A banner year for Weyerhaeuser

Weyerhaeuser reported fourth quarter net sales increased nearly 5% to $2.2 billion compared to fourth quarter 2020 sales of $2.1 billion.

Weyerhaeuser reported that sales for lumber increased by 15% compared with the third quarter average, which was more than offset by a 29% decrease for oriented strand board. Sales volumes were also significantly lower than the third quarter for lumber and slightly lower for oriented strand board, largely due to weather-related transportation challenges in Canada. 

For the full year, the Seattle-based company posted net sales of $10.2 billion, increasing 36% compared to sales of $7.5 billion in the prior year.

Fourth quarter net earnings reached $416 million, jumping 42.5% from fourth quarter 2020 net earnings of $292 million.

Net earnings for the full year soared 226% to $2.6 billion from net earnings of $797 million in the prior year.

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The Bottom Line: Profits jump more than 42% in the fourth quarter to $416 million.

What the CEO said: "Our 2021 financial performance was the strongest on record and each of our businesses delivered exceptional results despite persistent operational and market challenges," said Devin Stockfish, president and CEO. "Our teams delivered the highest Wood Products Adjusted EBITDA on record, captured over $70 million of operational excellence improvements, optimized our timberlands holdings through strategic transactions in Alabama and Washington, and launched our new Natural Climate Solutions business.”

Company info: Click here to read Weyerhaeuser’s full fourth quarter financial report.