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Lumber

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.”

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Devin Stockfish

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

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