Weyerhaeuser Q2 net earnings increased to $157Staff Writer | August 5, 2016
Weyerhaeuser Co., a private owners of timberlands, reported that its second quarter net earnings to common shareholders increased to $157 million from last year's $133 million.
Weyerhaeuser Earnings per share declined to $0.21
Net earnings from continuing operations was $130 million or $0.17 per share for the second quarter. Last year's adjusted earnings from continuing operations was $114 million or $0.22 per share.
Weyerhaeuser's net sales increased to $1.66 billion from $1.35 billion last year.
Doyle Simons, president and CEO said, "Our businesses delivered solid second quarter operating results, with Wood Products capitalizing on improving markets and ongoing operational excellence initiatives to report its strongest quarter in over a decade...
"Going forward, we remain relentlessly focused on successfully integrating Plum Creek, and fully capturing cost and operational synergies to drive superior value for our shareholders."
Looking ahead, Weyerhaeuser anticipates slightly lower earnings and Adjusted EBITDA from the Timberlands segment in the third quarter, and significantly higher earnings and Adjusted EBITDA from the Wood Products segment. ■