Weyerhaeuser reports positive Q2, 2024 results, aquisition of 84,300 acres of Alabama timberland

Weyerhaeuser Company
July 25, 2024
Category: Finance & Economics
Region: United States, US East

SEATTLE – Weyerhaeuser Company reported second quarter net earnings of $173 million on net sales of $1.9 billion. This compares with net earnings of $230 million on net sales of $2.0 billion for the same period last year and net earnings of $114 million for first quarter 2024. Excluding an after-tax benefit of $19 million for special items, the company reported second quarter net earnings of $154 million. This compares with net earnings before special items of $238 million for the same period last year.Adjusted EBITDA for second quarter 2024 was $410 million, compared with $469 million for the same period last year and $352 million for first quarter 2024. … Weyerhaeuser also announced strategic timberland acquisitions in Alabama, totaling 84,300 acres for $244 million. The first transaction closed in second quarter 2024 for $48 million.Devin W. Stockfish, CEO, said “Despite ongoing challenges in the lumber market, Adjusted EBITDA improved across each of our business segments compared to first quarter 2024.

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