Western Forest Prod (TSE:WEF) has released an update.
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Western Forest Products Inc. reported a reduced net loss of $8.0 million in Q1 2024, down from $17.7 million in Q1 2023, with an adjusted EBITDA of negative $4.2 million. The company saw a decline in lumber shipments but an increase in average selling prices due to a stronger sales mix. Additionally, Western announced the sale of a 34% interest in a forestry partnership to several First Nations, and the commissioning of a new kiln at their Saltair sawmill to boost production of higher-value products.
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