WFG Q1 2022 Earnings Report — West Fraser Timber Co. Ltd. Revenue & Financial Results | Market Cap Arena

West Fraser Timber Co. Ltd.WFG

Q1 2022 Earnings

Reported April 28, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2022	Q4 2021	Q1 2021	QoQ Change	YoY Change
Revenue	$3.1B	$2.0B	$2.3B	52.6%	32.7%
Op. Income	$1.4B	$450M	$879M	217.1%	62.3%
Gross Margin	62.2%	43.2%	55.7%	19.0pp	6.5pp
Net Margin	35.0%	16.4%	28.4%	18.7pp	6.7pp
EPS (Diluted)	$10.32	$3.24	$6.96	218.5%	48.3%
Free Cash Flow	$470M	-$121M	$400M	489.5%	17.5%

Revenue Flow

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$1.2B
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$220M
General & Administrative	$89M
SG&A Expenses	$309M
Other Expenses	$197M
Operating Expenses	$506M
Cost & Expenses	$1.7B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$7M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$330M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$7M
BOTTOM LINE NET INCOME	$1.1B
D&A	$157M
EBIT	$1.4B
EBITDA	$1.6B
EPS	$10
EPS Diluted	$10

Income Statement

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$1.2B
GROSS PROFIT	$1.9B
R&D Expenses	$0
Selling & Marketing	$220M
General & Administrative	$89M
SG&A Expenses	$309M
Other Expenses	$197M
Operating Expenses	$506M
Cost & Expenses	$1.7B
OPERATING INCOME	$1.4B
Interest Income	$0
Interest Expense	$7M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$1.4B
Income Tax Expense	$330M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$7M
BOTTOM LINE NET INCOME	$1.1B
D&A	$157M
EBIT	$1.4B
EBITDA	$1.6B
EPS	$10
EPS Diluted	$10

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$157M
Stock-Based Compensation	$0
Deferred Income Tax	$321M
Other Non-Cash Items	-$424M
Change in Working Capital	-$581M
OPERATING CASH FLOW	$563M
Capital Expenditure	-$93M
Acquisitions (Net)	-$1M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$2M
NET CASH FROM INVESTING	-$92M
Net Debt Issuance	-$5M
Common Stock Repurchased	-$189M
Common Dividends Paid	-$21M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$217M
FREE CASH FLOW	$470M
Net Change in Cash	$248M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.8B
Short-Term Investments	$0
Net Receivables	$808M
Inventory	$1.4B
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.0B
PP&E (Net)	$4.0B
Goodwill	$0
Intangible Assets	$2.8B
Long-Term Investments	$0
Tax Assets	$4M
Other Non-Current Assets	$311M
TOTAL NON-CURRENT ASSETS	$7.1B
TOTAL ASSETS	$11.1B
Account Payables	$888M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$48M
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$498M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$695M
Other Non-Current Liabilities	$242M
TOTAL NON-CURRENT LIABILITIES	$1.4B
TOTAL LIABILITIES	$2.6B
Common Stock	$3.3B
Additional Paid-In Capital	$0
Retained Earnings	$5.5B
Treasury Stock	$0
Accum. Other Comp. Income	-$269M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$8.5B
Minority Interest	$0
TOTAL EQUITY	$8.5B
TOTAL LIABILITIES & EQUITY	$11.1B
Total Debt	$498M
Net Debt	-$1.3B