Friday, 31 January 2014

More on Weyerhaeuser Q4: Special items hit profit

  • Weyerhaeuser’s (WY) net profit dropped to $43M from $143M a year earlier, with the latest figures hurt by after-tax charges of $114 million for special items.

  • Revenue from wood products fell to $926M from $1.03B in Q3, due to “unusually severe weather.”

  • Weyerhaeuser expects higher earnings from its Timberlands and Wood Products segments in Q1. The company also forecasts higher average selling prices for lumber, seasonally higher sales volumes across most product lines, and improved operating rates.

  • However, Weyerhaeuser predicts that its earnings from its Cellulose Fibers segment will fall, with slightly lower pulp sales volumes, increased maintenance costs, and higher fiber and labor costs.

  • Weyerhaeuser expects a modest profit from its single family homebuilding operations in the quarter, with closings seen falling seasonally to around 600 homes; however, the company forecasts higher average closing prices. (PR)

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