West Fraser Reports Challenging Q3 2025 with Net Loss Amid Tariff Impact and Market Uncertainty

West Fraser Timber Co. Ltd. reported third-quarter 2025 sales of $1.307 billion, down from $1.532 billion in Q2, with a net loss of $204 million ($2.63 per diluted share) compared to a loss of $24 million in the prior quarter. Adjusted EBITDA was negative $144 million, reflecting ongoing supply-demand imbalances exacerbated by higher U.S. Section 232 tariffs on Canadian softwood lumber effective October 14, 2025. The lumber segment posted an adjusted EBITDA loss of $123 million, which included $67 million in export duty expenses. Despite these challenges, West Fraser remains committed to flexible operations, cost control, and strategic investments to maintain long-term shareholder value. The company anticipates medium to long-term demand growth from improving housing affordability, repair and remodeling activity, and increasing market penetration of mass timber products. Capital expenditures totaled $90 million in Q3, with dividends maintained at $0.32 per share. Near-term market uncertainty persists due to tariff effects and mortgage rate fluctuations.