Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



Despite Difficult Weather Weyerhaeuser Company Tops Expectations

Weyerhaeuser Company (NYSE: WY  ) reported its first-quarter earnings today, and it saw its net earnings increase 27% from $144 million to $183 million, or $0.31 per diluted share.

The company noted it recognized $30 million in after-tax gains from one-time special items, and excluding those, its earnings per share stood at $0.26, identical to what it reported in the first quarter of 2013. This topped the $0.24 earnings per share expected by analysts.  

Weyerhaeuser, a real estate investment trust, is one of the world's largest private owners of timberlands. It owns or controls nearly 7 million acres of timberlands, primarily in the U.S., and manages another 14 million acres under long-term licenses in Canada.

Q1 sales at Weyerhaeuser rose by almost 2%, or $33 million, to $2.0 billion when compared to the first quarter of 2013. However sales fell by 12%, or $272 million, from the fourth quarter as a result of a $240 million drop in sales from its real estate business unit. The company noted it expects earnings from its real estate business to increase in the second quarter as a result of higher single-family home construction.

Despite lower sales, the wood products business at Weyerhaeuser -- its largest -- saw its pre-tax earnings increase 10% to $64 million. The company noted it expects significantly higher earnings from the business in the second quarter as a result of higher sales volumes and higher prices. It also expects higher profits from its Cellulose Fibers business -- which saw earnings fall from $65 million in the fourth quarter to $54 million in the first quarter -- to rise significantly in the second quarter.

"Despite unusually severe winter weather, we delivered strong operating results in the quarter," noted Weyerhaeuser CEO and President Doyle Simons in the earnings release. "Our Timberlands business is realizing increasing benefits from the Longview Timber acquisition and reported its highest quarterly earnings excluding land sales since 2006. We are relentlessly focused on driving operational excellence in each of our businesses to grow a truly great company."

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2930192, ~/Articles/ArticleHandler.aspx, 9/5/2015 1:54:36 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Patrick Morris

After a few stints in banking and corporate finance, Patrick joined the Motley Fool as a writer covering the financial sector. He's scaled back his everyday writing a bit, but he's always happy to opine on the latest headline news surrounding Berkshire Hathaway, Warren Buffett and all things personal finance.

Today's Market

updated 4 hours ago Sponsored by:
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASD 4,683.92 -49.58 -1.05%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/4/2015 4:02 PM
WY $27.37 Down -0.53 -1.90%
Weyerhaeuser Compa… CAPS Rating: ****