Logs are piled up at West Fraser Timber Co. Ltd. in Quesnel, B.C. Photo by Jonathan Hayward/The Canadian Press files

Shares of West Fraser Timber Co. Ltd. dipped Thursday after the Vancouver-based company posted a third-quarter net loss of US$204 million, or US$2.63 per diluted share, as the forestry sector continues to navigate what its chief executive called an “extended cycle trough.”

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to a loss of US$144 million in the third quarter, down from US$62 million a year earlier.

On a call with analysts, West Fraser chief executive Sean McLaren said mortgage and interest rates continue to weigh on U.S. housing demand and affordability, along with “uninspiring” levels of new home construction sout

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