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Review, Revise, Repeat: Biden Set To Restore Pre-Trump Regulations On Critical Habitat Designation - Environment
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Weyerhaeuser Announces $0 50 Interim Supplemental Dividend; New $1 Bln Share Buyback
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In northern Maine, forestry practices create shifting habitat for migrating songbirds
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Weyerhaeuser Co Q2 Income Climbs
FEDERAL WAY (dpa-AFX) - Weyerhaeuser Co (WY) released earnings for its second quarter that advanced from last year.
The company s bottom line totaled $681 million, or $0.91 per share. This compares with $77 million, or $0.11 per share, in last year s second quarter.
Analysts had expected the company to earn $1.38 per share, according to figures compiled by Thomson Reuters. Analysts estimates typically exclude special items.
The company s revenue for the quarter rose 92.6% to $3.14 billion from $1.63 billion last year.
Weyerhaeuser Co earnings at a glance:
-Earnings (Q2): $681 Mln. vs. $77 Mln. last year.
-EPS (Q2): $0.91 vs. $0.11 last year.
-Analysts Estimate: $1.38
-Revenue (Q2): $3.14 Bln vs. $1.63 Bln last year.
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Lumber firms notching record quarter
But, analysts expect prices to cool as renovations, do-it-yourself projects abate
by
MARCY NICHOLSON BLOOMBERG NEWS (WPNS)
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Today at 1:58 a.m.
Logs sit stacked at the Groupe Crete Inc. sawmill in Chertsey, Quebec, in this file photo. Lumber prices have cooled recently along with a decline in house renovations.
(Bloomberg WPNS/Christinne Muschi)
North American lumber producers are expected to post another quarter of record profits this week, but most attention will be on the outlook, with prices for wood products stumbling and do-it-yourself renovations slowing.
Producers are building and expanding sawmills in the southern U.S., where costs are low and timber is plentiful, while boosting output on expectations that the surge in home building will continue. Some analysts warn that an oversupply may be building up, even with bottlenecks and supply constraints in British Columbia, Canada s biggest lumber exporter to the U.S.