WFG Q1 2021 Earnings Report — West Fraser Timber Co. Ltd. Revenue & Financial Results | Market Cap Arena

West Fraser Timber Co. Ltd.WFG

Q1 2021 Earnings

Reported March 31, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2021	Q4 2020	Q1 2020	QoQ Change	YoY Change
Revenue	$2.3B	$1.1B	—	116.8%	—
Op. Income	$879M	$311M	—	182.7%	—
Gross Margin	55.7%	46.1%	—	9.5pp	—
Net Margin	28.4%	20.4%	—	7.9pp	—
EPS (Diluted)	$6.96	$3.06	—	127.7%	—
Free Cash Flow	$400M	$194M	—	106.2%	—

Revenue Flow

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.0B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$181M
General & Administrative	$85M
SG&A Expenses	$266M
Other Expenses	$159M
Operating Expenses	$425M
Cost & Expenses	$1.5B
OPERATING INCOME	$879M
Interest Income	$0
Interest Expense	$13M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$870M
Income Tax Expense	$205M
Net Income from Continuing Ops	$665M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$665M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$665M
D&A	$122M
EBIT	$883M
EBITDA	$1.0B
EPS	$7
EPS Diluted	$7

Income Statement

Item	Amount
REVENUE	$2.3B
Cost of Revenue	$1.0B
GROSS PROFIT	$1.3B
R&D Expenses	$0
Selling & Marketing	$181M
General & Administrative	$85M
SG&A Expenses	$266M
Other Expenses	$159M
Operating Expenses	$425M
Cost & Expenses	$1.5B
OPERATING INCOME	$879M
Interest Income	$0
Interest Expense	$13M
Other Income/Expenses	-$9M
INCOME BEFORE TAX	$870M
Income Tax Expense	$205M
Net Income from Continuing Ops	$665M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$665M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$665M
D&A	$122M
EBIT	$883M
EBITDA	$1.0B
EPS	$7
EPS Diluted	$7

Cash Flow Statement

Item	Amount
Net Income	$665M
Depreciation & Amortization	$122M
Stock-Based Compensation	$0
Deferred Income Tax	$213M
Other Non-Cash Items	-$215M
Change in Working Capital	-$323M
OPERATING CASH FLOW	$462M
Capital Expenditure	-$62M
Acquisitions (Net)	$642M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$2M
NET CASH FROM INVESTING	$582M
Net Debt Issuance	-$4M
Common Stock Repurchased	-$93M
Common Dividends Paid	-$11M
Other Financing Activities	-$6M
NET CASH FROM FINANCING	-$109M
FREE CASH FLOW	$400M
Net Change in Cash	$939M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.8B
Short-Term Investments	$0
Net Receivables	$853M
Inventory	$1.4B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.1B
PP&E (Net)	$4.6B
Goodwill	$0
Intangible Assets	$3.5B
Long-Term Investments	$0
Tax Assets	$4M
Other Non-Current Assets	$269M
TOTAL NON-CURRENT ASSETS	$8.5B
TOTAL ASSETS	$12.5B
Account Payables	$1.0B
Short-Term Debt	$472M
Deferred Revenue	$0
Other Current Liabilities	$45M
TOTAL CURRENT LIABILITIES	$1.8B
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$907M
Other Non-Current Liabilities	$437M
TOTAL NON-CURRENT LIABILITIES	$2.4B
TOTAL LIABILITIES	$4.2B
Common Stock	$4.9B
Additional Paid-In Capital	$19M
Retained Earnings	$3.7B
Treasury Stock	$0
Accum. Other Comp. Income	-$300M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.3B
Minority Interest	$0
TOTAL EQUITY	$8.3B
TOTAL LIABILITIES & EQUITY	$12.5B
Total Debt	$1.5B
Net Debt	-$232M