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Mar 31, 2024
Weyerhaeuser Q1 2024 Earnings Report
Weyerhaeuser reported solid results across its businesses in Q1 2024.
Key Takeaways
Weyerhaeuser reported first quarter net earnings of $114 million, or 16 cents per diluted share, on net sales of $1.8 billion. The company delivered solid results across its businesses and continued to make progress toward its multi-year targets by increasing its base dividend and signing its third carbon capture and sequestration agreement in the U.S. South.
Achieved net earnings of $114 million, or $0.16 per diluted share
Generated Adjusted EBITDA of $352 million, a 10 percent increase compared with fourth quarter 2023
Increased quarterly base dividend by 5.3 percent
Enhanced our carbon capture and sequestration business with exploration agreement across five potential sites in the U.S. South
Weyerhaeuser
Weyerhaeuser
Weyerhaeuser Revenue by Segment
Revenue by Segment
Timberlands Revenue
CapyFin.comReal Estate & ENR Revenue
CapyFin.comWood Products Revenue
CapyFin.com Forward Guidance
Weyerhaeuser anticipates second quarter earnings and Adjusted EBITDA will be slightly higher than the first quarter.
Positive Outlook
- In the West, the company expects moderately higher fee harvest volumes, comparable sales realizations, and higher per unit log and haul costs.
- In the South, the company expects fee harvest volumes to be moderately higher and sales realizations and per unit log and haul costs to be comparable.
- For lumber, the company expects higher sales volumes, slightly lower log costs, and moderately lower unit manufacturing costs.
- For oriented strand board, the company anticipates moderately higher sales volumes, slightly higher fiber costs, and comparable unit manufacturing costs.
- For distribution, the company anticipates higher results compared to the first quarter.
Challenges Ahead
- Forestry and road costs in the West and South are expected to be seasonally higher.
- Weyerhaeuser anticipates second quarter earnings will be approximately $10 million lower than the first quarter and Adjusted EBITDA will be comparable to the first quarter due to the timing and mix of real estate sales.
- For engineered wood products, the company expects sales volumes to be higher, sales realizations to be comparable, and raw material costs to be higher, primarily for oriented strand board webstock.
- Excluding the effect of changes in average sales realizations for lumber and oriented strand board.
- 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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income