Weyerhaeuser quarterly profit slumps as higher costs weigh on timber business

Weyerhaeuser

30/01/2025 22:04

Jan 30 (Reuters) - U.S. timber company Weyerhaeuser
 WY.N  reported a sharp drop in fourth-quarter profit on
Thursday as it struggled with higher forestry and road costs in
its timberlands unit due to wet weather conditions. 
    The company owns or controls about 10.5 million acres of
timberlands in the United States, primarily in the West, South
and Northeast.     
    Last year, the company said it would acquire timberlands in
Alabama totaling 84,300 acres in three transactions for $244
million, which were closed by October.
    Weyerhaeuser posted a profit of $81 million for the quarter
ended Dec. 31, compared with $219 million a year earlier.
    The Seattle-based company's adjusted core profit from its
timberlands segment was $126 million, down nearly 12%.
    Still, Weyerhaeuser expects current-quarter core profit to
be about $20 million higher than the fourth quarter, helped by
higher sales of domestic logs. 
    "Entering 2025, our balance sheet is strong, and we are well
positioned to capitalize as market conditions improve," CEO
Devin W. Stockfish said in a statement.
    

 (Reporting by Tanay Dhumal in Bengaluru; Editing by Sriraj
Kalluvila and Shilpi Majumdar)
 ((Tanay.Dhumal@thomsonreuters.com; Twitter: https://twitter.com/TanayDhumal;))