West Fraser Timber GAAP EPS of -$1.03 misses by $0.25, revenue of $1.36B misses by $60M

• West Fraser Timber press release (WFG): Q3 GAAP EPS of -$1.03 misses by $0.25.
• Revenue of $1.36B (+3.8% Y/Y) misses by $60M.
• Adjusted EBITDA¹ of $38 million, representing 3% of sales
• Lumber segment Adjusted EBITDA¹ of $34 million, including a $12 million favourable duties adjustment
• North America Engineered Wood Products ("NA EWP") segment Adjusted EBITDA¹ of $(4) million
• Europe Engineered Wood Products ("Europe EWP") segment Adjusted EBITDA¹ of $4 million.
• Increased liquidity position to $1.2B at the end of the third quarter, repaid $55 million of operating loans
• Guiding to lower end of previously released shipments guidance for SPF, SYP, and NA OSB.
• "We now expect 2026 SPF, SYP and North American OSB shipments to be towards the lower end of our guidance ranges. We also strengthened our financial position by refinancing our term loan into a new $500 million facility maturing in September 2029, ending the quarter with an undrawn revolver and $1.2 billion of available liquidity."

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