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Mar 31, 2020
Weyerhaeuser Q1 2020 Earnings Report
Weyerhaeuser's first quarter results were reported.
Key Takeaways
Weyerhaeuser reported first quarter net earnings of $150 million, or 20 cents per diluted share, on net sales of $1.7 billion. The company increased net earnings before special items by 73 percent compared with the first quarter of 2019. Due to deteriorating market conditions, the company is temporarily suspending the quarterly dividend to preserve liquidity and financial flexibility.
Achieved net earnings of $150 million, or $0.20 per share
Increased net earnings before special items by 73 percent compared with first quarter 2019
Details additional actions in response to COVID-19 pandemic, including temporary suspension of quarterly dividend to preserve liquidity and financial flexibility
Each business delivered strong operating results despite rapidly changing market conditions associated with the COVID-19 pandemic
Revenue by Segment
Forward Guidance
Weyerhaeuser expects second quarter earnings and Adjusted EBITDA will be significantly lower than first quarter 2020.
Challenges Ahead
- In the West, the company anticipates lower realizations, comparable domestic log sales volumes, and seasonally higher road and forestry costs, partially offset by higher sales volumes for China export logs.
- In the South, the company expects lower fee harvest volumes and slightly lower average log sales realizations.
- Market demand for Southern sawlogs began to decrease significantly due to the severe economic impact of COVID-19.
- Second quarter earnings and Adjusted EBITDA will be approximately $20 million lower than second quarter 2019 due to fewer real estate acres sold.
- The company anticipates significantly lower sales volumes across all product lines.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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