Weather dampens Weyeraheuser’s bottom line
January 24, 2005 By Pulp & Paper Canada
Weyerhaeuser has reported net earnings of $1.3 billion for 2004, or $5.43 per diluted share, on net sales of $22.7…
Weyerhaeuser has reported net earnings of $1.3 billion for 2004, or $5.43 per diluted share, on net sales of $22.7 billion. The year 2003 pulled in net earnings of $277 million, on net sales of $19.9 billion, or $1.25 per diluted share.
Fourth quarter 2004 earnings were $199 million or 82 cents per diluted share, on net sales of $5.9 billion. Last year, Weyerhaeuser reported fourth quarter net earnings of $92 million, or 41 cents per diluted share, on net sales of $5.1 billion.
Chairman, president and CEO Steven Rogel confirmed that some of the company’s businesses experienced costs that were higher than anticipated, which took a toll on results. “Some of these costs resulted from maintenance we had delayed until the fourth quarter due to strong market demand earlier in the year. We also incurred additional costs due to weather-related issues and the downtime we took to balance order with customer demand,” Rogel explained. “As we look to the first quarter, we are concerned about the impact unusually bad weather may have on our results.”
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