SEATTLE (Scrap Monster): Weyerhaeuser Company announced fourth quarter and full year 2022 results.
The company reported fourth quarter net earnings of $11 million, or 2 cents per diluted share. This compares with net earnings of $416 million, or 55 cents per diluted share for the corresponding quarter a year before. The net sales recorded a decline from $2.2 billion to $1.8 billion year-on-year. The adjusted Q4 2022 EBITDA was $369 million, compared with $674 million a year before.
For the full year 2022, the company reported net earnings of $1.9 billion, or $2.53 per diluted share. This compares with $2.6 billion in 2021. The net sales stood unchanged at $10.2 billion over the year. The adjusted EBITDA witnessed a decline from $4.1 billion in 2021 to $3.7 billion in 2022.
Also, the company declared a supplemental dividend of $0.09 per share.
Commenting on the outlook, the company expects the earnings and adjusted EBITDA from wood products segment in first quarter 2023 to be moderately higher than Q4 last year. It expects higher lumber sales volume, lower log costs and significantly lower unit manufacturing costs.
Devin W. Stockfish, president and chief executive officer, Weyerhaeuser noted that the accomplishments by the company during entire year 2022 is a reflection of strong execution across all business segments.
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