Weyerhaeuser Announced Robust First Quarter Results

SEATTLE (Scrap Monster): Weyerhaeuser Company reported first quarter net earnings of $771 million, or $1.03 per diluted share. This compares with net earnings of $681 million, or 91 cents per diluted share for the same period last year and net earnings of $416 million in the sequential quarter.

The company posted net sales of $3.1 billion as compared with net sales of $2.5 billion for the same period last year. The adjusted EBITDA for the first quarter of 2022 was $1.5 billion compared with $1.1 billion for the same period last year and $674 million for the fourth quarter of 2021.

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Weyerhaeuser expects second quarter earnings before special items and Adjusted EBITDA from Timberlands segment to be significantly lower than the first quarter. The Wood Products segment second quarter earnings and Adjusted EBITDA will be higher than the first quarter.

Commenting on the results, Devin W. Stockfish, president and chief executive officer, Weyerhaeuser said that the company is extremely proud of its first quarter results. The company made meaningful progress towards its multi-year growth targets with the signing of the first carbon capture and storage agreement. Looking forward, the company expects that demand fundamentals will drive further business growth, he added.