Loading price data...
Scrap Monster
Olympus-ims.com
Vulcan
Spectro
Paper Recycling February 05, 2018 02:30:47 PM

Weyerhaeuser Reported Robust Financial and Operational Performance in 2017

Paul Ploumis
ScrapMonster Author
The company’s net earnings before special items stood at $234 million as against $106 million for the similar quarter in 2016.
Weyerhaeuser Reported Robust Financial and Operational Performance in 2017

SEATTLE (Scrap Monster): Weyerhaeuser Company has reported its earnings for the fourth quarter and for the full year 2017. The company reported significant improvement in financial and operational performance during the year, in comparison with 2016. Further, Weyerhaeuser expects the strong performance to continue during the first quarter of 2018.

The Q4 ’17 net earnings totaled $271 million on net sales of $1.8 billion. The earnings jumped multifold when compared with the net earnings of $62 million during the corresponding quarter in 2016. The company reported notable jump of nearly 13% in net sales during the fourth quarter. The net sales had totaled only $1.6 billion during Q4 ’16. The full year net earnings surged higher from $415 million in 2016 to $582 million.

The company’s net earnings before special items stood at $234 million as against $106 million for the similar quarter in 2016. For the full year 2017, the company reported $872 million net earnings before special items, as compared with net earnings from continuing operations of $534 million for the full year 2016.

Doyle R. Simons, president and chief executive officer, Weyerhaeuser Company noted that 2017 was a year of robust growth for the company-both operationally as well as financially. The adjusted EBITDA surged by over 30%. The wood products segment alone contributed to nearly half of the total EBITDA. The company reported significant progress in its optimization efforts through divestment of its Uruguay operations and exit from the Twin Creeks joint venture. Moreover, the sale of nearly 100,000 acres of Southern timberland resulted in collective proceeds of approximately $700 million.

ALSO READ: Unifi Declares First Ever 'Champions of Sustainability' Awards

In the South, seasonally higher volumes sent fee harvest to new heights. Favorable weather conditions also contributed to increased fee harvest. The fee harvest volumes remained robust in the West too. Meantime, average sales realizations remained flat upon comparison with the previous quarter. When compared with the prior quarter, the average realizations for domestic and export logs reported marginal improvement in Q4 ’17.

Weyerhaeuser foresees its earnings and adjusted EBITDA to remain more or less at the same levels during Q1 2018. Also, it expects the fee harvest volumes to remain subdued in the West and South during first quarter this year.

RELATED NEWS:  Lumber Prices to Hit New Record Levels in 2018

SM Newsletter
Subscribe to SM mailing list and get updates to your inbox