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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Weyerhaeuser Company | NYSE:WY | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.81 | 2.68% | 31.01 | 31.03 | 30.10 | 30.50 | 4,710,526 | 01:00:00 |
From May 2019 to May 2024
By Lauren Pollock
Weyerhaeuser Co. said its second-quarter earnings dropped 51%, hurt by the delayed arrival of the spring selling season and the strong U.S. dollar.
Earnings easily beat estimates, but revenue declined slightly more than expected.
The Washington state-based company is one of the world's largest private owners of timberlands.
Its earnings slipped to $144 million, or 26 cents a share, from $291 million, or 48 cents a share, a year earlier. Sales declined to $1.81 billion from $1.96 billion.
Analysts polled by Thomson Reuters had guided for earnings of 20 cents a share and revenue of $1.82 billion.
In the timberlands segment, sales dropped sequentially, and the company forecast another decline in the current quarter thanks to lower fee harvest volumes. The wood products segment, meanwhile, posted higher sequential sales and is expected to continue growing in the current quarter.
Write to Lauren Pollock at lauren.pollock@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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