Weyerhaeuser Company reported 1Q 2021 net earnings of $681 million, or 91 cents per diluted share, on net sales of $2.5 billion. This compares with net earnings of $150 million, or 20 cents per diluted share, on net sales of $1.7 billion for the same period last year and net earnings of $292 million for the 4Q 2020.
Net earnings before special items were $138 million for the same period last year and $361 million for the 4Q 2020.
Adjusted EBITDA for the 1Q 2021 was $1.1 billion compared with $413 million for the same period last year and $657 million for the 4Q 2020.
"I am extremely pleased with our 1Q results, as our businesses delivered Weyerhaeuser's highest quarterly Adjusted EBITDA on record despite severe winter weather and supply chain disruptions," said Devin W. Stockfish, President and CEO. "We also surpassed our previous record for Wood Products Adjusted EBITDA by more than 50% and announced a strategic acquisition to enhance our Alabama timberland holdings. As 2021 progresses, new residential construction activity is exhibiting remarkable momentum and repair and remodel demand remains very favorable. We remain committed to delivering operational excellence across our unmatched portfolio of assets and enhancing shareholder value through disciplined capital allocation."
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. The company owns or controls approximately 11 million acres of timberlands in the U.S. and manages additional timberlands under long-term licenses in Canada.