Western Forest Products (TSE:WEF) reported positive adjusted EBITDA for the third quarter of 2026, benefiting from higher realized lumber prices and stronger log shipments as it continued to navigate softwood lumber duties, tariffs and uneven demand.
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The company also moved into a net cash position after the quarter through the sale of its Stillwater Forest operation for approximately CAD 80 million. Management said it plans to preserve financial flexibility in the near term while considering investments and potential growth opportunities over a longer horizon.
Higher Log Shipments Support Results
Third-quarter adjusted EBITDA was CAD 1.9 million, compared with a loss of CAD 65.9 million in the same period a year earlier, Chief Financial Officer Glen Nontell said. The 2026 result included CAD 7.7 million in business interruption insurance recovery related to the former Columbia Vista operation, CAD 3.9 million in non-cash duty expense and CAD 1.2 million in share-based compensation expense.
Favorable harvesting conditions helped drive a 71% increase in log shipments, while lumber shipments fell 11%. Higher softwood lumber duties and tariffs also partly offset the benefit...