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Weyerhaeuser logs Q4, FY'17 results

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Weyerhaeuser logs Q4, FY'17 results

Weyerhaeuser Co. reported net earnings attributable to common shareholders of $271 million, or 36 cents per share, on net sales of $1.82 billion, for the fourth quarter of 2017.

This compares to year-ago net attributable earnings of $551 million, or 73 cents per common share, on net sales of roughly $1.60 billion. The fourth-quarter 2016 results included $489 million in after-tax earnings from discontinued operations.

The company noted that the 2017 fourth-quarter results included a net after-tax benefit of $37 million from special items, excluding which the net attributable earnings came in at $234 million, or 31 cents per share, compared to net earnings from continuing operations in the year-ago period of $106 million.

For the 2017 full year, net attributable earnings came in at $582 million, or 77 cents per common share, on net sales of roughly $7.20 billion, compared to net attributable earnings of roughly $1.01 billion, or 55 cents per share, on net sales of roughly $6.37 billion in 2016.

The company noted that the full-year 2017 results include net after-tax charges of $290 million from special items, and the full-year net earnings from continuing operations amounted to $872 million, or $1.15 cents per diluted share, compared to net earnings from continuing operations before special items of $534 million for the full year 2016.

The S&P Capital IQ consensus EPS estimate for the fourth quarter and full year was 35 cents and $1.18, respectively.

Adjusted EBITDA for the fourth quarter and full year 2017 was $551 million and $2.08 billion, respectively.