Western Announces Second Quarter 2023 Results

VANCOUVER, British Columbia, Aug. 03, 2023 (GLOBE NEWSWIRE) -- Western Forest Products Inc. (TSX: WEF) (“Western” or the “Company”) reported a net loss of $20.7 million in the second quarter of 2023 including $8.5 million in inventory provisions, as compared to a net loss of $17.7 million in the first quarter of 2023, and net income of $38.6 million in the second quarter of 2022. Results in the second quarter of 2023 reflect more challenging macroeconomic conditions, resulting in lower lumber prices and reduced demand compared to the same period last year.

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