Western Forest Products reported a smaller loss than analysts expected, though investors still face a difficult earnings picture. Adjusted EBITDA improved sharply from a year earlier, but the quarter included an insurance recovery.
Western Forest Products Inc. (WEF.TO) reported calendar EPS of -C$1.30 for the quarter ended September 30, 2026, compared with analysts’ estimate of -C$1.40. That’s a 7.1% positive surprise, but the company remained loss-making. Adjusted EBITDA was C$1.9 million, compared with a C$65.9 million loss a year earlier. The quarter included a C$7.7 million insurance recovery.
Recent earnings trend
Western Forest Products Inc
WEF.TO
WEF.TO
Western Forest Products Inc
WealthAwesomeMarket cap
$162.38M
52W high
$19.95
52W low
$10.16
1W change
-0.39%
Beta
0.65
Analyst Price Targets
Based on analyst covering WEF · as of Oct 19, 2026
Wall Street analysts forecast WEF stock price to rise 18.7% over the next 12 months.
Consensus
BullishBased on avg. target vs last close (formal rating unavailable for Canadian listings)
Avg. Target
C$18.25
+18.7% Upside
Previously C$18.75 on Oct 15, 2026
Current Price
C$15.38
Last close
Targets are snapshotted when they change. Unchanged figures keep their original date. Not financial advice.
Wealth Awesome Price Forecast
WA ModelStatistical 90-day price range based on WEF's historical volatility
30-Day Vol
44.6%
Annualized
90-Day Vol
45.1%
Annualized
Trend (90d)
-50.0%
Annualized drift
90d Mean
C$12.86
Expected price
| Horizon | Expected | 68% Range (1σ) |
|---|---|---|
| 30 trading days | C$14.49 | C$12.42 – C$16.90 |
| 60 trading days | C$13.65 | C$10.98 – C$16.97 |
| 90 trading days | C$12.86 | C$9.85 – C$16.79 |
Methodology: Range is calculated using 30-day realized volatility via geometric Brownian motion (log-normal model). 68% band = ±1σ, 95% band = ±2σ. This is a statistical model, not a prediction. Past volatility does not guarantee future results. Not financial advice.
Analyst coverage: 1 analyst(s) cover this name; upcoming EPS consensus is available.
Beat estimates in 3 of the last 4 comparable quarter(s).
| Fiscal period | Report date | Actual EPS | Estimate | Surprise |
|---|---|---|---|---|
| 2026-12-31 | 2027-02-09 | — | -1.3300 | — |
| 2026-09-30 | 2026-11-05 | -1.3000 | -1.4000 | +7.1% |
| 2026-06-30 | 2026-08-11 | 1.2600 | -1.0300 | +222.3% |
| 2026-03-31 | 2026-05-06 | -1.7100 | -1.6600 | -3.0% |
| 2025-12-31 | 2026-02-10 | -1.4700 | -1.6900 | +13.0% |
| 2025-09-30 | 2025-11-05 | -5.7100 | -1.3900 | -310.8% |
Investor takeaway: The EPS beat marks an improvement, not a return to profitability. Adjusted EBITDA turned positive year over year, but the insurance recovery contributed to the result. Trailing EPS and profit margin remain negative. Investors will want to see whether operating performance can keep improving without one-off recoveries. Western also completed the sale of its Stillwater Forest operation shortly before reporting and entered a long-term fibre supply agreement, according to supplemental coverage.
C$1.9 million
That was Western’s adjusted EBITDA for the quarter, compared with a C$65.9 million loss a year earlier. The C$7.7 million insurance recovery helped the result, so the year-over-year improvement doesn’t prove that underlying profitability has recovered.
Bull case
Western beat EPS estimates in three of its last four reported quarters, and adjusted EBITDA improved sharply from the year-ago loss. The completed Stillwater transaction and long-term fibre supply agreement could also change the company’s operating position, though the available information doesn’t show how they might affect future earnings.
Bear case
Western still reported a quarterly loss, with EPS of -C$1.30. Trailing EPS was -C$8, and its profit margin was -3.26%. The consensus estimate for next quarter is also negative, at -C$1.09 from one analyst, down from -C$0.98 over the past 30 days. With only one analyst’s forecast, it’s hard to draw firm conclusions about expectations.
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