Trade, market prices impact Weyerhaeuser Q3
Forest products giant Weyerhaeuser reported third quarter 2018 net earnings of $255 million, nearly doubling net earnings of $130 million in the third quarter 2017.
But the Seattle, Wa.-based company also reported net sales of $1.91 billion, up just 2% from net sales of $1.87 billion for the same period a year ago.
"In the third quarter, our business delivered solid operating performance despite significant headwinds from severe weather, trade policy and unusually volatile wood products markets," said Doyle Simons, president and CEO of Weyerhaeuser.
"Going forward, we remain relentlessly focused on driving value for shareholders through industry-leading performance and disciplined capital allocation," Simmons added.
Weyerhaeuser’s wood products segment posted sales of $1.34 billion for the quarter, nearly a 4% gain compared to segment sales of $1.29 billion in the corresponding period last year.
But the Seattle, Wa.-based company also reported net sales of $1.91 billion, up just 2% from net sales of $1.87 billion for the same period a year ago.
"In the third quarter, our business delivered solid operating performance despite significant headwinds from severe weather, trade policy and unusually volatile wood products markets," said Doyle Simons, president and CEO of Weyerhaeuser.
"Going forward, we remain relentlessly focused on driving value for shareholders through industry-leading performance and disciplined capital allocation," Simmons added.
Weyerhaeuser’s wood products segment posted sales of $1.34 billion for the quarter, nearly a 4% gain compared to segment sales of $1.29 billion in the corresponding period last year.