North American Q3 results largely positive

West Fraser Timber saw its total quarterly sales rise to C$878m (2012: C$772m), while earnings before interest, tax, depreciation and amortisation (EBITDA) rose to C$113m (2012: C$101m).

The lumber division's sales were up to C$581m from C$491m a year ago, with EBITDA up to C$83m (2012: C$57m).

Lumber prices were down compared to the previous quarter, triggering the reimposition of softwood lumber export taxes to the US.
For West Fraser's panels division - comprising plywood, MDF and LVL operations - sales were largely unchanged at C$120m, but earnings dropped to C$9m (2012: C$26m) due to lower plywood prices and higher logging and haulage costs.

Boise Cascade's EBITDA earnings rose 7% to US$39.5m, thanks to an improved performance in its building materials distribution business, which recorded EBITDA of US$20.1m (2012: US$12.6m).

Boise's wood products division increased sales by 9% to US$283.2m, thanks to volume and price growth in the engineered wood products business. But lower plywood sales prices and higher wood fibre costs offset the gains, leading to the division reporting EBITDA of US$24.6m (2012: US$28.6m.

Weyerhaeuser posted sales of US$2.1bn (2012: US$1.77bn) and net earnings of US$157m (2012: US$117m).

Its wood products division had largely unchanged sales at US$1.05bn, while net earnings dipped to US$79m from US$136m a year ago.

The division was hit by a 26% decline in average OSB selling prices compared with Q2, while lumber selling prices fell 7%.

“These declines were partially offset by improved average selling prices for engineered wood products, higher sales volumes across all product lines and lower western log costs," it said.