Western Announces First Quarter 2026 Results

About this update from Western Forest Products Inc.

Western Announces First Quarter 2026 Results VANCOUVER, British Columbia, May 06, 2026 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) reported Adjusted EBITDA of negative $13.6 million in the first quarter of 2026. In comparison, the Company reported Adjusted EBITDA of $3.5 million in the first quarter of 2025 and Adjusted EBITDA of negative $6.2 million in the fourth quarter of 2025. Adjusted EBITDA in the first quarter of 2026, included a one-time $2.8 million expense due to changes in inventory accounting estimates related to the Company’s inventory costing model and a $1.9 million expense related to share-based compensation due to a 34% increase in the Company’s share price in the first quarter of 2026. Adjusted EBITDA included a $0.9 million expense in share-based compensation expense in the first quarter of 2025 and a $0.1 million expense in the fourth quarter of 2025. Net loss was $19.9 million in the first quarter of 2026, compared to net income of $13.8 million in the first quarter of 2025 and net loss of $17.5 million in the fourth quarter of 2025. (millions of Canadian dollars except per share amounts and where otherwise noted)Q12026 Q12025 Q42025 Revenue$201.5  $262.5  $201.9  Adjusted EBITDA(1) (13.6)   3.5   (6.2)  Adjusted EBITDA margin(1) (7%)   1%   (3%)  Operating loss prior to restructuring and other items$(25.5)  $(9.2)  $(18.9)  Net (loss) income (19.9)   13.8   (17.5)  Earnings (loss) per share, diluted (1.83)   1.33   (1.55)  Net debt(1), end of period 46.6   21.2   33.7  Liquidity(1), end of period 229.4   195.4   212.2  Net debt to capitalization 9%   4%   7%   (1)  Refer to Adjusted EBITDA, Adjusted EBITDA margin, Liquidity and Net debt to capitalization in the Non-GAAP Financial Measures section.Change in Lumber Volume Reporting Measurement Effective January 1, 2026, the Company changed its reporting measurement for lumber volumes from a previous mix of ...

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