Weyerhaeuser Reports Q3 Net Earnings of $482M

Weyerhaeuser Company recently reported third quarter net earnings of $482 million or 64 cents per diluted share on net sales of $2.3 billion. This compares with net earnings of $283 million or 38 cents per diluted share on net sales of $2.1 billion for the same period last year.

Excluding an after-tax benefit of $32 million for special items related to a gain on the sale of timberlands, the company reported third quarter net earnings of $450 million or 60 cents per diluted share. This compares with net earnings before special items of $386 million for the same period last year and $1 billion for the second quarter of 2021. Adjusted EBITDA for the third quarter of 2021 was $746 million compared with $745 million for the same period last year and $1.6 billion for the second quarter of 2021.

“In the third quarter, we delivered strong results across each of our businesses despite weather-related operational disruptions, continued supply chain challenges and the ongoing pandemic,” said Devin W. Stockfish, president and chief executive officer. “Year to date, we have generated more than $3.4 billion of adjusted EBITDA and $2.4 billion of adjusted funds available for distribution. We expect this record cashflow generation to result in a significant supplemental dividend payment to shareholders in the first quarter of 2022. We are bullish on the underlying demand fundamentals for U.S. housing and growth opportunities for our businesses.”