Weyerhaeuser Company reported 1Q 2020 net earnings of $150 million, or 20 cents per diluted share, on net sales of $1.7 billion. This compares with a net loss of $289 million, or 39 cents per diluted share, on net sales of $1.6 billion for the same period last year.
For the month of April, Weyerhaeuser expects to reduce operating capacity by approximately 20% for lumber, 15% for oriented strand board, and 15% to 25% for engineered wood products through a combination of temporary mill curtailments and reduced shift postures.
Weyerhaeuser Company completes the sale of its 630,000 acres of Montana timberlands to Southern Pine Plantations for approximately $145 million in cash. The company anticipates it will incur minimal tax liability in conjunction with the sale.
Weyerhaeuser Company reported a 4Q 2019 net loss of $14 million on net sales of $1.5 billion. This compares with a net loss of $93 million on net sales of $1.6 billion for the same period last year and net earnings of $99 million for the 3Q 2019.