Weyerhaeuser Q3 Profit Plunges On Absence Of Asset Sale Gain, Lower Sales

(RTTNews) - Weyerhaeuser Co (WY) reported Friday that its third-quarter net earnings to common shareholders of $180 million or $0.35 per share. This is compared to last year's $1.15 billion or $2.15 per share, which included after-tax gains of $975 million from discontinued operations and special items, primarily related to the divestiture of Weyerhaeuser Real Estate Company.

Before special items, last year's net earnings from continuing operations were $178 million or $0.33 per share.

Net sales for the third quarter 2015 totaled $1.82 billion, compared to $1.92 billion for the third quarter 2014.

Doyle Simons, president and chief executive officer said, "I am very pleased with our third quarter performance, as each of our businesses leveraged operational excellence improvements to drive strong results despite market and global macroeconomic headwinds."