Weyerhaeuser reports Q1 loss
Forest products giant Weyerhaeuser reported a net loss of $289 million for the first quarter 2019.
First quarter earnings included after-tax charges of $369 million for special items, including a pension settlement. The Seattle, Wa.-based company said it would have reported a net income of $84 million, excluding the charges. Weyerhaeuser reported a net income of $269 million in the first quarter 2018.
Weyerhaeuser reported net sales of $1.64 billion for the quarter, down nearly 12% from first quarter 2018 net sales of $1.86 billion.
Wood product sales were nearly flat during the quarter rising less than 1% to $1.094 billion from sales $1.087 billion during the same period last year.
First quarter earnings included after-tax charges of $369 million for special items, including a pension settlement. The Seattle, Wa.-based company said it would have reported a net income of $84 million, excluding the charges. Weyerhaeuser reported a net income of $269 million in the first quarter 2018.
Weyerhaeuser reported net sales of $1.64 billion for the quarter, down nearly 12% from first quarter 2018 net sales of $1.86 billion.
Wood product sales were nearly flat during the quarter rising less than 1% to $1.094 billion from sales $1.087 billion during the same period last year.