Weyerhaeuser Company reported 2Q 2019 net earnings of $128 million, or 17 cents per diluted share, on net sales of $1.7 billion. This compares with net earnings of $317 million, or 42 cents per diluted share, on net sales of $2.1 billion for the same period last year.

Adjusted EBITDA for the 2Q 2019 was $343 million compared with $637million for the same period last year and $365 million for the 1Q2019.

“Our businesses delivered strong operating performance in the 2Q despite various market and weather-related challenges,” said Devin W. Stockfish, president and CEO. “This includes the lowest controllable lumber manufacturing cost we have ever reported. Looking forward, although record-setting rainfall has held back U.S. housing activity in the first half of 2019, we see solid underlying market conditions and continue to expect the housing market will follow a modest growth trajectory. We remain committed to delivering industry-leading performance, fully capitalizing on all market conditions, and driving superior value for shareholders.”

Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900.

Photo: Devin W. Stockfish, Weyerhaeuser President and CEO.