Weyerhaeuser Company reported Q1 2024 net earnings of $114 million, or 16 cents per diluted share, on net sales of $1.8 billion. This compares with net earnings of $151 million, or 21 cents per diluted share, on net sales of $1.9 billion for the same period last year and net earnings of $219 million for Q4 2023. Net earnings before special items were $121 million for Q4 2023.
Adjusted EBITDA for Q1 2024 was $352 million, compared with $395 million for the same period last year and $321 million for Q4 2023.
“In the Q1, we delivered solid results across our businesses,” said Devin W. Stockfish, President and CEO. “In addition, we continued to make progress toward our multi-year targets by increasing our base dividend by 5.3% and signing our third carbon capture and sequestration agreement in the U.S. South. Looking forward, we are encouraged by the strong underlying fundamentals that will drive long-term growth for housing and repair and remodel demand, and natural climate solutions. And given our unmatched portfolio of assets, we are uniquely positioned to capitalize on these opportunities well into the future. Our balance sheet is exceptionally strong, and we remain focused on driving peer-leading performance across our businesses, serving our customers and delivering superior long-term value and returns to our shareholders.”
Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900. The Company owns or controls approximately 10.5 million acres of timberlands in the U.S. and manages additional timberlands under long-term lice
