Weyerhaeuser posts profit
July 21, 2005 By Pulp & Paper Canada
Weyerhaeuser has reported second quarter net earnings of $420 million, or $1.71 per diluted share, on net sales of …
Weyerhaeuser has reported second quarter net earnings of $420 million, or $1.71 per diluted share, on net sales of $5.8 billion. In the second quarter of 2004, the company posted earnings of $369 million, or $1.57 per diluted share, on net sales of $5.7 billion.
Despite the positive numbers, the company remains cautiously optimistic.
“This year’s overall results are good, despite conditions that were more difficult than second quarter of last year,” said Steven Rogel, chairman, president and CEO.
“We’re pleased with this short-term performance, but we also recognize that many of our businesses face significant long-term challenges,” he added.
The company has also confirmed that it anticipates third quarter earnings to take a slight dip, on account of reduced harvest and sales activity from seasonal shutdowns. Although export prices are predicted to be moderately higher next quarter, the amount isn’t expected to offset forecasted declines in domestic log prices.
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