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Weyerhaeuser reports Q4, full year 2015 results

Photo: Weyerhaeuser
Photo: Weyerhaeuser
Published by
Simon Matthis - 08 Feb 2016

Weyerhaeuser Company recently reported fourth quarter net earnings attributable to common shareholders of $59 million, or 11 cents per diluted share, on net sales of $1.7 billion. This compares with net earnings of $166 million, or 31 cents per diluted share, on net sales of $1.8 billion from continuing operations for the same period last year.

Earnings for the fourth quarter of 2015 include net after-tax charges of $62 million from special items. Excluding these items, the company reported net earnings of $121 million, or 24 cents per diluted share. This compares with net earnings from continuing operations before special items of $145 million, or 27 cents per diluted share for the same period last year.

For the full year 2015, Weyerhaeuser reported net earnings attributable to common shareholders of $462 million, or 89 cents per diluted share, on net sales of $7.1 billion. This compares with net earnings of $1.8 billion, or $3.18 per diluted share, on net sales from continuing operations of $7.4 billion for the same period last year. 2014 results included after-tax earnings of $998 million from discontinued operations, related to the divested Weyerhaeuser Real Estate Company.

Full year 2015 includes net after-tax charges of $71 million from special items. Excluding these items, the company reported net earnings of $533 million, or $1.04 per diluted share. This compares with net earnings from continuing operations before special items of $700 million, or $1.25 per diluted share, for the full year 2014.

"2015 was a milestone year for Weyerhaeuser, as we announced a transformational merger that will create the world's premier timber, land and forest products company," said Doyle R. Simons, president and chief executive officer. "At the same time, we maintained our relentless focus on improving our relative performance and delivered on our 2015 operational excellence targets. Finally, we fulfilled our commitment to return cash to shareholders through a 7 percent dividend increase and the repurchase of over $500 million of common shares. Looking forward to 2016, completion of our merger with Plum Creek, the strategic review of our Cellulose Fibers business, and our continued focus on operational excellence and disciplined capital allocation will position us to drive value for our shareholders."