- Achieved net earnings of $310
million, or $0.42 per diluted
share
- Generated $583 million of
Adjusted EBITDA
- Repurchased $404 million of
common shares year to date, through the third quarter
SEATTLE, Oct. 27,
2022 /PRNewswire/ -- Weyerhaeuser Company (NYSE:
WY) today reported third quarter net earnings of $310 million,
or 42 cents per diluted share, on net sales of $2.3 billion. This compares with net earnings of
$482 million, or 64 cents per
diluted share, on net sales of $2.3
billion for the same period last year and net earnings of
$788 million for the second quarter
of 2022. There were no special items in third quarter or second
quarter 2022. Net earnings before special items was $450 million for the same period last year.
View our earnings release and financial statements in
a printer-friendly PDF.
Adjusted EBITDA for the third quarter of 2022 was $583 million compared with $746 million for the same period last year
and $1.2 billion for the second
quarter of 2022.
"In the third quarter, we delivered solid results across our
businesses, despite increasing macroeconomic headwinds," said Devin
W. Stockfish, president and chief executive officer. "Although
near-term market conditions have moderated, we maintain a
constructive longer-term outlook for the demand fundamentals that
support our businesses. Looking ahead, our balance sheet is
exceptionally strong, and we are well positioned to navigate
through a range of market conditions. We remain focused on serving
our customers and driving long-term value for our shareholders
through an unmatched portfolio of assets, industry-leading
performance and disciplined capital allocation."
WEYERHAEUSER
FINANCIAL HIGHLIGHTS
|
|
2022
|
|
2022
|
|
2021
|
(millions, except
per share data)
|
|
Q2
|
|
Q3
|
|
Q3
|
Net sales
|
|
$2,973
|
|
$2,276
|
|
$2,345
|
Net earnings
|
|
$788
|
|
$310
|
|
$482
|
Net earnings per
diluted share
|
|
$1.06
|
|
$0.42
|
|
$0.64
|
Weighted average shares
outstanding, diluted
|
|
746
|
|
741
|
|
751
|
Net earnings before
special items(1)(2)
|
|
$788
|
|
$310
|
|
$450
|
Net earnings per
diluted share before special items(1)
|
|
$1.06
|
|
$0.42
|
|
$0.60
|
Adjusted
EBITDA(1)
|
|
$1,205
|
|
$583
|
|
$746
|
Net cash from
operations
|
|
$1,146
|
|
$562
|
|
$659
|
Adjusted
FAD(3)
|
|
$1,065
|
|
$468
|
|
$561
|
|
|
(1)
|
Net earnings before
special items is a non-GAAP measure that management believes
provides helpful context in understanding the company's earnings
performance. Additionally, Adjusted EBITDA is a non-GAAP measure
that management uses to evaluate the performance of the company.
Adjusted EBITDA, as we define it, is operating income adjusted for
depreciation, depletion, amortization, basis of real estate sold
and special items. Net earnings before special items and Adjusted
EBITDA should not be considered in isolation from, and are not
intended to represent an alternative to, our GAAP results.
Reconciliations of net earnings before special items and Adjusted
EBITDA to GAAP earnings are included within this
release.
|
(2)
|
Special items for prior
periods presented are included in the reconciliation tables within
this release.
|
(3)
|
Adjusted Funds
Available for Distribution (Adjusted FAD) is a non-GAAP measure
that management uses to evaluate the company's liquidity. Adjusted
FAD, as we define it, is net cash from operations adjusted for
capital expenditures and significant non-recurring items. Adjusted
FAD measures cash generated during the period (net of capital
expenditures and significant non-recurring items) that is available
for dividends, repurchases of common shares, debt reduction,
acquisitions, and other discretionary and nondiscretionary capital
allocation activities. Adjusted FAD should not be considered in
isolation from, and is not intended to represent an alternative to,
our GAAP results. A reconciliation of Adjusted FAD to net cash from
operations is included within this release.
|
TIMBERLANDS
FINANCIAL
HIGHLIGHTS
|
|
2022
|
|
2022
|
|
|
(millions)
|
|
Q2
|
|
Q3
|
|
Change
|
Net sales
|
|
$671
|
|
$574
|
|
$(97)
|
Net contribution to
pretax earnings
|
|
$153
|
|
$107
|
|
$(46)
|
Adjusted
EBITDA
|
|
$219
|
|
$168
|
|
$(51)
|
Q3 2022 Performance – In the West, fee harvest volumes
and domestic sales volumes were lower than the second quarter due
to the work stoppage that commenced in mid-September, impacting a
portion of our operations in the region. Domestic sales
realizations were comparable and per unit log and haul costs were
lower. Export sales realizations and volumes were significantly
lower due to softening demand, and volumes were further affected by
a reduction in export activity resulting from the work stoppage. In
the South, fee harvest volumes, sales realizations, and per unit
log and haul costs were all comparable to the second quarter.
Forestry and road costs in the West and South were seasonally
higher.
Q4 2022 Outlook – Weyerhaeuser anticipates fourth
quarter earnings and Adjusted EBITDA will be significantly lower
than third quarter 2022. In the West, the company expects lower fee
harvest and sales volumes resulting from the work stoppage. Sales
realizations are expected to be significantly lower due to
softening demand. The company expects lower per unit log and haul
costs and significantly lower forestry and road costs. In the
South, fee harvest volumes and forestry and road costs are expected
to be slightly higher, and per unit log and haul costs and sales
realizations are expected to be comparable.
REAL ESTATE, ENERGY & NATURAL RESOURCES
FINANCIAL
HIGHLIGHTS
|
|
2022
|
|
2022
|
|
|
(millions)
|
|
Q2
|
|
Q3
|
|
Change
|
Net sales
|
|
$117
|
|
$68
|
|
$(49)
|
Net contribution to
pretax earnings
|
|
$65
|
|
$48
|
|
$(17)
|
Adjusted
EBITDA
|
|
$107
|
|
$60
|
|
$(47)
|
Q3 2022 Performance – Earnings and Adjusted EBITDA
decreased from the second quarter due to lower real estate sales,
partially offset by an increase in royalty income from our Energy
and Natural Resources business. The number of real estate acres
sold decreased significantly due to the timing of transactions,
partially offset by an increase in the average price per acre due
to the mix of properties sold.
Q4 2022 Outlook – Weyerhaeuser anticipates fourth quarter
earnings and Adjusted EBITDA will be lower than third quarter 2022
due to the timing and mix of real estate sales, as well as lower
royalty income from our Energy and Natural Resources business. The
company still expects full year 2022 Adjusted EBITDA of
approximately $325 million and now
expects basis as a percentage of real estate sales to be 35 to 40
percent for the full year.
WOOD PRODUCTS
FINANCIAL
HIGHLIGHTS
|
|
2022
|
|
2022
|
|
|
(millions)
|
|
Q2
|
|
Q3
|
|
Change
|
Net sales
|
|
$2,341
|
|
$1,767
|
|
$(574)
|
Net contribution to
pretax earnings
|
|
$863
|
|
$344
|
|
$(519)
|
Adjusted
EBITDA
|
|
$912
|
|
$395
|
|
$(517)
|
Q3 2022 Performance – Sales realizations for lumber and
oriented strand board decreased 28 percent and 41 percent,
respectively, compared with second quarter averages. Sales and
production volumes for lumber were moderately lower, largely due to
the work stoppage at our mills in Washington and Oregon that commenced in mid-September. Unit
manufacturing costs were higher, and log costs were moderately
lower. Sales and production volumes for oriented strand board were
slightly lower due to downtime for planned annual maintenance and
transportation challenges in Canada. Unit manufacturing costs were higher,
and fiber costs were comparable. Sales realizations were higher for
most engineered wood products, while sales and production volumes
were lower for most products due to downtime for planned annual
maintenance, transportation challenges in Canada and labor constraints. Unit
manufacturing costs for engineered wood products were higher, and
raw material costs were significantly lower, primarily for oriented
strand board webstock.
Q4 2022 Outlook – Weyerhaeuser anticipates fourth
quarter earnings and Adjusted EBITDA will be lower than third
quarter 2022, excluding the effect of changes in average sales
realizations for lumber and oriented strand board. For lumber, the
company expects significantly lower log costs, partially offset by
lower sales volumes resulting from the work stoppage at our mills
in Washington and Oregon. For oriented strand board, the company
anticipates slightly higher sales volumes, comparable fiber costs,
and significantly lower unit manufacturing costs due to less
downtime for planned annual maintenance. Sales volumes and
realizations are expected to be lower for most engineered wood
products, partially offset by significantly lower raw material
costs, primarily for oriented strand board webstock. For
distribution, the company expects lower sales volumes and
realizations for most products.
ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the world's largest private owners
of timberlands, began operations in 1900. We own or control
approximately 11 million acres of timberlands in the U.S. and
manage additional timberlands under long-term licenses in
Canada. We manage these
timberlands on a sustainable basis in compliance with
internationally recognized forestry standards. We are also one of
the largest manufacturers of wood products in North America. Our company is a real estate
investment trust. In 2021, we generated $10.2 billion in net sales and employed
approximately 9,200 people who serve customers worldwide. Our
common stock trades on the New York Stock Exchange under the symbol
WY. Learn more at www.weyerhaeuser.com.
EARNINGS CALL INFORMATION
Weyerhaeuser will hold a live conference call at 7 a.m. Pacific (10
a.m. Eastern) on October 28,
2022 to discuss third quarter results.
To access the live webcast and presentation online, go to the
Investor Relations section on www.weyerhaeuser.com on
October 28, 2022.
To join the conference call from within North America, dial 1-877-407-0792 (access
code: 13724916) at least 15 minutes prior to the call. Those
calling from outside North America
should dial 201-689-8263 (access code: 13724916). Replays will be
available for two weeks at 1-844-512-2921 (access code: 13724916)
from within North America, and at
1-412-317-6671 (access code: 13724916) from outside North America.
FORWARD-LOOKING STATEMENTS
This news release contains statements concerning the company's
future results and performance that are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, including, but not limited to, with respect to our outlook
and expectations concerning the following: earnings and Adjusted
EBITDA for the company and for each of our businesses; fee harvest
and sales volumes and sales realizations for our Timberlands
business; log and haul, forestry and road costs and expenses; basis
for real estate acres to be sold; sales volumes for our lumber
business; sales volumes and unit manufacturing costs for our
oriented strand board business; sales realizations and sales
volumes for our engineered wood products business; log and raw
materials costs for each of our Wood Products lines; sales volumes
and sales realizations for our Distribution business; long-term
demand fundamentals affecting our businesses; and our future
performance through changing market conditions. Forward-looking
statements can be identified by the fact that they do not relate
strictly to historical or current facts. They often involve use of
words and expressions such as "anticipate," "expect," "looking
ahead," "planned," "will," and similar words and expressions. They
may use the positive, negative or another variation of those and
similar words and expressions. These forward-looking statements are
based on our current expectations and assumptions and are not
guarantees of future events or performance. The realization of our
expectations and the accuracy of our assumptions are subject to a
number of risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. These risks and uncertainties include, but are not
limited to:
- the effect of general economic conditions, including employment
rates, interest rate levels, inflation, housing starts, general
availability and cost of financing for home mortgages and the
relative strength of the U.S. dollar;
- the effect of COVID-19 and other viral or disease outbreaks and
their potential effects on our business, results of operations,
cash flows, financial condition and future prospects;
- market demand for the company's products, including market
demand for our timberland properties with higher and better uses,
which is related to, among other factors, the strength of the
various U.S. business segments and U.S. and international economic
conditions;
- changes in currency exchange rates, particularly the relative
value of the U.S. dollar to the Japanese yen, the Chinese yuan, and
the Canadian dollar, and the relative value of the euro to the
yen;
- restrictions on international trade and tariffs imposed on
imports or exports;
- the availability and cost of shipping and transportation;
- economic activity in Asia,
especially Japan and China;
- performance of our manufacturing operations, including
maintenance and capital requirements;
- potential disruptions in our manufacturing operations;
- the level of competition from domestic and foreign
producers;
- the successful execution of our internal plans and strategic
initiatives, including restructuring and cost reduction
initiatives;
- our ability to hire and retain capable employees;
- the successful and timely execution and integration of our
strategic acquisitions, including our ability to realize expected
benefits and synergies, and the successful and timely execution of
our strategic divestitures, each of which is subject to a number of
risks and conditions beyond our control including, but not limited
to, timing and required regulatory approvals or the occurrence of
any event, change or other circumstances that could give rise to a
termination of any acquisition or divestiture transaction under the
terms of the governing transaction agreements;
- raw material availability and prices;
- the effect of weather;
- changes in global or regional climate conditions and
governmental response to such changes;
- the risk of loss from fires, floods, windstorms, hurricanes,
pest infestation and other natural disasters;
- energy prices;
- transportation and labor availability and costs;
- federal tax policies;
- the effect of forestry, land use, environmental and other
governmental regulations;
- legal proceedings;
- performance of pension fund investments and related
derivatives;
- the effect of timing of employee retirements as it relates to
the cost of pension benefits and changes in the market price of our
common stock on charges for share-based compensation;
- the accuracy of our estimates of costs and expenses related to
contingent liabilities and the accuracy of our estimates of charges
related to casualty losses;
- changes in accounting principles; and
- other risks and uncertainties identified in our 2021 Annual
Report on Form 10-K, as well as those set forth from time to time
in our other public statements, reports, registration statements,
prospectuses, information statements and other filings with the
SEC.
It is not possible to predict or identify all risks and
uncertainties that might affect the accuracy of our forward-looking
statements and, consequently, our descriptions of such risks and
uncertainties should not be considered exhaustive. There is no
guarantee that any of the events anticipated by these
forward-looking statements will occur, and if any of the events do
occur, there is no guarantee what effect they will have on the
company's business, results of operations, cash flows, financial
condition and future prospects.
Forward-looking statements speak only as of the date they are
made, and we undertake no obligation to publicly update or revise
any forward-looking statements, whether because of new information,
future events, or otherwise.
RECONCILIATION OF ADJUSTED EBITDA TO NET EARNINGS
We reconcile Adjusted EBITDA to net earnings for the
consolidated company and to operating income (loss) for the
business segments, as those are the most directly comparable U.S.
GAAP measures for each.
The table below reconciles Adjusted EBITDA for the quarter ended
June 30, 2022:
(millions)
|
|
Timberlands
|
|
Real Estate
& ENR
|
|
Wood
Products
|
|
Unallocated
Items
|
|
Total
|
Adjusted EBITDA by
Segment:
|
|
|
|
|
|
|
|
|
|
|
Net
earnings
|
|
|
|
|
|
|
|
|
|
$788
|
Interest expense, net
of capitalized interest
|
|
|
|
|
|
|
|
|
|
65
|
Income
taxes
|
|
|
|
|
|
|
|
|
|
184
|
Net contribution
(charge) to earnings
|
|
$153
|
|
$65
|
|
$863
|
|
$(44)
|
|
$1,037
|
Non-operating pension
and other post-employment
benefit costs
|
|
—
|
|
—
|
|
—
|
|
11
|
|
11
|
Interest income and
other
|
|
—
|
|
—
|
|
—
|
|
(1)
|
|
(1)
|
Operating income
(loss)
|
|
153
|
|
65
|
|
863
|
|
(34)
|
|
1,047
|
Depreciation,
depletion and amortization
|
|
66
|
|
3
|
|
49
|
|
1
|
|
119
|
Basis of real estate
sold
|
|
—
|
|
39
|
|
—
|
|
—
|
|
39
|
Adjusted
EBITDA
|
|
$219
|
|
$107
|
|
$912
|
|
$(33)
|
|
$1,205
|
The table below reconciles Adjusted EBITDA for the quarter ended
September 30, 2022:
(millions)
|
|
Timberlands
|
|
Real Estate
& ENR
|
|
Wood
Products
|
|
Unallocated
Items
|
|
Total
|
Adjusted EBITDA by
Segment:
|
|
|
|
|
|
|
|
|
|
|
Net
earnings
|
|
|
|
|
|
|
|
|
|
$310
|
Interest expense, net
of capitalized interest
|
|
|
|
|
|
|
|
|
|
67
|
Income
taxes
|
|
|
|
|
|
|
|
|
|
77
|
Net contribution
(charge) to earnings
|
|
$107
|
|
$48
|
|
$344
|
|
$(45)
|
|
$454
|
Non-operating pension
and other post-employment
benefit costs
|
|
—
|
|
—
|
|
—
|
|
12
|
|
12
|
Interest income and
other
|
|
—
|
|
—
|
|
—
|
|
(9)
|
|
(9)
|
Operating income
(loss)
|
|
107
|
|
48
|
|
344
|
|
(42)
|
|
457
|
Depreciation,
depletion and amortization
|
|
61
|
|
5
|
|
51
|
|
2
|
|
119
|
Basis of real estate
sold
|
|
—
|
|
7
|
|
—
|
|
—
|
|
7
|
Adjusted
EBITDA
|
|
$168
|
|
$60
|
|
$395
|
|
$(40)
|
|
$583
|
The table below reconciles Adjusted EBITDA for the quarter ended
September 30, 2021:
(millions)
|
|
Timberlands
|
|
Real Estate
& ENR
|
|
Wood
Products
|
|
Unallocated
Items
|
|
Total
|
Adjusted EBITDA by
Segment:
|
|
|
|
|
|
|
|
|
|
|
Net
earnings
|
|
|
|
|
|
|
|
|
|
$482
|
Interest expense, net
of capitalized interest
|
|
|
|
|
|
|
|
|
|
79
|
Income
taxes
|
|
|
|
|
|
|
|
|
|
84
|
Net contribution
(charge) to earnings
|
|
$133
|
|
$45
|
|
$517
|
|
$(50)
|
|
$645
|
Non-operating pension
and other post-employment
benefit costs
|
|
—
|
|
—
|
|
—
|
|
5
|
|
5
|
Interest income and
other
|
|
—
|
|
—
|
|
—
|
|
(1)
|
|
(1)
|
Operating income
(loss)
|
|
133
|
|
45
|
|
517
|
|
(46)
|
|
649
|
Depreciation,
depletion and amortization
|
|
64
|
|
4
|
|
48
|
|
2
|
|
118
|
Basis of real estate
sold
|
|
—
|
|
11
|
|
—
|
|
—
|
|
11
|
Special items included
in operating income (loss)(1)
|
|
(32)
|
|
—
|
|
—
|
|
—
|
|
(32)
|
Adjusted
EBITDA
|
|
$165
|
|
$60
|
|
$565
|
|
$(44)
|
|
$746
|
|
|
(1)
|
Operating income (loss)
includes a pretax special item consisting of a $32 million gain on
the sale of timberlands.
|
The table below reconciles Adjusted EBITDA for the year-to-date
period ended September 30, 2022:
(millions)
|
|
Timberlands
|
|
Real Estate
& ENR
|
|
Wood
Products
|
|
Unallocated
Items
|
|
Total
|
Adjusted EBITDA by
Segment:
|
|
|
|
|
|
|
|
|
|
|
Net
earnings
|
|
|
|
|
|
|
|
|
|
$1,869
|
Interest expense, net
of capitalized interest
|
|
|
|
|
|
|
|
|
|
204
|
Loss on debt
extinguishment(1)
|
|
|
|
|
|
|
|
|
|
276
|
Income
taxes
|
|
|
|
|
|
|
|
|
|
470
|
Net contribution
(charge) to earnings
|
|
$442
|
|
$194
|
|
$2,389
|
|
$(206)
|
|
$2,819
|
Non-operating pension
and other post-employment
benefit costs
|
|
—
|
|
—
|
|
—
|
|
38
|
|
38
|
Interest income and
other
|
|
—
|
|
—
|
|
—
|
|
(9)
|
|
(9)
|
Operating income
(loss)
|
|
442
|
|
194
|
|
2,389
|
|
(177)
|
|
2,848
|
Depreciation,
depletion and amortization
|
|
192
|
|
12
|
|
151
|
|
5
|
|
360
|
Basis of real estate
sold
|
|
—
|
|
77
|
|
—
|
|
—
|
|
77
|
Adjusted
EBITDA
|
|
$634
|
|
$283
|
|
$2,540
|
|
$(172)
|
|
$3,285
|
|
|
(1)
|
Loss on debt
extinguishment is a pretax special item related to the early
extinguishment of $931 million of debt.
|
RECONCILIATION OF NET EARNINGS BEFORE SPECIAL ITEMS TO NET
EARNINGS
We reconcile net earnings before special items to net earnings
and net earnings per diluted share before special items to net
earnings per diluted share, as those are the most directly
comparable U.S. GAAP measures. We believe the measures provide
meaningful supplemental information for investors about our
operating performance, better facilitate period to period
comparisons and are widely used by analysts, lenders, rating
agencies and other interested parties.
The table below reconciles net earnings before special items to
net earnings:
|
|
2022
|
|
2022
|
|
2021
|
(millions)
|
|
Q2
|
|
Q3
|
|
Q3
|
Net
earnings
|
|
$788
|
|
$310
|
|
$482
|
Gain on sale of
timberlands
|
|
—
|
|
—
|
|
(32)
|
Net earnings before
special items
|
|
$788
|
|
$310
|
|
$450
|
The table below reconciles net earnings per diluted share before
special items to net earnings per diluted share:
|
|
2022
|
|
2022
|
|
2021
|
|
|
Q2
|
|
Q3
|
|
Q3
|
Net earnings per
diluted share
|
|
$1.06
|
|
$0.42
|
|
$0.64
|
Gain on sale of
timberlands
|
|
—
|
|
—
|
|
(0.04)
|
Net earnings per
diluted share before special items
|
|
$1.06
|
|
$0.42
|
|
$0.60
|
RECONCILIATION OF ADJUSTED FAD TO NET CASH FROM
OPERATIONS
We reconcile Adjusted FAD to net cash from operations, as that
is the most directly comparable U.S. GAAP measure. We believe the
measure provides meaningful supplemental information for investors
about our liquidity.
The table below reconciles Adjusted FAD to net cash from
operations:
|
|
2022
|
|
2022
|
|
2021
|
|
2022
|
(millions)
|
|
Q2
|
|
Q3
|
|
Q3
|
|
Q3
YTD
|
Net cash from
operations
|
|
$1,146
|
|
$562
|
|
$659
|
|
$2,665
|
Capital
expenditures
|
|
(81)
|
|
(94)
|
|
(98)
|
|
(245)
|
Adjustments to
FAD(1)
|
|
—
|
|
—
|
|
—
|
|
(37)
|
Adjusted
FAD
|
|
$1,065
|
|
$468
|
|
$561
|
|
$2,383
|
|
|
(1)
|
Adjustments to FAD
include a $37 million product remediation insurance recovery
received in first quarter 2022.
|
Weyerhaeuser
Company
|
Exhibit
99.2
|
|
Q3.2022 Analyst
Package
Preliminary results (unaudited)
|
Consolidated
Statement of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Q1
|
|
|
Q2
|
|
|
Q3
|
|
|
Year-to-Date
|
|
in millions
|
|
March 31,
2022
|
|
|
June 30,
2022
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
Net
sales
|
|
$
|
3,112
|
|
|
$
|
2,973
|
|
|
$
|
2,276
|
|
|
$
|
2,345
|
|
|
$
|
8,361
|
|
|
$
|
7,995
|
|
Costs of
sales
|
|
|
1,647
|
|
|
|
1,789
|
|
|
|
1,694
|
|
|
|
1,589
|
|
|
|
5,130
|
|
|
|
4,602
|
|
Gross
margin
|
|
|
1,465
|
|
|
|
1,184
|
|
|
|
582
|
|
|
|
756
|
|
|
|
3,231
|
|
|
|
3,393
|
|
Selling
expenses
|
|
|
23
|
|
|
|
23
|
|
|
|
24
|
|
|
|
24
|
|
|
|
70
|
|
|
|
68
|
|
General and
administrative expenses
|
|
|
92
|
|
|
|
102
|
|
|
|
100
|
|
|
|
98
|
|
|
|
294
|
|
|
|
283
|
|
Other operating costs
(income), net
|
|
|
6
|
|
|
|
12
|
|
|
|
1
|
|
|
|
(15)
|
|
|
|
19
|
|
|
|
8
|
|
Operating
income
|
|
|
1,344
|
|
|
|
1,047
|
|
|
|
457
|
|
|
|
649
|
|
|
|
2,848
|
|
|
|
3,034
|
|
Non-operating pension
and other post-employment benefit costs
|
|
|
(15)
|
|
|
|
(11)
|
|
|
|
(12)
|
|
|
|
(5)
|
|
|
|
(38)
|
|
|
|
(14)
|
|
Interest income and
other
|
|
|
(1)
|
|
|
|
1
|
|
|
|
9
|
|
|
|
1
|
|
|
|
9
|
|
|
|
4
|
|
Interest expense, net
of capitalized interest
|
|
|
(72)
|
|
|
|
(65)
|
|
|
|
(67)
|
|
|
|
(79)
|
|
|
|
(204)
|
|
|
|
(236)
|
|
Loss on debt
extinguishment
|
|
|
(276)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(276)
|
|
|
|
—
|
|
Earnings before income
taxes
|
|
|
980
|
|
|
|
972
|
|
|
|
387
|
|
|
|
566
|
|
|
|
2,339
|
|
|
|
2,788
|
|
Income taxes
|
|
|
(209)
|
|
|
|
(184)
|
|
|
|
(77)
|
|
|
|
(84)
|
|
|
|
(470)
|
|
|
|
(597)
|
|
Net
earnings
|
|
$
|
771
|
|
|
$
|
788
|
|
|
$
|
310
|
|
|
$
|
482
|
|
|
$
|
1,869
|
|
|
$
|
2,191
|
|
Per Share
Information
|
|
|
Q1
|
|
|
Q2
|
|
|
Q3
|
|
|
Year-to-Date
|
|
|
|
March 31,
2022
|
|
|
June 30,
2022
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
Earnings per share,
basic and diluted
|
|
$
|
1.03
|
|
|
$
|
1.06
|
|
|
$
|
0.42
|
|
|
$
|
0.64
|
|
|
$
|
2.51
|
|
|
$
|
2.92
|
|
Dividends paid per
common share
|
|
$
|
1.63
|
|
|
$
|
0.18
|
|
|
$
|
0.18
|
|
|
$
|
0.17
|
|
|
$
|
1.99
|
|
|
$
|
0.51
|
|
Weighted average shares
outstanding (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
|
747,507
|
|
|
|
744,542
|
|
|
|
740,058
|
|
|
|
750,105
|
|
|
|
743,990
|
|
|
|
749,657
|
|
Diluted
|
|
|
748,823
|
|
|
|
745,582
|
|
|
|
740,975
|
|
|
|
751,443
|
|
|
|
745,081
|
|
|
|
750,999
|
|
Common shares
outstanding at end of period (in thousands)
|
|
|
745,442
|
|
|
|
741,738
|
|
|
|
737,547
|
|
|
|
749,037
|
|
|
|
737,547
|
|
|
|
749,037
|
|
Adjusted Earnings
before Interest, Tax, Depreciation, Depletion and Amortization
(Adjusted EBITDA)
|
|
|
|
Q1
|
|
|
Q2
|
|
|
Q3
|
|
|
Year-to-Date
|
|
in millions
|
|
March 31,
2022
|
|
|
June 30,
2022
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
Net
earnings
|
|
$
|
771
|
|
|
$
|
788
|
|
|
$
|
310
|
|
|
$
|
482
|
|
|
$
|
1,869
|
|
|
$
|
2,191
|
|
Non-operating pension
and other post-employment benefit costs
|
|
|
15
|
|
|
|
11
|
|
|
|
12
|
|
|
|
5
|
|
|
|
38
|
|
|
|
14
|
|
Interest income and
other
|
|
|
1
|
|
|
|
(1)
|
|
|
|
(9)
|
|
|
|
(1)
|
|
|
|
(9)
|
|
|
|
(4)
|
|
Interest expense, net
of capitalized interest
|
|
|
72
|
|
|
|
65
|
|
|
|
67
|
|
|
|
79
|
|
|
|
204
|
|
|
|
236
|
|
Loss on debt
extinguishment
|
|
|
276
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
276
|
|
|
|
—
|
|
Income taxes
|
|
|
209
|
|
|
|
184
|
|
|
|
77
|
|
|
|
84
|
|
|
|
470
|
|
|
|
597
|
|
Operating
income
|
|
|
1,344
|
|
|
|
1,047
|
|
|
|
457
|
|
|
|
649
|
|
|
|
2,848
|
|
|
|
3,034
|
|
Depreciation, depletion
and amortization
|
|
|
122
|
|
|
|
119
|
|
|
|
119
|
|
|
|
118
|
|
|
|
360
|
|
|
|
356
|
|
Basis of real estate
sold
|
|
|
31
|
|
|
|
39
|
|
|
|
7
|
|
|
|
11
|
|
|
|
77
|
|
|
|
62
|
|
Special items included
in operating income
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(32)
|
|
|
|
—
|
|
|
|
(32)
|
|
Adjusted
EBITDA(1)
|
|
$
|
1,497
|
|
|
$
|
1,205
|
|
|
$
|
583
|
|
|
$
|
746
|
|
|
$
|
3,285
|
|
|
$
|
3,420
|
|
|
|
(1)
|
Adjusted EBITDA is a
non-GAAP measure that management uses to evaluate the performance
of the company. Adjusted EBITDA, as we define it, is operating
income adjusted for depreciation, depletion, amortization, basis of
real estate sold and special items. Our definition of Adjusted
EBITDA may be different from similarly titled measures reported by
other companies. Adjusted EBITDA should not be considered in
isolation from, and is not intended to represent an alternative to,
our GAAP results.
|
Weyerhaeuser
Company
Total Company Statistics
|
Q3.2022 Analyst
Package
Preliminary results (unaudited)
|
|
Special Items
Included in Net Earnings (Income Tax Affected)
|
|
|
|
Q1
|
|
|
Q2
|
|
|
Q3
|
|
|
Year-to-Date
|
|
in millions
|
|
March 31,
2022
|
|
|
June 30,
2022
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
Net
earnings
|
|
$
|
771
|
|
|
$
|
788
|
|
|
$
|
310
|
|
|
$
|
482
|
|
|
$
|
1,869
|
|
|
$
|
2,191
|
|
Gain on sale of
timberlands
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(32)
|
|
|
|
—
|
|
|
|
(32)
|
|
Loss on debt
extinguishment(1)
|
|
|
207
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
207
|
|
|
|
—
|
|
Net earnings before
special items(2)
|
|
$
|
978
|
|
|
$
|
788
|
|
|
$
|
310
|
|
|
$
|
450
|
|
|
$
|
2,076
|
|
|
$
|
2,159
|
|
|
|
Q1
|
|
|
Q2
|
|
|
Q3
|
|
|
Year-to-Date
|
|
|
|
March 31,
2022
|
|
|
June 30,
2022
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
Net earnings per
diluted share
|
|
$
|
1.03
|
|
|
$
|
1.06
|
|
|
$
|
0.42
|
|
|
$
|
0.64
|
|
|
$
|
2.51
|
|
|
$
|
2.92
|
|
Gain on sale of
timberlands
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(0.04)
|
|
|
|
—
|
|
|
|
(0.04)
|
|
Loss on debt
extinguishment(1)
|
|
|
0.28
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
0.28
|
|
|
|
—
|
|
Net earnings per
diluted share before special items(2)
|
|
$
|
1.31
|
|
|
$
|
1.06
|
|
|
$
|
0.42
|
|
|
$
|
0.60
|
|
|
$
|
2.79
|
|
|
$
|
2.88
|
|
|
|
(1)
|
We recorded a
total pretax loss on debt extinguishment of $276 million ($207
million after-tax) in first quarter 2022.
|
(2)
|
Net earnings
before special items is a non-GAAP measure that management believes
provides helpful context in understanding the company's earnings
performance. Net earnings before special items should not be
considered in isolation from, and is not intended to represent an
alternative to, our GAAP results.
|
Selected Total
Company Items
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Q1
|
|
|
Q2
|
|
|
Q3
|
|
|
Year-to-Date
|
|
in millions
|
|
March 31,
2022
|
|
|
June 30,
2022
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
Pension and
post-employment costs:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pension and
post-employment service costs
|
|
$
|
10
|
|
|
$
|
8
|
|
|
$
|
9
|
|
|
$
|
11
|
|
|
$
|
27
|
|
|
$
|
32
|
|
Non-operating pension
and other post-employment benefit costs
|
|
|
15
|
|
|
|
11
|
|
|
|
12
|
|
|
|
5
|
|
|
|
38
|
|
|
|
14
|
|
Total company
pension and post-employment costs
|
|
$
|
25
|
|
|
$
|
19
|
|
|
$
|
21
|
|
|
$
|
16
|
|
|
$
|
65
|
|
|
$
|
46
|
|
Weyerhaeuser
Company
Q3.2022 Analyst Package
Preliminary results (unaudited)
|
|
Consolidated Balance
Sheet
|
|
in millions
|
|
March
31,
2022
|
|
|
June
30,
2022
|
|
|
September
30,
2022
|
|
|
December
31,
2021
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
1,205
|
|
|
$
|
1,723
|
|
|
$
|
1,920
|
|
|
$
|
1,879
|
|
Receivables,
net
|
|
|
745
|
|
|
|
547
|
|
|
|
425
|
|
|
|
507
|
|
Receivables for
taxes
|
|
|
8
|
|
|
|
6
|
|
|
|
15
|
|
|
|
24
|
|
Inventories
|
|
|
611
|
|
|
|
571
|
|
|
|
542
|
|
|
|
520
|
|
Prepaid expenses and
other current assets
|
|
|
206
|
|
|
|
165
|
|
|
|
146
|
|
|
|
205
|
|
Total current
assets
|
|
|
2,775
|
|
|
|
3,012
|
|
|
|
3,048
|
|
|
|
3,135
|
|
Property and
equipment, net
|
|
|
2,026
|
|
|
|
2,000
|
|
|
|
1,997
|
|
|
|
2,057
|
|
Construction in
progress
|
|
|
203
|
|
|
|
233
|
|
|
|
245
|
|
|
|
175
|
|
Timber and timberlands
at cost, less depletion
|
|
|
11,469
|
|
|
|
11,706
|
|
|
|
11,681
|
|
|
|
11,510
|
|
Minerals and mineral
rights, less depletion
|
|
|
252
|
|
|
|
248
|
|
|
|
245
|
|
|
|
255
|
|
Deferred tax
assets
|
|
|
15
|
|
|
|
11
|
|
|
|
10
|
|
|
|
17
|
|
Other
assets
|
|
|
376
|
|
|
|
370
|
|
|
|
364
|
|
|
|
503
|
|
Total
assets
|
|
$
|
17,116
|
|
|
$
|
17,580
|
|
|
$
|
17,590
|
|
|
$
|
17,652
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current maturities of
long-term debt
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
118
|
|
|
$
|
—
|
|
Accounts
payable
|
|
|
310
|
|
|
|
283
|
|
|
|
272
|
|
|
|
281
|
|
Accrued
liabilities
|
|
|
674
|
|
|
|
658
|
|
|
|
664
|
|
|
|
673
|
|
Total current
liabilities
|
|
|
984
|
|
|
|
941
|
|
|
|
1,054
|
|
|
|
954
|
|
Long-term debt,
net
|
|
|
5,053
|
|
|
|
5,053
|
|
|
|
4,935
|
|
|
|
5,099
|
|
Deferred tax
liabilities
|
|
|
66
|
|
|
|
83
|
|
|
|
89
|
|
|
|
46
|
|
Deferred pension and
other post-employment benefits
|
|
|
432
|
|
|
|
347
|
|
|
|
335
|
|
|
|
440
|
|
Other
liabilities
|
|
|
344
|
|
|
|
340
|
|
|
|
339
|
|
|
|
346
|
|
Total
liabilities
|
|
|
6,879
|
|
|
|
6,764
|
|
|
|
6,752
|
|
|
|
6,885
|
|
Total
equity
|
|
|
10,237
|
|
|
|
10,816
|
|
|
|
10,838
|
|
|
|
10,767
|
|
Total liabilities
and equity
|
|
$
|
17,116
|
|
|
$
|
17,580
|
|
|
$
|
17,590
|
|
|
$
|
17,652
|
|
Weyerhaeuser
Company
Q3.2022 Analyst
Package
Preliminary results
(unaudited)
|
|
Consolidated
Statement of Cash Flows
|
|
|
|
Q1
|
|
|
Q2
|
|
|
Q3
|
|
|
Year-to-Date
|
|
in millions
|
|
March 31,
2022
|
|
|
June 30,
2022
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
|
Sept
30,
2022
|
|
|
Sept
30,
2021
|
|
Cash flows from
operations:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
earnings
|
|
$
|
771
|
|
|
$
|
788
|
|
|
$
|
310
|
|
|
$
|
482
|
|
|
$
|
1,869
|
|
|
$
|
2,191
|
|
Noncash charges
(credits) to earnings:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation,
depletion and amortization
|
|
|
122
|
|
|
|
119
|
|
|
|
119
|
|
|
|
118
|
|
|
|
360
|
|
|
|
356
|
|
Basis of real estate
sold
|
|
|
31
|
|
|
|
39
|
|
|
|
7
|
|
|
|
11
|
|
|
|
77
|
|
|
|
62
|
|
Deferred income taxes,
net
|
|
|
14
|
|
|
|
—
|
|
|
|
3
|
|
|
|
(3)
|
|
|
|
17
|
|
|
|
16
|
|
Pension and other
post-employment benefits
|
|
|
25
|
|
|
|
19
|
|
|
|
21
|
|
|
|
16
|
|
|
|
65
|
|
|
|
46
|
|
Share-based
compensation expense
|
|
|
8
|
|
|
|
9
|
|
|
|
8
|
|
|
|
8
|
|
|
|
25
|
|
|
|
23
|
|
Gain on sale of
timberlands
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(32)
|
|
|
|
—
|
|
|
|
(32)
|
|
Loss on debt
extinguishment
|
|
|
276
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
276
|
|
|
|
—
|
|
Change in:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Receivables,
net
|
|
|
(238)
|
|
|
|
198
|
|
|
|
121
|
|
|
|
205
|
|
|
|
81
|
|
|
|
(47)
|
|
Receivables and
payables for taxes
|
|
|
110
|
|
|
|
(83)
|
|
|
|
(12)
|
|
|
|
(143)
|
|
|
|
15
|
|
|
|
93
|
|
Inventories
|
|
|
(87)
|
|
|
|
29
|
|
|
|
28
|
|
|
|
(4)
|
|
|
|
(30)
|
|
|
|
(55)
|
|
Prepaid expenses and
other current assets
|
|
|
(1)
|
|
|
|
(2)
|
|
|
|
(4)
|
|
|
|
(20)
|
|
|
|
(7)
|
|
|
|
(21)
|
|
Accounts payable and
accrued liabilities
|
|
|
(62)
|
|
|
|
47
|
|
|
|
(8)
|
|
|
|
51
|
|
|
|
(23)
|
|
|
|
116
|
|
Pension and
post-employment benefit contributions and payments
|
|
|
(4)
|
|
|
|
(10)
|
|
|
|
(5)
|
|
|
|
(23)
|
|
|
|
(19)
|
|
|
|
(56)
|
|
Other
|
|
|
(8)
|
|
|
|
(7)
|
|
|
|
(26)
|
|
|
|
(7)
|
|
|
|
(41)
|
|
|
|
(27)
|
|
Net cash from
operations
|
|
$
|
957
|
|
|
$
|
1,146
|
|
|
$
|
562
|
|
|
$
|
659
|
|
|
$
|
2,665
|
|
|
$
|
2,665
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
for property and equipment
|
|
$
|
(50)
|
|
|
$
|
(71)
|
|
|
$
|
(86)
|
|
|
$
|
(91)
|
|
|
$
|
(207)
|
|
|
$
|
(184)
|
|
Capital expenditures
for timberlands reforestation
|
|
|
(20)
|
|
|
|
(10)
|
|
|
|
(8)
|
|
|
|
(7)
|
|
|
|
(38)
|
|
|
|
(39)
|
|
Acquisition of
timberlands
|
|
|
(18)
|
|
|
|
(265)
|
|
|
|
(3)
|
|
|
|
—
|
|
|
|
(286)
|
|
|
|
(149)
|
|
Proceeds from sale of
timberlands
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
261
|
|
|
|
—
|
|
|
|
261
|
|
Other
|
|
|
1
|
|
|
|
—
|
|
|
|
—
|
|
|
|
2
|
|
|
|
1
|
|
|
|
3
|
|
Net cash from
investing activities
|
|
$
|
(87)
|
|
|
$
|
(346)
|
|
|
$
|
(97)
|
|
|
$
|
165
|
|
|
$
|
(530)
|
|
|
$
|
(108)
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash dividends on
common shares
|
|
$
|
(1,218)
|
|
|
$
|
(134)
|
|
|
$
|
(133)
|
|
|
$
|
(127)
|
|
|
$
|
(1,485)
|
|
|
$
|
(382)
|
|
Net proceeds from
issuance of long-term debt
|
|
|
881
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
881
|
|
|
|
—
|
|
Payments on long-term
debt
|
|
|
(1,203)
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(1,203)
|
|
|
|
(225)
|
|
Proceeds from exercise
of stock options
|
|
|
12
|
|
|
|
2
|
|
|
|
1
|
|
|
|
1
|
|
|
|
15
|
|
|
|
46
|
|
Repurchases of common
shares
|
|
|
(118)
|
|
|
|
(141)
|
|
|
|
(143)
|
|
|
|
(26)
|
|
|
|
(402)
|
|
|
|
(26)
|
|
Other
|
|
|
(18)
|
|
|
|
(1)
|
|
|
|
(1)
|
|
|
|
(3)
|
|
|
|
(20)
|
|
|
|
(19)
|
|
Net cash from
financing activities
|
|
$
|
(1,664)
|
|
|
$
|
(274)
|
|
|
$
|
(276)
|
|
|
$
|
(155)
|
|
|
$
|
(2,214)
|
|
|
$
|
(606)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net change in cash,
cash equivalents and restricted cash
|
|
$
|
(794)
|
|
|
$
|
526
|
|
|
$
|
189
|
|
|
$
|
669
|
|
|
$
|
(79)
|
|
|
$
|
1,951
|
|
Cash, cash equivalents
and restricted cash at beginning of period
|
|
|
1,999
|
|
|
|
1,205
|
|
|
|
1,731
|
|
|
|
1,777
|
|
|
|
1,999
|
|
|
|
495
|
|
Cash, cash
equivalents and restricted cash at end of period
|
|
$
|
1,205
|
|
|
$
|
1,731
|
|
|
$
|
1,920
|
|
|
$
|
2,446
|
|
|
$
|
1,920
|
|
|
$
|
2,446
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash paid during the
period for:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest, net of
amounts capitalized
|
|
$
|
78
|
|
|
$
|
71
|
|
|
$
|
62
|
|
|
$
|
83
|
|
|
$
|
211
|
|
|
$
|
237
|
|
Income taxes, net of
refunds
|
|
$
|
85
|
|
|
$
|
269
|
|
|
$
|
92
|
|
|
$
|
231
|
|
|
$
|
446
|
|
|
$
|
494
|
|
Weyerhaeuser
Company
|
Timberlands
Segment
|
Q3.2022 Analyst
Package
Preliminary results
(unaudited)
|
|
Segment Statement of
Operations
|
|
|
|
in millions
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Sales to unaffiliated
customers
|
|
$
|
465
|
|
|
$
|
515
|
|
|
$
|
441
|
|
|
$
|
423
|
|
|
$
|
1,421
|
|
|
$
|
1,207
|
|
Intersegment
sales
|
|
|
161
|
|
|
|
156
|
|
|
|
133
|
|
|
|
129
|
|
|
|
450
|
|
|
|
399
|
|
Total net
sales
|
|
|
626
|
|
|
|
671
|
|
|
|
574
|
|
|
|
552
|
|
|
|
1,871
|
|
|
|
1,606
|
|
Costs of
sales
|
|
|
423
|
|
|
|
495
|
|
|
|
442
|
|
|
|
428
|
|
|
|
1,360
|
|
|
|
1,218
|
|
Gross
margin
|
|
|
203
|
|
|
|
176
|
|
|
|
132
|
|
|
|
124
|
|
|
|
511
|
|
|
|
388
|
|
Selling
expenses
|
|
|
—
|
|
|
|
—
|
|
|
|
1
|
|
|
|
1
|
|
|
|
1
|
|
|
|
1
|
|
General and
administrative expenses
|
|
|
24
|
|
|
|
24
|
|
|
|
25
|
|
|
|
23
|
|
|
|
73
|
|
|
|
69
|
|
Other operating income,
net
|
|
|
(3)
|
|
|
|
(1)
|
|
|
|
(1)
|
|
|
|
(33)
|
|
|
|
(5)
|
|
|
|
(36)
|
|
Operating income and
Net contribution to earnings
|
|
$
|
182
|
|
|
$
|
153
|
|
|
$
|
107
|
|
|
$
|
133
|
|
|
$
|
442
|
|
|
$
|
354
|
|
Adjusted Earnings
before Interest, Tax, Depreciation, Depletion and
Amortization(1)
|
|
in millions
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Operating
income
|
|
$
|
182
|
|
|
$
|
153
|
|
|
$
|
107
|
|
|
$
|
133
|
|
|
$
|
442
|
|
|
$
|
354
|
|
Depreciation, depletion
and amortization
|
|
|
65
|
|
|
|
66
|
|
|
|
61
|
|
|
|
64
|
|
|
|
192
|
|
|
|
195
|
|
Special
items
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(32)
|
|
|
|
—
|
|
|
|
(32)
|
|
Adjusted
EBITDA(1)
|
|
$
|
247
|
|
|
$
|
219
|
|
|
$
|
168
|
|
|
$
|
165
|
|
|
$
|
634
|
|
|
$
|
517
|
|
|
|
(1)
|
See definition of
Adjusted EBITDA (a non-GAAP measure) on page 1.
|
Segment Special
Items Included In Net Contribution to Earnings
(Pretax)
|
|
in millions
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Gain on sale of
timberlands
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
32
|
|
|
$
|
—
|
|
|
$
|
32
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selected Segment
Items
|
|
in millions
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Total decrease
(increase) in working capital(2)
|
|
$
|
(34)
|
|
|
$
|
57
|
|
|
$
|
14
|
|
|
$
|
1
|
|
|
$
|
37
|
|
|
$
|
(10)
|
|
Cash spent for capital
expenditures(3)
|
|
$
|
(30)
|
|
|
$
|
(23)
|
|
|
$
|
(22)
|
|
|
$
|
(27)
|
|
|
$
|
(75)
|
|
|
$
|
(76)
|
|
|
|
(2)
|
Represents the change
in prepaid assets, accounts receivable, accounts payable, accrued
liabilities and log inventory for the Timberlands and Real Estate
& ENR segments combined.
|
(3)
|
Does not include cash
spent for the acquisition of timberlands.
|
Segment
Statistics(4)
|
|
|
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Third Party
|
|
Delivered
logs:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Sales
|
|
West
|
$
|
259
|
|
|
$
|
308
|
|
|
$
|
224
|
|
|
$
|
226
|
|
|
$
|
791
|
|
|
$
|
649
|
|
(millions)
|
|
South
|
|
154
|
|
|
|
160
|
|
|
|
166
|
|
|
|
153
|
|
|
|
480
|
|
|
|
429
|
|
|
|
North
|
|
15
|
|
|
|
10
|
|
|
|
15
|
|
|
|
13
|
|
|
|
40
|
|
|
|
38
|
|
|
|
Total delivered
logs
|
|
428
|
|
|
|
478
|
|
|
|
405
|
|
|
|
392
|
|
|
|
1,311
|
|
|
|
1,116
|
|
|
|
Stumpage and pay-as-cut
timber
|
|
9
|
|
|
|
11
|
|
|
|
10
|
|
|
|
9
|
|
|
|
30
|
|
|
|
22
|
|
|
|
Recreational and other
lease revenue
|
|
17
|
|
|
|
16
|
|
|
|
18
|
|
|
|
16
|
|
|
|
51
|
|
|
|
48
|
|
|
|
Other
revenue
|
|
11
|
|
|
|
10
|
|
|
|
8
|
|
|
|
6
|
|
|
|
29
|
|
|
|
21
|
|
|
|
Total
|
$
|
465
|
|
|
$
|
515
|
|
|
$
|
441
|
|
|
$
|
423
|
|
|
$
|
1,421
|
|
|
$
|
1,207
|
|
Delivered
Logs
|
|
West
|
$
|
161.29
|
|
|
$
|
173.35
|
|
|
$
|
158.59
|
|
|
$
|
145.64
|
|
|
$
|
164.97
|
|
|
$
|
138.06
|
|
Third Party
Sales
|
|
South
|
$
|
37.15
|
|
|
$
|
38.47
|
|
|
$
|
38.59
|
|
|
$
|
35.56
|
|
|
$
|
38.08
|
|
|
$
|
35.08
|
|
Realizations (per
ton)
|
|
North
|
$
|
72.79
|
|
|
$
|
83.93
|
|
|
$
|
83.84
|
|
|
$
|
64.93
|
|
|
$
|
79.26
|
|
|
$
|
65.97
|
|
Delivered
Logs
|
|
West
|
|
1,604
|
|
|
|
1,778
|
|
|
|
1,411
|
|
|
|
1,555
|
|
|
|
4,793
|
|
|
|
4,702
|
|
Third Party
Sales
|
|
South
|
|
4,135
|
|
|
|
4,167
|
|
|
|
4,310
|
|
|
|
4,304
|
|
|
|
12,612
|
|
|
|
12,236
|
|
Volumes (tons,
thousands)
|
|
North
|
|
210
|
|
|
|
118
|
|
|
|
177
|
|
|
|
195
|
|
|
|
505
|
|
|
|
571
|
|
Fee Harvest
Volumes
|
|
West
|
|
2,240
|
|
|
|
2,085
|
|
|
|
1,760
|
|
|
|
1,930
|
|
|
|
6,085
|
|
|
|
6,130
|
|
(tons,
thousands)
|
|
South
|
|
5,842
|
|
|
|
6,159
|
|
|
|
6,112
|
|
|
|
5,912
|
|
|
|
18,113
|
|
|
|
17,144
|
|
|
|
North
|
|
278
|
|
|
|
180
|
|
|
|
245
|
|
|
|
264
|
|
|
|
703
|
|
|
|
800
|
|
|
|
(4)
|
Western logs are
primarily transacted in MBF but are converted to ton equivalents
for external reporting purposes.
|
Weyerhaeuser
Company
|
Real Estate,
Energy & Natural Resources Segment
|
Q3.2022
Analyst Package
Preliminary
results (unaudited)
|
Segment Statement of
Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
in millions
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Net
sales
|
|
$
|
128
|
|
|
$
|
117
|
|
|
$
|
68
|
|
|
$
|
69
|
|
|
$
|
313
|
|
|
$
|
285
|
|
Costs of
sales
|
|
|
41
|
|
|
|
45
|
|
|
|
14
|
|
|
|
18
|
|
|
|
100
|
|
|
|
93
|
|
Gross
margin
|
|
|
87
|
|
|
|
72
|
|
|
|
54
|
|
|
|
51
|
|
|
|
213
|
|
|
|
192
|
|
General and
administrative expenses
|
|
|
6
|
|
|
|
7
|
|
|
|
6
|
|
|
|
6
|
|
|
|
19
|
|
|
|
18
|
|
Operating income and
Net contribution to earnings
|
|
$
|
81
|
|
|
$
|
65
|
|
|
$
|
48
|
|
|
$
|
45
|
|
|
$
|
194
|
|
|
$
|
174
|
|
Adjusted Earnings
before Interest, Tax, Depreciation, Depletion and
Amortization(1)
|
|
in millions
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Operating
income
|
|
$
|
81
|
|
|
$
|
65
|
|
|
$
|
48
|
|
|
$
|
45
|
|
|
$
|
194
|
|
|
$
|
174
|
|
Depreciation, depletion
and amortization
|
|
|
4
|
|
|
|
3
|
|
|
|
5
|
|
|
|
4
|
|
|
|
12
|
|
|
|
11
|
|
Basis of real estate
sold
|
|
|
31
|
|
|
|
39
|
|
|
|
7
|
|
|
|
11
|
|
|
|
77
|
|
|
|
62
|
|
Adjusted
EBITDA(1)
|
|
$
|
116
|
|
|
$
|
107
|
|
|
$
|
60
|
|
|
$
|
60
|
|
|
$
|
283
|
|
|
$
|
247
|
|
(1) See
definition of Adjusted EBITDA (a non-GAAP measure) on page
1.
|
Selected Segment
Items
|
|
in millions
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Cash spent for capital
expenditures
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment
Statistics
|
|
|
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Net Sales
|
Real Estate
|
|
$
|
97
|
|
|
$
|
90
|
|
|
$
|
30
|
|
|
$
|
45
|
|
|
$
|
217
|
|
|
$
|
212
|
|
(millions)
|
Energy and Natural
Resources
|
|
|
31
|
|
|
|
27
|
|
|
|
38
|
|
|
|
24
|
|
|
|
96
|
|
|
|
73
|
|
|
Total
|
|
$
|
128
|
|
|
$
|
117
|
|
|
$
|
68
|
|
|
$
|
69
|
|
|
$
|
313
|
|
|
$
|
285
|
|
Acres Sold
|
Real Estate
|
|
|
24,126
|
|
|
|
26,906
|
|
|
|
5,014
|
|
|
|
11,037
|
|
|
|
56,046
|
|
|
|
48,907
|
|
Price per
Acre
|
Real Estate
|
|
$
|
3,785
|
|
|
$
|
3,215
|
|
|
$
|
5,046
|
|
|
$
|
4,005
|
|
|
$
|
3,624
|
|
|
$
|
3,632
|
|
Basis as a Percent
of
Real Estate Net
Sales
|
Real Estate
|
|
|
32
|
%
|
|
|
43
|
%
|
|
|
23
|
%
|
|
|
24
|
%
|
|
|
35
|
%
|
|
|
29
|
%
|
Weyerhaeuser
Company
Wood
Products Segment
|
Q3.2022 Analyst
Package
Preliminary results
(unaudited)
|
Segment Statement of
Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
in millions
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Net
sales
|
|
$
|
2,519
|
|
|
$
|
2,341
|
|
|
$
|
1,767
|
|
|
$
|
1,853
|
|
|
$
|
6,627
|
|
|
$
|
6,503
|
|
Costs of
sales
|
|
|
1,276
|
|
|
|
1,414
|
|
|
|
1,360
|
|
|
|
1,270
|
|
|
|
4,050
|
|
|
|
3,623
|
|
Gross
margin
|
|
|
1,243
|
|
|
|
927
|
|
|
|
407
|
|
|
|
583
|
|
|
|
2,577
|
|
|
|
2,880
|
|
Selling
expenses
|
|
|
21
|
|
|
|
21
|
|
|
|
22
|
|
|
|
21
|
|
|
|
64
|
|
|
|
61
|
|
General and
administrative expenses
|
|
|
35
|
|
|
|
35
|
|
|
|
36
|
|
|
|
34
|
|
|
|
106
|
|
|
|
104
|
|
Other operating costs,
net
|
|
|
5
|
|
|
|
8
|
|
|
|
5
|
|
|
|
11
|
|
|
|
18
|
|
|
|
20
|
|
Operating income and
Net contribution to earnings
|
|
$
|
1,182
|
|
|
$
|
863
|
|
|
$
|
344
|
|
|
$
|
517
|
|
|
$
|
2,389
|
|
|
$
|
2,695
|
|
Adjusted Earnings
before Interest, Tax, Depreciation, Depletion and
Amortization(1)
|
|
in millions
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Operating
income
|
|
$
|
1,182
|
|
|
$
|
863
|
|
|
$
|
344
|
|
|
$
|
517
|
|
|
$
|
2,389
|
|
|
$
|
2,695
|
|
Depreciation, depletion
and amortization
|
|
|
51
|
|
|
|
49
|
|
|
|
51
|
|
|
|
48
|
|
|
|
151
|
|
|
|
145
|
|
Adjusted
EBITDA(1)
|
|
$
|
1,233
|
|
|
$
|
912
|
|
|
$
|
395
|
|
|
$
|
565
|
|
|
$
|
2,540
|
|
|
$
|
2,840
|
|
|
|
(1)
|
See definition of
Adjusted EBITDA (a non-GAAP measure) on page 1.
|
Selected Segment
Items
|
|
in millions
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Total decrease
(increase) in working capital(2)
|
|
$
|
(371)
|
|
|
$
|
205
|
|
|
$
|
136
|
|
|
$
|
249
|
|
|
$
|
(30)
|
|
|
$
|
(12)
|
|
Cash spent for capital
expenditures
|
|
$
|
(39)
|
|
|
$
|
(56)
|
|
|
$
|
(68)
|
|
|
$
|
(70)
|
|
|
$
|
(163)
|
|
|
$
|
(146)
|
|
|
|
(2)
|
Represents the change
in prepaid assets, accounts receivable, accounts payable, accrued
liabilities and inventory for the Wood Products segment.
|
Segment
Statistics
|
|
in millions, except for
third party sales realizations
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Structural Lumber
|
Third party net
sales
|
|
$
|
1,206
|
|
|
$
|
998
|
|
|
$
|
676
|
|
|
$
|
681
|
|
|
$
|
2,880
|
|
|
$
|
3,020
|
|
(volumes
presented
|
Third party sales
realizations
|
|
$
|
1,041
|
|
|
$
|
776
|
|
|
$
|
556
|
|
|
$
|
516
|
|
|
$
|
786
|
|
|
$
|
812
|
|
in board
feet)
|
Third party sales
volumes(3)
|
|
|
1,157
|
|
|
|
1,289
|
|
|
|
1,216
|
|
|
|
1,320
|
|
|
|
3,662
|
|
|
|
3,717
|
|
|
Production
volumes
|
|
|
1,203
|
|
|
|
1,232
|
|
|
|
1,140
|
|
|
|
1,222
|
|
|
|
3,575
|
|
|
|
3,667
|
|
Oriented
Strand
|
Third party net
sales
|
|
$
|
564
|
|
|
$
|
497
|
|
|
$
|
287
|
|
|
$
|
470
|
|
|
$
|
1,348
|
|
|
$
|
1,513
|
|
Board
|
Third party sales
realizations
|
|
$
|
787
|
|
|
$
|
676
|
|
|
$
|
401
|
|
|
$
|
691
|
|
|
$
|
622
|
|
|
$
|
735
|
|
(volumes
presented
|
Third party sales
volumes(3)
|
|
|
717
|
|
|
|
735
|
|
|
|
715
|
|
|
|
681
|
|
|
|
2,167
|
|
|
|
2,058
|
|
in square feet
3/8")
|
Production
volumes
|
|
|
739
|
|
|
|
758
|
|
|
|
735
|
|
|
|
715
|
|
|
|
2,232
|
|
|
|
2,140
|
|
Engineered
Solid
|
Third party net
sales
|
|
$
|
196
|
|
|
$
|
247
|
|
|
$
|
233
|
|
|
$
|
183
|
|
|
$
|
676
|
|
|
$
|
491
|
|
Section
|
Third party sales
realizations
|
|
$
|
3,433
|
|
|
$
|
3,863
|
|
|
$
|
3,946
|
|
|
$
|
3,092
|
|
|
$
|
3,754
|
|
|
$
|
2,628
|
|
(volumes
presented
|
Third party sales
volumes(3)
|
|
|
5.7
|
|
|
|
6.4
|
|
|
|
5.9
|
|
|
|
5.9
|
|
|
|
18.0
|
|
|
|
18.7
|
|
in cubic
feet)
|
Production
volumes
|
|
|
5.7
|
|
|
|
6.4
|
|
|
|
6.0
|
|
|
|
5.8
|
|
|
|
18.1
|
|
|
|
18.0
|
|
Engineered
|
Third party net
sales
|
|
$
|
137
|
|
|
$
|
168
|
|
|
$
|
166
|
|
|
$
|
128
|
|
|
$
|
471
|
|
|
$
|
315
|
|
I-joists
|
Third party sales
realizations
|
|
$
|
2,969
|
|
|
$
|
3,432
|
|
|
$
|
3,525
|
|
|
$
|
2,600
|
|
|
$
|
3,312
|
|
|
$
|
2,119
|
|
(volumes
presented
|
Third party sales
volumes(3)
|
|
|
46
|
|
|
|
49
|
|
|
|
47
|
|
|
|
49
|
|
|
|
142
|
|
|
|
149
|
|
in lineal
feet)
|
Production
volumes
|
|
|
44
|
|
|
|
50
|
|
|
|
47
|
|
|
|
49
|
|
|
|
141
|
|
|
|
144
|
|
Softwood Plywood
|
Third party net
sales
|
|
$
|
58
|
|
|
$
|
53
|
|
|
$
|
47
|
|
|
$
|
45
|
|
|
$
|
158
|
|
|
$
|
170
|
|
(volumes
presented
|
Third party sales
realizations
|
|
$
|
783
|
|
|
$
|
746
|
|
|
$
|
632
|
|
|
$
|
653
|
|
|
$
|
720
|
|
|
$
|
710
|
|
in square feet
3/8")
|
Third party sales
volumes(3)
|
|
|
75
|
|
|
|
70
|
|
|
|
74
|
|
|
|
69
|
|
|
|
219
|
|
|
|
240
|
|
|
Production
volumes
|
|
|
66
|
|
|
|
67
|
|
|
|
64
|
|
|
|
61
|
|
|
|
197
|
|
|
|
203
|
|
Medium
Density
|
Third party net
sales
|
|
$
|
48
|
|
|
$
|
53
|
|
|
$
|
50
|
|
|
$
|
52
|
|
|
$
|
151
|
|
|
$
|
143
|
|
Fiberboard
|
Third party sales
realizations
|
|
$
|
1,082
|
|
|
$
|
1,174
|
|
|
$
|
1,274
|
|
|
$
|
943
|
|
|
$
|
1,173
|
|
|
$
|
885
|
|
(volumes
presented
|
Third party sales
volumes(3)
|
|
|
44
|
|
|
|
45
|
|
|
|
40
|
|
|
|
55
|
|
|
|
129
|
|
|
|
162
|
|
in square feet
3/4")
|
Production
volumes
|
|
|
44
|
|
|
|
48
|
|
|
|
38
|
|
|
|
55
|
|
|
|
130
|
|
|
|
163
|
|
|
|
(3)
|
Volumes include sales
of internally produced products and products purchased for resale
primarily through our distribution business.
|
Weyerhaeuser
Company
|
Unallocated
Items
|
Q3.2022 Analyst
Package
|
Preliminary results
(unaudited)
|
|
Unallocated items are
gains or charges not related to, or allocated to, an individual
operating segment. They include all or a portion of items such as
share-based compensation, pension and post-employment costs,
elimination of intersegment profit in inventory and LIFO, foreign
exchange transaction gains and losses, interest income and other as
well as legacy obligations.
|
Net Charge to
Earnings
|
|
in millions
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Unallocated corporate
function and variable compensation expense
|
|
$
|
(31)
|
|
|
$
|
(36)
|
|
|
$
|
(36)
|
|
|
$
|
(33)
|
|
|
$
|
(103)
|
|
|
$
|
(94)
|
|
Liability classified
share-based compensation
|
|
|
1
|
|
|
|
2
|
|
|
|
2
|
|
|
|
(1)
|
|
|
|
5
|
|
|
|
(2)
|
|
Foreign exchange
gain
|
|
|
—
|
|
|
|
3
|
|
|
|
9
|
|
|
|
5
|
|
|
|
12
|
|
|
|
2
|
|
Elimination of
intersegment profit in inventory and LIFO
|
|
|
(59)
|
|
|
|
18
|
|
|
|
2
|
|
|
|
12
|
|
|
|
(39)
|
|
|
|
(33)
|
|
Other, net
|
|
|
(12)
|
|
|
|
(21)
|
|
|
|
(19)
|
|
|
|
(29)
|
|
|
|
(52)
|
|
|
|
(62)
|
|
Operating
loss
|
|
|
(101)
|
|
|
|
(34)
|
|
|
|
(42)
|
|
|
|
(46)
|
|
|
|
(177)
|
|
|
|
(189)
|
|
Non-operating pension
and other post-employment benefit costs
|
|
|
(15)
|
|
|
|
(11)
|
|
|
|
(12)
|
|
|
|
(5)
|
|
|
|
(38)
|
|
|
|
(14)
|
|
Interest income and
other
|
|
|
(1)
|
|
|
|
1
|
|
|
|
9
|
|
|
|
1
|
|
|
|
9
|
|
|
|
4
|
|
Net charge to
earnings
|
|
$
|
(117)
|
|
|
$
|
(44)
|
|
|
$
|
(45)
|
|
|
$
|
(50)
|
|
|
$
|
(206)
|
|
|
$
|
(199)
|
|
Adjusted Earnings
before Interest, Tax, Depreciation, Depletion and
Amortization(1)
|
|
in millions
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Operating
loss
|
|
$
|
(101)
|
|
|
$
|
(34)
|
|
|
$
|
(42)
|
|
|
$
|
(46)
|
|
|
$
|
(177)
|
|
|
$
|
(189)
|
|
Depreciation, depletion
and amortization
|
|
|
2
|
|
|
|
1
|
|
|
|
2
|
|
|
|
2
|
|
|
|
5
|
|
|
|
5
|
|
Adjusted
EBITDA(1)
|
|
$
|
(99)
|
|
|
$
|
(33)
|
|
|
$
|
(40)
|
|
|
$
|
(44)
|
|
|
$
|
(172)
|
|
|
$
|
(184)
|
|
|
|
(1)
|
See definition of
Adjusted EBITDA (a non-GAAP measure) on page 1.
|
Unallocated Selected
Items
|
|
in millions
|
|
Q1.2022
|
|
|
Q2.2022
|
|
|
Q3.2022
|
|
|
Q3.2021
|
|
|
YTD.2022
|
|
|
YTD.2021
|
|
Cash spent for capital
expenditures
|
|
$
|
(1)
|
|
|
$
|
(2)
|
|
|
$
|
(4)
|
|
|
$
|
(1)
|
|
|
$
|
(7)
|
|
|
$
|
(1)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For more information contact:
|
|
Analysts – Andy
Taylor (206) 539-3907
|
|
|
Media–Nancy Thompson (919)
861-0342
|
View original content to download
multimedia:https://www.prnewswire.com/news-releases/weyerhaeuser-reports-third-quarter-results-301661802.html
SOURCE Weyerhaeuser Company