Weyerhaeuser sees results in the first quarter

Weyerhaeuser Company had positive results to report during the first quarter, which reflected the impact of its merger with Plum Creek in February 2016, among other favorable conditions.

Net sales of $1.7 billion were up 21.4% over the year-ago quarter's 1.4 billion, and net earnings of $157 million were up substantially from $61 million last year.

Net earnings before special items (excluding an after-tax special item of $10 million) was $167 million for the quarter, compared to $126 million last year.

"I am very pleased with our first quarter performance, as our employees capitalized on operational excellence improvements, merger-related synergies and strengthening market conditions to deliver outstanding results," said Doyle Simons, president and chief executive officer. "In addition, we achieved our increased $125 million run-rate merger cost synergy target. Looking forward, we remain relentlessly focused on leveraging merger synergies and operational improvements to drive industry leading performance and superior value for our shareholders."

Weyerhaeuser merged with Plum Creek Timber Company, Inc. on February 19, 2016. Its current quarterly earnings include Plum Creek financial results from February 19, 2016 forward.

Additionally, results for its sold Cellulose Fibers segment are counted as discontinued operations.