Weyerhaeuser releases Q2 results
21 August 2014Forest products giant Weyerhaeuser managed a 28% increase in earnings from its operational activities, but a small increase in sales during the second quarter failed to impress investors.
Excluding special items, Weyerhaeuser earned US$234m, which exceeded analyst predictions, up from US$183m a year ago. However, sales rose only 5% to US$1.9bn when excluding discontinued operations, falling short of analysts expectations of US$2.27m.
"Severe winter weather earlier this year dampened the start of the spring building season," said Weyerhaeuser ceo Doyle Simons.
Sales from Timberlands were up 5% from the first three months at US$397m with earnings 3% higher at US$170m. Wood products were up 20% at US$1bn with earnings 60% higher at US$102m.
