Weyerhaeuser Posted Strong Results Across Businesses

SEATTLE (Scrap Monster): Weyerhaeuser Comapny announced results for the second quarter of the current year.

The company reported second quarter net earnings of $788 million, or $1.06 per diluted share, compared with net earnings of $1.0 billion, or $1.37 per diluted share for the same period last year. The net sales recorded marginal decline from $3.1 billion to $3.0 billion over the previous year. The adjusted EBITDA or the second quarter of 2022 was $1.2 billion compared with $1.6 billion for the corresponding quarter in 2021.

In Timberlands segment, the unseasonably wet weather resulted in moderately lower fee harvest volumes in the West, compared with the prior quarter. The domestic sales realizations were moderately lower, whereas the export sales realizations were moderately higher. The robust demand from Japan resulted in significantly higher export sales volume.

The wood products segment saw its sales realizations for lumber and oriented strand board decrease by 25% and 14% respectively, upon comparison with the first quarter averages. Meantime, the sales volumes for lumber were significantly higher.

Devin W. Stockfish, president and chief executive officer noted that the teams delivered strong results across each of its businesses. Looking forward, the company expects long-term demand fundamentals to support its businesses. Weyerhaeuser has exceptionally strong financial position, he added.

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