By Emon Reiser
Weyerhaeuser reported a drop in profit and revenue amid the backdrop of a challenging market.
The Seattle-based company, one of the largest lumber producers in the country, on Thursday reported a profit for the fourth quarter of $81 million, or 11 cents a share, compared with $219 million, or 30 cents a share in the year-ago quarter. Analysts polled by FactSet expected fourth-quarter earnings of 7 cents per share.
Revenue fell 3.5% to $1.71 billion from $1.77 billion in the year-ago quarter. Analysts expected $1.72 billion.
"Entering 2025, our balance sheet is strong, and we are well positioned to capitalize as market conditions improve," Chief Executive Devin Stockfish said.
The company said it's on track to reach $100 million of adjusted earnings before interest, taxes, debt and amortization by year end.
Write to Emon Reiser at emon.reiser@wsj.com
(END) Dow Jones Newswires
January 30, 2025 17:18 ET (22:18 GMT)
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