Excluding after-tax charges of $80 million for special items, the company reported net earnings of $150 million for the 1Q. This compares with net earnings before special items of $99 million for the same period last year and $121 million for 4Q 2015.
"I am extremely proud of the work of our employees in the first quarter, as we closed the Plum Creek merger, delivered solid operating performance across each of our businesses, and completed about 35% of our $2.5 billion share repurchase authorization," said Doyle R. Simons, president and CEO. "These accomplishments, and the recently announced sale of our pulp mills to International Paper, illustrate our commitment to a focused portfolio, industry-leading performance and disciplined capital allocation. We are making solid progress on merger integration and synergies, and look forward to building on that strong foundation as we work together to be the world's premier timber, land, and forest products company and drive exceptional value for shareholders."
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900.
