Weyerhaeuser Company Reported Net Earnings of $748M in 2018

SEATTLE (Scrap Monster): Weyerhaeuser Company reported operating and financial results for the fourth quarter and full year 2018.

The company reported net earnings of $748 million or 99 cents per diluted share in 2018. This compares with the net earnings of $582 million for the full year 2017. The 2018 net sales totaled $7.5 billion, marginally higher when compared with $7.2 billion during 2017. The net earnings before special items totaled $891 million as compared with $872 million in 2017. The full year 2018 adjusted EBITDA just exceeded $2 billion.

Weyerhaeuser reported net loss of $93 million in the fourth quarter of 2018, when compared to net earnings of $271 million during the corresponding quarter in 2017. The net sales too reported year-on-year decline from $1.8 billion to $1.6 billion in Q4 ’18. The net earnings before special items dropped from $234 million in Q4 ’17 to $70 million during the fourth quarter last year.

The higher sales volume across domestic and export markets partially offset lower log sales realizations in the West during Q4 ’18. The Timberlands segment earnings and adjusted EBITDA are likely to decline in Q1 of 2019.

The average sales realizations for lumber and OSB declined sharply by 21% in Q4 ’18 over the prior quarter. The wood products segment is likely to witness significantly higher earnings and adjusted EBITDA during the first quarter of the current year.

Devin W. Stockfish, president and chief executive officer noted that the company returned nearly $1.4 billion to shareholders through dividends and share repurchases in 2018. The strong U.S. economic fundamentals coupled with continued growth in U.S. housing is likely to help the company deliver strong operating and financial results in 2019, he added.