Weyerhaeuser Company reported 1Q 2017 net earnings of $157 million on net sales of $1.7 billion. This compares with earnings of $61 million on net sales of $1.4 billion for the same period last year. 1Q 2017 adjusted EBITDA increased by 14% to $454 million, compared to $336 million in 1Q 2016, as the company says in the press release received by Lesprom Network.
Excluding an after-tax special item of $10 million for merger-related costs, the company reported net earnings of $167 million for the 1Q 2017. This compares with net earnings from continuing operations before special items of $126 million for the same period last year and $106 million for 4Q 2016.
"I am very pleased with our 1Q performance, as our employees capitalized on operational excellence improvements, merger-related synergies and strengthening market conditions to deliver outstanding results," said Doyle R. Simons, President and CEO. "In addition, we achieved our increased $125 million run-rate merger cost synergy target. Looking forward, we remain relentlessly focused on leveraging merger synergies and operational improvements to drive industry leading performance and superior value for our shareholders."
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900.
