compared to net income of $5.3 million ($0.02 net income per diluted share) for the fourth quarter of 2018 and net loss of $18.7 million ($0.05 net loss per diluted share) in the third quarter of 2019.