Weyerhaeuser posts Q2 gains
Weyerhaeuser reported a strong second quarter that included the company’s highest ever wood products EBITDA.
Second quarter net earnings were $317 million, up from $24 million a year ago. Net sales increased from $1.8 billion to $2.1 billion.
"I am very pleased with our second quarter financial results, as each of our businesses delivered solid operational performance and capitalized on market conditions to drive strong year-over-year improvement,” said CEO Doyle Simmons.
In the wood products division, average sales realizations for lumber and oriented strand board improved significantly compared with the first quarter, and engineered wood products realizations increased modestly. Sales volumes rose seasonally for all product lines. These factors were partially offset by higher log, raw material and transportation costs.
As previously disclosed, sales volumes for oriented strand board will be lower in the third quarter due to an extended outage at our Grayling, Michigan mill for a scheduled press replacement.
“Looking forward, housing market fundamentals remain strong, and we remain relentlessly focused on driving operational excellence and fully capitalizing on market conditions to drive value for shareholders,” said Simmons.
Second quarter net earnings were $317 million, up from $24 million a year ago. Net sales increased from $1.8 billion to $2.1 billion.
"I am very pleased with our second quarter financial results, as each of our businesses delivered solid operational performance and capitalized on market conditions to drive strong year-over-year improvement,” said CEO Doyle Simmons.
In the wood products division, average sales realizations for lumber and oriented strand board improved significantly compared with the first quarter, and engineered wood products realizations increased modestly. Sales volumes rose seasonally for all product lines. These factors were partially offset by higher log, raw material and transportation costs.
As previously disclosed, sales volumes for oriented strand board will be lower in the third quarter due to an extended outage at our Grayling, Michigan mill for a scheduled press replacement.
“Looking forward, housing market fundamentals remain strong, and we remain relentlessly focused on driving operational excellence and fully capitalizing on market conditions to drive value for shareholders,” said Simmons.