Weyerhaeuser Company reported 3Q 2021 net earnings of $482 million, or 64 cents per diluted share, on net sales of $2.3 billion. This compares with net earnings of $283 million, or 38 cents per diluted share, on net sales of $2.1 billion for the same period last year.
Excluding an after-tax benefit of $32 million for special items related to a gain on the sale of timberlands, the company reported 3Q 2021 net earnings of $450 million, or 60 cents per diluted share. This compares with net earnings before special items of $386 million for the same period last year and $1 billion for the 2Q 2021.
Adjusted EBITDA for the 3Q 2021 was $746 million compared with $745 million for the same period last year and $1.6 billion for the 2Q 2021.
"In the 3Q, we delivered strong results across each of our businesses despite weather-related operational disruptions, continued supply chain challenges and the ongoing pandemic," said Devin W. Stockfish, President and CEO. "Our teams did an exceptional job navigating these headwinds and I'm extremely proud of their collective focus on operating safely, strong execution and continuing to serve our customers. Year to date, we have generated more than $3.4 billion of Adjusted EBITDA and $2.4 billion of Adjusted Funds Available for Distribution. We expect this record cash flow generation to result in a significant supplemental dividend payment to shareholders in the 1Q 2022. We are bullish on the underlying demand fundamentals for U.S. housing and growth opportunities for our businesses and remain intently focused on delivering superior shareholder value."
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900.
