The following is a summary of the Western Forest Products, Inc. (WFSTF) Q2 2024 Earnings Call Transcript:

Financial Performance:

• Western Forest Products reported Q2 EBITDA of $9.4 million, recovering from a negative $12 million in the same period last year.

• End of Q2 liquidity at approximately $142 million and net debt to cap ratio at 13%.

• Company revised 2024 total CapEx to approximately $40 million, with $35 million budgeted for two new continuous kilns in 2025.

Business Progress:

• Announced Glen Nontell as the new CFO, highlighting a transition in leadership.

• Launched the new Saltair kiln which processed 14.5 million board feet of lumber, achieving uptime production and value performance targets.

• Advancing pre-engineering and permitting for two previously announced continuous kilns, each with a capacity of approximately 70 million board feet, expected to be completed in 2025.

Opportunities:

• Cedar demand and prices for timber and premium appearance products expected to remain stable.

• Anticipates stable demand for industrial products and continuing market outreach for value-added products.

Risks:

• Third quarter typically faces operational challenges due to hot, dry weather impacting logging activity and harvest volumes. Also, harvest permit delays might affect production.

• As no significant forest fires have impacted their area so far, ongoing potential fire risks could still affect operations later in the season.

• Weaker Japanese yen and stocked inventories potentially impacting sales in Japan.

More details: WESTERN FOREST PRODUCTS INC IR

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