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Rubber and Wood May 04, 2021 09:30:35 PM

Weyerhaeuser Company Declared Robust Results in Q1 2021

Paul Ploumis
ScrapMonster Author
This is the highest on record and significantly higher by 68% compared with fourth quarter 2020.

Weyerhaeuser Company Declared Robust Results in Q1 2021

SEATTLE (Scrap Monster): Weyerhaeuser Company reported first quarter net earnings of $681 million, or 91 cents per diluted share. This compares with net earnings of $150 million, or 20 cents per diluted share in Q1 2020. The net sales surged higher from $1.7 billion to $2.5 billion over the year.

The adjusted EBITDA for the first quarter of 2021 was $1.1 billion, upon comparison with $413 million for the same period last year and $657 million for the fourth quarter of 2020. This is the highest on record and significantly higher by 68% compared with fourth quarter 2020.

The company surpassed its previous record for adjusted EBITDA by Wood Products segment by more than 50%. Also, it announced strategic acquisition to enhance its Alabama timberland holdings.

Weyerhaeuser expects robust momentum in new residential construction activity during the remainder of 2021. The repair and remodel demand too is expected to remain extremely favourable.

ALSO READ: Weyerhaeuser Ranked as the Topmost U.S. Lumber Producer

Commenting on the results, Devin W. Stockfish, president and chief executive officer noted that the company is extremely pleased with the results, even in the midst of severe winter weather and supply chain disruptions. The company remains committed to deliver operational excellence across its asset portfolio and enhance shareholder value through disciplined capital allocation, he added.

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