Weyerhaeuser Company – WY – Increased quarterly dividend by 13 percent to 17 cents per share
Weyerhaeuser Company (NYSE: WY) reported net earnings of $117 million, or 22 cents per diluted share, for the third quarter. This compares with net earnings of $157 million, or 29 cents per diluted share, and net earnings before special items of $66 million, or 12 cents per diluted share, for the same period last year. Net sales for the third quarter of 2012 totaled $1.8 billion, compared with net sales from continuing operations of $1.6 billion for the third quarter of 2011.
“This month the Board of Directors increased our quarterly dividend by 13 percent to 17 cents per share,” said Dan Fulton, president and chief executive officer. “As our third quarter performance indicates, the operational improvements within our businesses are demonstrating clear results, and we are capitalizing on an improving housing market to the benefit of our shareholders.”
TIMBERLANDS
3Q 2012 Performance – The segment’s earnings improved $3 million compared with the second quarter. Earnings from disposition of non-strategic timberlands increased $18 million. This was mostly offset by lower domestic selling prices for Western logs, and reduced export log realizations due to mix. Western fee harvest volumes declined slightly, and road costs increased seasonally. In the South, average selling prices for logs improved slightly compared with the second quarter, and fee harvest volumes were slightly higher.
WOOD PRODUCTS
3Q 2012 Performance – The segment’s earnings before special items improved $29 million compared with the second quarter due to strong markets and effective execution of performance improvement initiatives. Sales realizations were higher across nearly all product lines, most significantly in oriented strand board, which increased 25 percent. Sales volumes for engineered wood products increased, and volumes for lumber and oriented strand board declined slightly.
CELLULOSE FIBERS
3Q 2012 Performance – The segment’s earnings improved $42 million compared with the second quarter due to significantly lower maintenance costs, increased production and strong operating performance. Average pulp prices were flat. The segment completed one scheduled annual maintenance outage in the third quarter, compared with two in the second quarter.
REAL ESTATE
3Q 2012 Performance – The segment’s earnings improved $2 million. Third quarter included earnings of $17 million from single-family homebuilding, compared with $3 million from single family homebuilding and $12 million from sale of land and lots in the second quarter. Home closings increased seasonally to 615 single-family homes, and average margins on homes closed were substantially higher due to mix.
About Weyerhaeuser – WY
Weyerhaeuser Company (WY), one of the world’s largest forest products companies, began operations in 1900. WY grows and harvest trees, build homes and make a range of forest products essential to everyday lives. WY manages timberland on a sustainable basis in compliance with internationally recognized forestry standards. At the end of 2011, WY employed approximately 12,800 employees in 11 countries.
More Posts by this author
- Merck & Co Q3 Earnings Beat Estimates (MRK)
- Gold Prices End Marginally Lower
- Stocks End on a Mixed Note; Finish Lower for the Week
- Gold Prices Settle Marginally Lower; Silver Prices also Slip
- Stocks Headed for a Higher Finish
- Stocks in Red in Mid-Day Trading
- XPO Logistics – XPO – Acquires OHL’s Turbo Logistics
 |
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
|
