Weyerhaeuser Company reported 2Q 2018 net earnings of $317 million, or 42 cents per diluted share, on net sales of $2.1 billion. This compares with earnings of $24 million, or 3 cents per diluted share, on net sales of $1.8 billion for the same period last year.
Excluding net after-tax special charges of $15 million, the company reported net earnings of $332 million, or 44 cents per diluted share for the 2Q. This compares with net earnings before special items of $212 million for the same period last year and $275 million for the 1Q 2018.
Adjusted EBITDA for the 2Q 2018 was $637 million compared with $506 million for the 2Q of last year and $544 million for the 1Q 2018.
“I am very pleased with our 2Q financial results, as each of our businesses delivered solid operational performance and capitalized on market conditions to drive strong year-over-year improvement, including the highest Wood Products EBITDA on record,” said Doyle R. Simons, president and CEO. “In addition, we delivered Weyerhaeuser’s highest EBITDA since 2006, when the company’s operations were nearly three times larger than they are today. Looking forward, housing market fundamentals remain strong, and we remain relentlessly focused on driving operational excellence and fully capitalizing on market conditions to drive value for shareholders.”
Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900.
Photo: Doyle R. Simons, Weyerhaeuser president and CEO.