Weyerhaeuser (NYSE: WY) reported Q3 EPS of $0.08, $0.02 worse than the analyst estimate of $0.10. Revenue for the quarter came in at $1.69 billion versus the consensus estimate of $1.68 billion.

"In the third quarter, we again delivered strong operating performance despite challenging market conditions," said Devin W. Stockfish, president and chief executive officer. "We also announced the pending sale of 555,000 acres in Michigan, which will further optimize our timberlands portfolio. Looking forward, we continue to expect that U.S. housing activity will follow a modest growth trajectory. We remain intently focused on achieving operational excellence in every aspect of our business and fully capitalizing on every available market opportunity to drive value for our shareholders."

Q4 2019 Outlook – Weyerhaeuser anticipates fourth quarter earnings before special items and Adjusted EBITDA for Wood Products will be lower than the third quarter, but higher than the fourth quarter of 2018, before any improvement in average sales realizations. The company expects seasonally lower sales volumes across most products, higher Western log costs, and modest improvement in other operating costs.

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