West Fraser Timber Co. Ltd. (WFG) shares lost 7.45% in after-hours on Friday, July 9, 2021, and closed the week at $69.40 per share. Earlier in the morning session, WFG’s stock gained 0.11% to close Friday’s session at $74.99 per share. WFG shares have risen 102.75% over the last 12 months, and they have moved up 3.91% in the past week. Over the past three months, the stock has lost 7.24%, while over the past six months, it has declined 17.06%.

Let’s see what’s going on recently with WFG?

Upcoming financial results announcement

West Fraser Timber Co. Ltd will hold an analysts’ conference call to discuss second quarter 2021 financial and operating results on Thursday, July 29, 2021, at 8:30 a.m. Pacific Time/11:30 a.m. Eastern Time.

Commencement of a substantial issuer bid 

On July 7, 2021, the board of directors of West Fraser Timber Co. Ltd approved the commencement of a substantial issuer bid, according to which the Company will offer to purchase from shareholders for cancellation up to C$1.0 billion of its outstanding Common shares. The Offer will proceed by way of a “modified Dutch auction” procedure with a tender price range from C$85.00 to C$98.00 per share, representing a 3% discount to a 12% premium over the Company’s volume-weighted average price on the Toronto Stock Exchange over the last 10 trading days.

Dividend declaration

On June 8, 2021, West Fraser Timber has increased its quarterly dividend by 25% to C$0.25 per share, which is payable on July 6, 2021, to investors of record on June 21, 2021.

Increasing share buyback authorization 

The company also increased its share buyback authorization to up to approximately 9.58 million of its common shares from the previous authorization of approximately 6.04 million shares.

Last financial results announcement

On May 6, 2021, West Fraser Timber Co. Ltd announced its first-quarter financial results which ended on

Q1 2021 financial highlights

• Total sales were $2.343 billion in Q1 2021 compared to 890 million in Q1 2020.
• Earnings were $665 million in Q1 2021 compared to $9 million in Q1 2020.
• The total cost and expenses were $1.464 billion in Q1 2021 compared to $881 million in Q1 2020.
• West Fraser Timber reported sales of $2.343 billion in Q1 2021 compared to $890 million in Q1 2020.

• Basic earnings per share were $6.96 in Q1 2021 compared to $0.13 in Q1 2020 and diluted EPS was $6.96 in Q1 2021 compared to $0.09 in Q1 2020.

Adjusted EBITDA was $1.008 billion in Q1 2021 compared to $68 million in the same quarter in 2020.

Conclusion

Well, we have no recent news or development which could justify its loss on Friday evening. We hope that WFG stock will commence the new week with positive momentum.