West Fraser expects 2026 lumber, North American OSB shipments at lower end of guidance
WFG•West Fraser expects 2026 SPF and SYP lumber shipments and North American OSB shipments near the lower ends of their guidance ranges. Capital spending is expected to be $300 million–$350 million, while third-quarter adjusted EBITDA fell to $38 million from $59 million in the second quarter.
1. Shipment outlook
West Fraser expects 2026 SPF and SYP lumber shipments at the lower end of guidance of 2,400–2,700 million board feet each. North American OSB shipments are also expected near the bottom of the unchanged 5,900–6,300 million square feet guidance range.
2. Spending and earnings
Capital spending guidance remains $300 million–$350 million, down from $411 million in 2025 as major projects conclude. Third-quarter adjusted EBITDA fell to $38 million from $59 million in the second quarter, primarily reflecting lower realized prices. The company said demand remains challenged, with U.S. housing starts at 1,220,000 and mortgage rates above 7%.
