LBM Advantage, a leading cooperative in the lumber and building materials industry, is excited to announce the appointment of Daniel Bricker, Justin Smith, Keith Gritters, and David Merryman to new managerial roles within the company. These strategic transitions are set to enhance operational efficiency and support Advantage’s growth initiatives. Forest Products Manager Daniel Bricker, New […]
West Fraser Announces Second Quarter 2024 Results
West Fraser Timber Co. Ltd. (“West Fraser” or the “Company”) reported the second quarter results of 2024 (“Q2-24”). All dollar amounts in this news release are expressed in U.S. dollars unless noted otherwise. Second Quarter Highlights? “Once again our North American OSB, plywood and other engineered wood products demonstrated strong results and the value of our […]
Freddie Mac: Mortgage Rates Show Little Movement
Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.78 percent. “Mortgage rates essentially remained flat from last week but have decreased nearly half a percent from their peak earlier this year,” said Sam Khater, Freddie Mac’s Chief Economist. “Despite these lower rates, buyers continue to pause, […]
Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 2.2 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Applications Survey for the week ending July 19, 2024. The Market Composite Index, a measure of mortgage loan application volume, decreased 2.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the […]
Allegion Reports Q2-2024 Financial Results
Strong execution drives second-quarter performance; Company raises full-year outlook Allegion plc, a leading global security products and solutions provider, reported financial results for its second quarter (ended June 30, 2024). Quarterly Financial Highlights (All comparisons against the second quarter of 2023, unless otherwise noted) Full-Year Outlook Highlights “Strong execution by the entire Allegion team drove […]
Wabash Announces Second Quarter 2024 Results
Quarterly revenue of $551 million; within prior quarterly outlook range Operating income of $44 million with operating margin of 7.9% Quarterly diluted earnings per share of $0.64 exceeds prior quarterly outlook range Total backlog of $1.3B; Q2 sequential reduction slightly more than usual seasonality 2024 revenue and EPS outlook ranges reduced to $2.0B – $2.2B and $1.50 – $1.60, respectively Wabash, the innovation […]
International Paper Reports Second Quarter 2024 Results
International Paper reported second quarter 2024 financial results. Second Quarter 2024 Highlights “Reflecting on my first 90 days, I am confident in our teams’ ability to unlock substantial value at IP,” said Andy Silvernail, Chief Executive Officer. “While our second quarter financial results increased sequentially on better price and seasonally higher volumes, we expect near-term […]
U.S. Census Bureau: Monthly New Residential Sales, June 2024
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for June 2024: New Home Sales Sales of new single-family houses in June 2024 were at a seasonally adjusted annual rate of 617,000, according to estimates released jointly today by the U.S. Census Bureau […]
Statistics Canada: New Housing Price Index, June 2024
New home buyers saw prices decline in June The national index decreased by 0.2% in June as compared with May. Prices were down in 10 of the 27 census metropolitan areas (CMAs) surveyed in June and unchanged in 12, while prices rose in the remaining 5 CMAs. Builders offering incentives to encourage sales The largest month-over-month declines were reported in Victoria (-1.3%), Vancouver […]
Trex Launches New Trex Signature® X-Series™ Railing
Cable and Glass Railing Options Enhance Style and Specification X-ponentially When it comes to deck railings, cable and glass are among the hottest styles with today’s homeowners but also among the most difficult to specify –until now. Trex Company, the world’s largest manufacturer of high-performance, low-maintenance composite decking and railing, and a leading brand of outdoor […]