Weyerhaeuser (WY) Tops Q3 EPS by 5c
Weyerhaeuser (NYSE: WY) reported Q3 EPS of $0.52, $0.05 better than the analyst estimate of $0.47. Revenue for the quarter came in at $2.1 billion versus the consensus estimate of $2.07 billion.
Q4 2020 Outlook – Weyerhaeuser expects fourth quarter earnings and Adjusted EBITDA will be higher than the third quarter. In the West, the company anticipates higher average sales realizations for domestic and Japanese export logs and improved log sales volumes as Oregon harvest activity resumes and salvage operations begin. In the South, the company expects slightly higher forestry expense and slightly lower average log sales realizations due to mix.
In September 2020, the company announced an agreement to sell 149,000 acres of southern Oregon timberlands and a separate agreement to purchase 85,000 acres of mid-coastal Oregon timberlands. The two agreements are subject to customary closing conditions and are both expected to close in fourth quarter 2020.
For earnings history and earnings-related data on Weyerhaeuser (WY) click here.