Apr 29, 201111:58 AMBlog

Weyerhaeuser's earnings dip, still ahead of last year

Apr 29, 2011 - 11:58 AM
Weyerhaeuser Company reported today net earnings of $99 million for the first quarter, or 18 cents per diluted share, on net sales of $1.6 billion. This is a decrease when compared to the net earnings of $171 million reported in the fourth quarter of 2010.

However, first quarter's numbers are up when compared to a year earlier when the company announced it had a net loss of $20 million on net sales of $1.4 billion.
Earnings for the first quarter of 2011 include an after-tax gain of $96 million on the previously announced sale of 82,000 acres of non-strategic timberlands in southwest Washington. Excluding this special item, the company reported net earnings of $3 million. This compares to a net loss before special items of $15 million in the first quarter of 2010.

First quarter earnings before special items increased $33 million compared with fourth quarter, as strong export demand resulted in improved selling prices and volumes for western logs. Fee harvest volumes increased, resulting in lower per unit logging costs. However, these improvements were partially offset by higher fuel costs.


Edit Module
Bookmark and Share Email this page Email Print this page Print Feed Feed
Edit Module

About This Blog

Follow our blog for all the latest in local business news. To get the top local business news, subscribe to Daily Biz Briefs email newsletter. As a reader of this FREE email you get breaking business news each business day afternoon delivered right to your email inbox.



Atom Feed Subscribe to the Blog Feed »

Recent Posts