Weyerhaeuser Recorded Dip in Profits During Fourth Quarter 2024
Paper Recycling | 2025-02-03 21:37:04
The company struggled with higher forestry and road costs in its timberlands unit due to wet weather conditions.
By Paul Ploumis
SEATTLE (Scrap Monster): Weyerhaeuser Company announced results for fourth quarter and full year 2024.
Adjusted EBITDA for Q4 2024 was $294 million, down from $321 million in Q4 2023; net sales decreased year-over-year from $1.8 billion to $1.7 billion; and the company reported fourth quarter net earnings of $81 million, or 11 cents per diluted share, compared with net earnings of $219 million, or 30 cents per diluted share, during the same quarter a year before.
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With net sales of $7.1 billion for the entire year 2024, the corporation reported net earnings of $396 million, or 54 cents per diluted share. This contrasts with the full-year 2023 net profitability of $839 million on net sales of $7.7 billion. From $1.7 billion to $1.3 billion, the adjusted EBITDA fell precipitously.
Wet weather caused the corporation to suffer with increased forestry and road expenditures in its timberlands unit. At $126 million, the timberlands segment's adjusted core earnings decreased by almost 12%.
Devin W. Stockfish, president and CEO, commented on the results, saying that the 2024 performance shows good execution in the face of a difficult market environment. He went on to say that the company has a solid balance sheet and is in a good position to profit when the market conditions improve.
