WFG FY 2017 Earnings Report — West Fraser Timber Co. Ltd. Revenue & Financial Results | Market Cap Arena

West Fraser Timber Co. Ltd.WFG

FY 2017 Earnings

Reported December 30, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2017	Prior Q	FY 2016	QoQ Change	YoY Change
Revenue	$3.0B	—	$2.4B	—	23.3%
Op. Income	$506M	—	$262M	—	92.9%
Gross Margin	39.2%	—	33.2%	—	5.9pp
Net Margin	11.6%	—	7.3%	—	4.3pp
EPS (Diluted)	$4.44	—	$2.12	—	109.3%
Free Cash Flow	$329M	—	$226M	—	45.4%

Revenue Flow

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$1.8B
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$380M
General & Administrative	$133M
SG&A Expenses	$513M
Other Expenses	$150M
Operating Expenses	$663M
Cost & Expenses	$2.5B
OPERATING INCOME	$506M
Interest Income	$0
Interest Expense	$18M
Other Income/Expenses	-$14M
INCOME BEFORE TAX	$492M
Income Tax Expense	$145M
Net Income from Continuing Ops	$347M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$347M
Net Income Deductions	$28M
BOTTOM LINE NET INCOME	$375M
D&A	$122M
EBIT	$507M
EBITDA	$629M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$1.8B
GROSS PROFIT	$1.2B
R&D Expenses	$0
Selling & Marketing	$380M
General & Administrative	$133M
SG&A Expenses	$513M
Other Expenses	$150M
Operating Expenses	$663M
Cost & Expenses	$2.5B
OPERATING INCOME	$506M
Interest Income	$0
Interest Expense	$18M
Other Income/Expenses	-$14M
INCOME BEFORE TAX	$492M
Income Tax Expense	$145M
Net Income from Continuing Ops	$347M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$347M
Net Income Deductions	$28M
BOTTOM LINE NET INCOME	$375M
D&A	$122M
EBIT	$507M
EBITDA	$629M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$347M
Depreciation & Amortization	$122M
Stock-Based Compensation	$0
Deferred Income Tax	$145M
Other Non-Cash Items	-$53M
Change in Working Capital	-$36M
OPERATING CASH FLOW	$525M
Capital Expenditure	-$195M
Acquisitions (Net)	-$306M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$5M
NET CASH FROM INVESTING	-$497M
Net Debt Issuance	$183M
Common Stock Repurchased	-$10M
Common Dividends Paid	-$16M
Other Financing Activities	-$45M
NET CASH FROM FINANCING	$132M
FREE CASH FLOW	$329M
Net Change in Cash	$130M

Balance Sheet

Item	Amount
Cash & Equivalents	$189M
Short-Term Investments	-$39M
Net Receivables	$205M
Inventory	$390M
Other Current Assets	$41M
TOTAL CURRENT ASSETS	$751M
PP&E (Net)	$1.1B
Goodwill	$410M
Intangible Assets	$325M
Long-Term Investments	$30M
Tax Assets	$3M
Other Non-Current Assets	$7M
TOTAL NON-CURRENT ASSETS	$1.9B
TOTAL ASSETS	$2.6B
Account Payables	$142M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$245M
TOTAL CURRENT LIABILITIES	$339M
Long-Term Debt	$370M
Deferred Revenue NC	$190M
Deferred Tax Liabilities	$131M
Other Non-Current Liabilities	$12M
TOTAL NON-CURRENT LIABILITIES	$703M
TOTAL LIABILITIES	$1.0B
Common Stock	$319M
Additional Paid-In Capital	$402M
Retained Earnings	$1.2B
Treasury Stock	$0
Accum. Other Comp. Income	$63M
Other Equity	-$402M
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$0
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$2.6B
Total Debt	$370M
Net Debt	$181M