Brief: Western Forest Products Posts Q4 Shr Loss C$0.09

Western Forest Products

12/02/2020 02:38

Feb 11 (Reuters) - Western Forest Products Inc  WEF.TO :
    * WESTERN ANNOUNCES FOURTH QUARTER 2019 RESULTS
    * Q4 REVENUE C$80.1 MILLION VERSUS C$284.8 MILLION
    * Q4 LOSS PER SHARE C$0.09
    * Q4 EARNINGS PER SHARE ESTIMATE C$-0.07 -- REFINITIV IBES
DATA
    * WESTERN FOREST PRODUCTS- Q4 RESULTS SIGNIFICANTLY IMPACTED
BY
STRIKE, AS ALL OF TIMBERLANDS, MOST BC BASED MANUFACTURING
OPERATIONS WERE CURTAILED
    * STRIKE IS EXPECTED TO HAVE NEGATIVE IMPACT ON Q1 RESULTS
IN 2020
COMPARED TO SAME PERIOD LAST YEAR
    * COMPANY HAS REDUCED STRATEGIC CAPITAL INVESTMENT IN BC
    * IN SHORT TERM, CORONAVIRUS COULD RESULT IN TEMPORARY SLOW
DOWN
OF LOG AND LUMBER IMPORTS TO CHINA
    * EXPECT LOG MARKET IN CHINA TO REMAIN COMPETITIVE OVER NEAR
TERM
    * EXPECT MODEST IMPROVEMENTS IN PULP LOG AND CHIP PRICING IN
2020
DUE TO LIMITED SUPPLY
    * LUMBER REVENUE IN Q4 WAS $66.1 MILLION, A DECREASE OF
71.4% FROM
SAME PERIOD LAST YEAR
    * WESTERN FOREST PRODUCTS- DURING Q4 2019, INCURRED $2.1
MILLION
IN SEVERANCE AND RELATED EXPENSES DUE TO REDUCTION OF ABOUT 10%
IN SALARIED EMPLOYEES

Source text for Eikon:  ID:nGNXc7VhCB 
Further company coverage:  WEF.TO 

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