Overview

* Western Forest Q3 revenue missed analyst expectations, declining from the previous year

* Adjusted EBITDA was negative C$65.9 mln, impacted by non-cash export duty expense

* Net loss widened to C$61.3 mln, compared to C$19.6 mln in Q3 2024

Outlook

* Company expects North American markets to remain weak due to high interest rates

* Incremental 10% US tariff complicates market dynamics amid weak demand

* Markets may improve by end of Q4 2025 or early 2026 as supply decreases

Result Drivers

* EXPORT DUTY EXPENSE - Adjusted EBITDA negatively impacted by non-cash export duty expense of C$59.5 mln from sixth Administrative Review

* LUMBER PRODUCTION CURTAILMENTS - Co took 30 mln board feet in lumber production curtailments in Q3 2025, plans for 35 mln in Q4 2025

* US TARIFF IMPACT - Recent 10% US tariff on imported lumber products complicates market dynamics amid weak demand

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss C$233 C$249

Revenue mln mln (1

Analyst)

Q3 EPS -C$5.71

Q3 Net -C$61.30

Income mln

Q3 -C$65.90

Adjusted mln

EBITDA

Q3 -28%

Adjusted

EBITDA

Margin

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the forest & wood products peer group is "buy."

* Wall Street's median 12-month price target for Western Forest Products Inc ( WFSTF ) is C$12.75, about 9.3% above its November 4 closing price of C$11.56

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)