Last C$2.29 CAD
Change Today -0.03 / -1.29%
Volume 1.1M
WEF On Other Exchanges
Symbol
Exchange
Toronto
OTC US
Stuttgart
As of 3:59 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

western forest products inc (WEF) Snapshot

Open
C$2.29
Previous Close
C$2.32
Day High
C$2.32
Day Low
C$2.27
52 Week High
02/21/14 - C$2.68
52 Week Low
06/5/13 - C$1.21
Market Cap
986.5M
Average Volume 10 Days
2.9M
EPS TTM
C$0.27
Shares Outstanding
391.7M
EX-Date
02/27/14
P/E TM
8.5x
Dividend
C$0.08
Dividend Yield
2.62%
Current Stock Chart for WESTERN FOREST PRODUCTS INC (WEF)

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western forest products inc (WEF) Details

Western Forest Products Inc. operates as an integrated softwood forest products company. The company is involved in the harvesting of timber; reforestation; forest management; manufacture and sale of lumber and wood chips; sale of logs; and lumber remanufacturing. It processes logs, including western red cedar, hemlock, balsam, Douglas fir, yellow cedar, and spruce. The company markets its products directly to lumber distributors, manufacturers, trading houses, and wholesale customers. It sells its products approximately in 25 countries worldwide. Western Forest Products Inc. was founded in 1955 and is headquartered in Vancouver, Canada.

2,087 Employees
Last Reported Date: 02/20/14
Founded in 1955

western forest products inc (WEF) Top Compensated Officers

Chief Executive Officer, President and Non-In...
Total Annual Compensation: C$390.6K
Chief Financial Officer and Corporate Secreta...
Total Annual Compensation: C$279.1K
Vice President of Human Resources
Total Annual Compensation: C$187.2K
Vice President of Manufacturing
Total Annual Compensation: C$208.1K
Vice President of Lumber Sales & Marketing
Total Annual Compensation: C$193.1K
Compensation as of Fiscal Year 2013.

western forest products inc (WEF) Key Developments

Western Forest Products Inc. Announces Quarterly Dividend for the First Fiscal Quarter of 2014, Payable on or About March 21, 2014

Western Forest Products Inc. announced that a quarterly dividend of $0.02 per share will be paid with respect to the company's first fiscal quarter of 2014 to shareholders of record as at the close of business on March 3, 2014 and will be distributed on or about March 21, 2014.

Western Forest Products Inc. Announces Changes to Board of Directors

Western Forest Products Inc. announced that Dominic Gammiero, has retired as Chairman and Director effective February 21, 2014. Mr. Gammiero joined the board of directors in 2006 and served as Chief Executive Officer between October 2010 and February 2013, and as Chairman thereafter. Lee Doney, who has played a significant role in the turnaround of the Company since its restructuring in 2004 has been nominated by the Board of Directors to be Chairman, effective February 21, 2014.

Western Forest Products Inc. Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Update on Saltair Sawmill Project During 2013

Western Forest Products Inc. announced earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported sales of $242.0 million against $231.2 million a year ago. Adjusted EBITDA was $24.4 million against $14.3 million a year ago. Operating income before restructuring items and other income was $24.9 million against $21.0 million a year ago. Net income from continuing operations was $49.9 million against $14.5 million a year ago. Net income for the period was $49.9 million or $0.13 basic and diluted per share against $14.3 million or $0.03 basic and diluted per share a year ago. The increase in adjusted EBITDA resulted from higher average realized prices on log and lumber sales, partially offset by lower volumes of log sales and increased costs in its timberlands operations. Revenues were higher by $10.8 million, or 5% compared to the fourth quarter of 2012. Lumber and by-products revenues were higher with a small decline in log revenues. The improvement in net income was primarily due to the higher adjusted EBITDA earned in the current quarter, combined with the deferred income tax recovery of $26.5 million recognized in the fourth quarter of 2013. For the year, the company reported sales of $977.5 million against $925.4 million a year ago. Adjusted EBITDA was $128.8 million against $51.0 million a year ago. Operating income before restructuring items and other income was $105.5 million against $37.7 million a year ago. Net income from continuing operations was $125.9 million against $29.3 million a year ago. Net income for the period was $125.4 million or $0.28 diluted per share against $28.2 million or $0.06 basic and diluted per share a year ago. Net debt as at December 31, 2013 was $82.9 million against $15.0 million as on December 31, 2012. Improved adjusted EBITDA result was driven by stronger product demand leading to improved pricing, for its lumber and log sales, as well as continued execution on the part of its operations. The increase in net income from continuing operations is primarily driven by the $77.8 million increase in adjusted EBITDA in 2013. The company completed first phase of its $38.0 million Saltair sawmill project during 2013. To date, approximately $27.0 million of its planned improvements have been invested. This phase was focused on the back end of the mill and included a new sorter, trimmer and edgers. The installation was completed safely and on budget, and performance continues to improve towards target levels. The next phase of the project will involve the installation of a new log in-feed, with installation commencing in the second quarter of 2014. Once complete, the company’s Saltair sawmill will become the large single line sawmill on the BC coast. Installation of the Alberni Pacific sawmill autograder took place in November 2013, completing the first phase of this project. It is expected to deliver higher man-day productivity through increases in operating speeds and lumber recoveries, as well as improve the accuracy of lumber grading. To date, they have invested $3.8 million of the $6.7 million project. The second phase will incorporate a new lumber trimmer with completion targeted for the fourth quarter of 2014. The company will look to implement the new autograding technology at other mills. The company’s Cowichan Bay planer upgrade was completed in December 2013, and is performing well, setting a production record in the first week of operation. A log auto-rotation project is also planned for this mill and will be installed in the late second or early third quarter of 2014.

 

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WEF Competitors

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Company Last Change
Deltic Timber Corp $60.90 USD +0.69
Plum Creek Timber Co Inc $42.63 USD +1.03
Rayonier Inc $44.56 USD +0.30
St Joe Co/The $18.13 USD -0.09
Universal Forest Products Inc $53.00 USD -1.20
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Industry Analysis

WEF

Industry Average

Valuation WEF Industry Range
Price/Earnings 7.9x
Price/Sales 0.9x
Price/Book 2.3x
Price/Cash Flow 7.0x
TEV/Sales 0.8x
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