Weyerhaeuser said Q1 2024 net sales decreased $85 million (5%), citing a $75 million decrease in Timberlands sales to unaffiliated customers as the main factor. Operating income fell $40 million (17%), and net earnings decreased $37 million (25%).

10-QQuarterly reportFiled Apr 26, 2024Period of report Mar 31, 2024Summary published (UTC) Oct 24, 2026

Key points

AI summary

Weyerhaeuser said Q1 2024 net sales decreased $85 million (5%), citing a $75 million decrease in Timberlands sales to unaffiliated customers as the main factor. Operating income fell $40 million (17%), and net earnings decreased $37 million (25%).
The company said Timberlands sales to unaffiliated customers fell $75 million (16%). Western log sales decreased $53 million, with sales volumes down 13% and sales realizations down 12%, while Southern log sales decreased $17 million, with sales volumes down 7% and sales realizations down 3%.
Wood Products sales of oriented strand board rose $47 million, the company said, as sales realizations increased 33% and sales volumes decreased 8%. Operating income for the segment increased $33 million (35%), while Weyerhaeuser said structural lumber sales decreased $51 million.
Weyerhaeuser said it held cash and cash equivalents of $871 million and $1.5 billion of availability under its line of credit as of March 31, 2024. It repurchased 1,472,369 shares for about $49 million in Q1, and its supplemental dividend was $0.14 per share, for a total of $102 million.

Key figures

Quarter ended March 31, 2024

Revenue: $1.8B
Operating income: $196M
Net income: $114M
EPS: $0.16
Gross profit: $355M
Operating cash flow: $124M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Q1 2024 net sales, operating income and net earnings decline

Weyerhaeuser said Q1 2024 net sales decreased $85 million (5%), citing a $75 million decrease in Timberlands sales to unaffiliated customers as the main factor. Operating income fell $40 million (17%), and net earnings decreased $37 million (25%).

Source · Based on the MD&A text of the filing

Timberlands log sales to unaffiliated customers fall

The company said Timberlands sales to unaffiliated customers fell $75 million (16%). Western log sales decreased $53 million, with sales volumes down 13% and sales realizations down 12%, while Southern log sales decreased $17 million, with sales volumes down 7% and sales realizations down 3%.

Source · Based on the MD&A text of the filing

Wood Products oriented strand board sales and operating income rise

Wood Products sales of oriented strand board rose $47 million, the company said, as sales realizations increased 33% and sales volumes decreased 8%. Operating income for the segment increased $33 million (35%), while Weyerhaeuser said structural lumber sales decreased $51 million.

Source · Based on the MD&A text of the filing

March 31, 2024 liquidity and Q1 shareholder returns

Weyerhaeuser said it held cash and cash equivalents of $871 million and $1.5 billion of availability under its line of credit as of March 31, 2024. It repurchased 1,472,369 shares for about $49 million in Q1, and its supplemental dividend was $0.14 per share, for a total of $102 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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