Weyerhaeuser said net sales for Q2 2024 decreased $58 million (3%), operating income decreased $49 million (15%), and net earnings decreased $57 million (25%). The company cited lower Wood Products sales realizations and sales volumes as the main factor behind the decline in net sales.

10-QQuarterly reportFiled Jul 26, 2024Period of report Jun 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Weyerhaeuser said net sales for Q2 2024 decreased $58 million (3%), operating income decreased $49 million (15%), and net earnings decreased $57 million (25%). The company cited lower Wood Products sales realizations and sales volumes as the main factor behind the decline in net sales.
The company said Wood Products structural lumber sales for Q2 decreased $74 million, while oriented strand board sales increased $73 million. It explained that structural lumber sales realizations fell 13% and oriented strand board sales realizations rose 36%.
Weyerhaeuser said the imbalance of supply and demand in lumber markets has resulted in a sustained, weak pricing environment. The company said it expects to reduce its lumber production by 5 to 10% in Q3 2024, and that this reduction includes its decision to indefinitely curtail its lumber mill in New Bern, North Carolina.
Weyerhaeuser said it had $997 million in cash and cash equivalents and $1.5 billion of availability on its line of credit as of June 30, 2024. The company said it repurchased 1,669,145 shares for about $50 million in Q2 2024, and 3,141,514 shares for about $99 million year to date.

Key figures

Quarter ended June 30, 2024

Revenue: $1.9B
Operating income: $270M
Net income: $173M
EPS: $0.24
Gross profit: $404M

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 excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly Net Sales, Operating Income and Net Earnings Decline

Weyerhaeuser said net sales for Q2 2024 decreased $58 million (3%), operating income decreased $49 million (15%), and net earnings decreased $57 million (25%). The company cited lower Wood Products sales realizations and sales volumes as the main factor behind the decline in net sales.

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

Wood Products Product-Level Changes in Q2

The company said Wood Products structural lumber sales for Q2 decreased $74 million, while oriented strand board sales increased $73 million. It explained that structural lumber sales realizations fell 13% and oriented strand board sales realizations rose 36%.

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

Lumber Production Cut of 5 to 10% and New Bern Curtailment

Weyerhaeuser said the imbalance of supply and demand in lumber markets has resulted in a sustained, weak pricing environment. The company said it expects to reduce its lumber production by 5 to 10% in Q3 2024, and that this reduction includes its decision to indefinitely curtail its lumber mill in New Bern, North Carolina.

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

Liquidity and Capital Allocation as of June 30, 2024

Weyerhaeuser said it had $997 million in cash and cash equivalents and $1.5 billion of availability on its line of credit as of June 30, 2024. The company said it repurchased 1,669,145 shares for about $50 million in Q2 2024, and 3,141,514 shares for about $99 million year to date.

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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