Western Announces Third Quarter 2026 Results

VANCOUVER, British Columbia, Nov. 05, 2026 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) reported Adjusted EBITDA of $1.9 million in the third quarter of 2026, as compared to negative $65.9 million in the same period last year. Adjusted EBITDA in the third quarter of 2026 included $7.7 million related to business interruption insurance recovery from our Columbia Vista Division (“CVD”) sawmill, a $3.9 million non-cash expense related to a change in estimate on our export duty receivable for the first six softwood lumber administrative reviews (“AR”) and a $1.2 million expense related to share-based compensation. Results in the third quarter of 2025 included a $59.5 million non-cash export duty expense related to the determination of final duty rates from the sixth AR and a $0.5 million expense related to share-based compensation.

Net loss was $5.2 million in the third quarter of 2026, as compared to a net loss of $61.3 million for the same period last year. Results in the third quarter of 2026 benefitted from higher realized lumber prices, higher log shipments and the gain on the sale of our CVD sawmill site, partially offset by lower lumber shipments compared to the same period last year. Results in the third quarter of 2025 were negatively impacted by the finalization of the sixth AR.