West Fraser Q3 earnings: weak housing markets weigh heavily on wood products demand

West Fraser reported third-quarter results that came with few surprises as the company continues to navigate softening lumber demand and lower prices. Net sales declined over 18% year over year as all four primary segments posted declines, with the pulp and paper business faring worst in the group. Wood product markets have experienced little respite from housing market pressures as lower housing starts and higher interest rates constrain wood product demand. That said, the strength in West Fraser’s North America EWP business led to a $185 million consolidated operating profit, the first quarterly profit for the company ...