The company said operating income fell $275 million (78%) in Q3 2024 and net earnings fell $211 million (88%). The company cited a $252 million decrease in consolidated gross margin and a $10 million noncash impairment charge related to the indefinite curtailment of its New Bern lumber mill as factors in the operating income decline.

10-QQuarterly reportFiled Oct 25, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said operating income fell $275 million (78%) in Q3 2024 and net earnings fell $211 million (88%). The company cited a $252 million decrease in consolidated gross margin and a $10 million noncash impairment charge related to the indefinite curtailment of its New Bern lumber mill as factors in the operating income decline.
The company said its Wood Products net sales to unaffiliated customers fell $302 million in Q3. It attributed the decline to lower sales realizations and sales volumes across most product lines, and said structural lumber sales decreased $119 million.
Weyerhaeuser said its lumber production in Q3 fell 10.1% from Q2, including the indefinite curtailment of its New Bern mill. The company said it expects to return to more normalized operating rates in Q4.
The company said it held $877 million in cash and cash equivalents and $1.5 billion of availability on its line of credit as of September 30, 2024. The company also said it repurchased 3,962,220 shares for approximately $125 million in 2024 year-to-date.

Key figures

Quarter ended September 30, 2024

Revenue: $1.7B
Operating income: $78M
Net income: $28M
EPS: $0.04
Gross profit: $250M

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 Operating Income and Net Earnings Decline

The company said operating income fell $275 million (78%) in Q3 2024 and net earnings fell $211 million (88%). The company cited a $252 million decrease in consolidated gross margin and a $10 million noncash impairment charge related to the indefinite curtailment of its New Bern lumber mill as factors in the operating income decline.

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

Wood Products Sales Fall on Lower Prices and Volumes

The company said its Wood Products net sales to unaffiliated customers fell $302 million in Q3. It attributed the decline to lower sales realizations and sales volumes across most product lines, and said structural lumber sales decreased $119 million.

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

Lumber Operating Rates Cut and Market Conditions

Weyerhaeuser said its lumber production in Q3 fell 10.1% from Q2, including the indefinite curtailment of its New Bern mill. The company said it expects to return to more normalized operating rates in Q4.

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

Liquidity and Shareholder Returns

The company said it held $877 million in cash and cash equivalents and $1.5 billion of availability on its line of credit as of September 30, 2024. The company also said it repurchased 3,962,220 shares for approximately $125 million in 2024 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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