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Stock impact report

Weyerhaeuser reports 50% drop in second-quarter profit on weak lumber demand [Yahoo! Finance Canada]

Weyerhaeuser Company (WY) 
Last weyerhaeuser company earnings: 5/1 03:05 am Check Earnings Report
US:NYSE Investor Relations: investor.weyerhaeuser.com
on Thursday, hurt by continued weakness in commodity wood product pricing and softer demand across key end markets. Sales of new U.S. single-family homes fell by the most in nearly three years in May as high mortgage rates and rising economic uncertainty sapped demand, pushing the supply of unsold houses on the market to its highest level since late 2007. The company owns or controls about 10.5 million acres of timberlands primarily in the West, the South and the Northeast regions. The Seattle-based company's net sales fell 3% to $1.88 billion, but exceeded analysts' average estimate of $1.84 billion, according to data compiled by LSEG. Weyerhaeuser said its adjusted profit in the third quarter would be about $60 million lower than the second quarter. The company reported an adjusted profit of $87 million in the second quarter. The results come as the lumber industry braces for the impact of U.S. President Donald Trump's plans to impose 25% tariffs on imports from Canada. Show less Read more
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