Strong Q3 performance for Weyerhaeuser
After closing on the sale of its liquid packaging business and while continuing to integrate its Plum Creek Timber Company acquisition, Weyerhaeuser posted strong a strong third-quarter financial performance.
The company reported sales and earnings growth of 26% each.
"Our employees delivered strong results in the quarter as Timberlands drove improved performance through merger synergies and Wood Products reported its best third quarter in over a decade," said Doyle R. Simons, president and CEO. "We also completed our $2 billion accelerated share repurchase and closed the sale of our liquid packaging business. We remain committed to driving value for shareholders through a focused portfolio, industry leading performance, and disciplined capital allocation. The integration with Plum Creek continues to go very well and we are confident we will fully capture the cost and operational synergies from the merger."
The company’s net sales jumped to $1.7 billion in the quarter, up from $1.4 billion in the same quarter last year. Net earnings increased to $227 million, from $180 million.
In 2015, Weyerhaeuser and Plum Creek, on a combined basis, generated approximately $8.5 billion in net sales and employed nearly 14,000 people who serve customers worldwide. The company’s merged Feb. 19, 2016.
