Weyerhaeuser Reports First Quarter 2025 Results

Generated net earnings of $83 million, or $0.11 per diluted share

Achieved Adjusted EBITDA of $328 million, a 12 percent increase compared with fourth quarter 2024

Increased quarterly base dividend by 5 percent

Weyerhaeuser Company reported first quarter net earnings of $83 million, or 11 cents per diluted share, on net sales of $1.8 billion. This compares with net earnings of $114 million, or 16 cents per diluted share, on net sales of $1.8 billion for the same period last year and net earnings of $81 million for fourth quarter 2024. There were no special items in any comparative period. Adjusted EBITDA for first quarter 2025 was $328 million, compared with $352 million for the same period last year and $294 million for fourth quarter 2024.

“We delivered solid results across each of our businesses in the first quarter,” said Devin W. Stockfish, president and chief executive officer. “In addition, we increased our quarterly base dividend for the fourth consecutive year. I’m pleased with the organization’s performance, particularly in light of the uncertain macroeconomic backdrop. Turning to our outlook, we are well positioned to navigate a range of market conditions in the near term, and we remain confident about the longer-term demand fundamentals that support our businesses. Our balance sheet is strong, and we continue to focus on driving operational excellence, capitalizing on strategic opportunities, and creating long-term value for shareholders through our disciplined and flexible capital allocation framework.”

Timberlands

Financial Highlights

Q1 2025 Performance – In the West, fee harvest and domestic sales volumes were moderately higher than the fourth quarter. Domestic sales realizations were significantly higher, and export sales realizations were slightly higher. Export sales volumes were slightly lower overall, as significantly lower volumes to China were mostly offset by significantly higher volumes to Japan. Per unit log and haul costs and forestry and road costs were lower. In the South, fee harvest volumes, sales realizations and per unit log and haul costs were all comparable to the fourth quarter. Forestry and road costs were slightly higher.

Q2 2025 Outlook – Weyerhaeuser anticipates second quarter earnings before special items and Adjusted EBITDA will be approximately $15 million lower than the first quarter. In the West, the company expects slightly higher fee harvest volumes and per unit log and haul costs. Sales realizations are expected to be slightly lower due to mix. In the South, the company anticipates fee harvest volumes and per unit log and haul costs will be moderately higher, and sales realizations will be comparable. Forestry and road costs in the West and South are expected to be seasonally higher.

Real Estate, Energy & Natural Resources

Financial Highlights

Q1 2025 Performance – Earnings and Adjusted EBITDA increased from the fourth quarter due to the timing and mix of real estate sales. The average price per acre was significantly higher, basis as a percentage of real estate sales was lower, and the number of acres sold decreased.

Q2 2025 Outlook – Weyerhaeuser anticipates second quarter earnings before special items will be approximately $40 million higher than the first quarter and Adjusted EBITDA will be approximately $50 million higher than the first quarter due to the timing and mix of real estate sales. The company continues to expect full year 2025 Adjusted EBITDA of $350 million, and now expects basis as a percentage of real estate sales to be 30 to 40 percent for the full year.

Wood Products

Financial Highlights

Q1 2025 Performance – Sales realizations for lumber increased five percent while sales realizations for oriented strand board decreased one percent compared with fourth quarter averages. For lumber, sales volumes were slightly higher and unit manufacturing costs were slightly lower. Log costs were moderately higher, primarily for western logs. For oriented strand board, sales volumes were comparable, while unit manufacturing and fiber costs were slightly higher. For engineered wood products, sales realizations were comparable to slightly higher for most products. Sales volumes were lower, primarily for medium density fiberboard (MDF) and solid section products. Unit manufacturing costs increased, primarily for MDF, and raw material costs were higher. MDF sales volumes and unit manufacturing costs were affected by a multi-week operational disruption at the company’s Montana facility in the first quarter. For distribution, results were lower than the fourth quarter due to lower sales volumes.

Q2 2025 Outlook – Weyerhaeuser anticipates second quarter earnings before special items and Adjusted EBITDA will be slightly higher than the first quarter, excluding the effect of changes in average sales realizations for lumber and oriented strand board. For lumber, the company expects slightly higher sales volumes and log costs and comparable unit manufacturing costs. For oriented strand board, the company anticipates slightly higher sales volumes and fiber costs, and unit manufacturing costs are expected to be higher given an increase in planned downtime for annual maintenance. For engineered wood products, the company expects slightly higher sales volumes, comparable sales realizations, and lower raw material and unit manufacturing costs. For distribution, the company anticipates slightly higher results compared to the first quarter.

For full results click here.

About Weyerhaeuser

Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900 and today owns or controls approximately 10.5 million acres of timberlands in the U.S., as well as additional public timberlands managed under long-term licenses in Canada. Weyerhaeuser has been a global leader in sustainability for more than a century and manages 100 percent of its timberlands on a fully sustainable basis in compliance with internationally recognized sustainable forestry standards. Weyerhaeuser is also one of the largest manufacturers of wood products in North America and operates additional business lines around real estate, climate solutions, energy and natural resources, among others. In 2023, the company generated $7.7 billion in net sales and employed approximately 9,300 people who serve customers worldwide. Operated as a real estate investment trust, Weyerhaeuser’s common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.

Contact:

Nancy Thompson – Media Contact – nancy.thompson@wy.com – (919) 861-0342

Source: Weyerhaeuser Company