Pursuits
West Fraser Timber Profit Trails Estimates as Lumber Falls
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West Fraser Timber Co., the world’s largest softwood lumber producer, reported second-quarter profit that missed analysts’ estimates as prices slid.
Net income plunged to C$14 million ($10.8 million), or 17 cents a share, from C$74 million, or 87 cents, a year earlier, Vancouver-based West Fraser said in a statement on Tuesday after the close of trading. Profit excluding one-time items was 16 cents, trailing the 52-cent average of seven analysts’ estimates compiled by Bloomberg.