Business
Western Announces First Quarter 2025 Results
VANCOUVER, British Columbia, May 06, 2025 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: ...
About this update from Western Forest Products Inc.
[{"type":"text","content":"Western Announces First Quarter 2025 Results\n\n\n\n VANCOUVER, British Columbia, May 06, 2025 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) reported improved financial results in the first quarter of 2025, as compared to the same period last year. Net income was $13.8 million in the first quarter of 2025, as compared to a net loss of $8.0 million in the first quarter of 2024, and a net loss of $1.2 million in the fourth quarter of 2024. Adjusted EBITDA was $3.5 million in the first quarter of 2025, as compared to negative $4.2 million in the first quarter of 2024, and Adjusted EBITDA of $14.4 million in the fourth quarter of 2024.\n \n\n Net debt significantly declined from the fourth quarter of 2024 due to proceeds from non-core asset sales of $76.5 million completed in the first quarter of 2025. Net debt to capitalization was 4% at the end of the first quarter of 2025, as compared to 12% at the end of the fourth quarter of 2024, and 13% at the end of the first quarter of 2024.\n \n\n\n\n\n (millions of Canadian dollars except per share amounts and where otherwise noted\n \n\n )\n \n\n\n\n Q1\n \n\n\n 2025\n \n\n\n\n\n\n Q1\n \n\n\n 2024\n \n\n\n\n\n\n Q4\n \n\n\n 2024\n \n\n\n\n\n\n\n Revenue\n \n\n $\n \n\n 262.5\n \n\n\n\n\n\n $\n \n\n 239.5\n \n\n\n\n\n\n $\n \n\n 273.2\n \n\n\n\n\n\n\n\n Adjusted EBITDA\n \n (1)\n \n\n\n\n\n 3.5\n \n\n\n\n\n\n\n\n (4.2\n \n\n )\n \n\n\n\n\n\n 14.4\n \n\n\n\n\n\n\n\n Adjusted EBITDA margin\n \n (1)\n \n\n\n\n\n 1\n \n\n %\n \n\n\n\n\n\n (2\n \n\n %)\n \n\n\n\n\n\n 5\n \n\n %\n \n\n\n\n\n\n Operating loss prior to restructuring and other items\n \n\n $\n \n\n (9.2\n \n\n )\n \n\n\n\n $\n \n\n (17.3\n \n\n )\n \n\n\n\n $\n \n\n (0.4\n \n\n )\n \n\n\n\n\n\n Net income (loss)\n \n\n\n\n 13.8\n \n\n\n\n\n\n\n\n (8.0\n \n\n )\n \n\n\n\n\n\n (1.2\n \n\n )\n \n\n\n\n\n\n Earnings (loss) per share, diluted\n \n\n\n\n 0.04\n \n\n\n\n\n\n\n\n (0.02\n \n\n )\n \n\n\n\n\n\n (0.00\n \n\n )\n \n\n\n\n\n\n Net debt\n \n (\n \n\n 1\n \n\n )\n \n , end of period\n \n\n\n\n 21.2\n \n\n\n\n\n\n\n\n 83.6\n \n\n\n\n\n\n\n\n 77.6\n \n\n\n\n\n\n\n\n Liquidity\n \n (1)\n \n , end of period\n \n\n\n\n 195.4\n \n\n\n\n\n\n\n\n 142.1\n \n\n\n\n\n\n\n\n 144.6\n \n\n\n\n\n\n\n\n Net debt to capitalization\n \n\n\n\n 4\n \n\n %\n \n\n\n\n\n\n 13\n \n...