Weyerhaeuser Q4 Profit Declines On Charges, Weak Sales - Quick Facts

(RTTNews) - Weyerhaeuser Co (WY), a private owner of timberlands, reported Friday that its fourth-quarter net earnings attributable to common shareholders declined to $59 million or 11 cents per share from last year's $166 million or 31 cents per share.

The latest quarter results included net after-tax charges of $62 million from special items.

Net earnings before special items were $121 million or $0.24 per share, compared to $145 million or $0.27 per share in the prior year.

Net sales for the quarter were $1.73 billion, compared to $1.79 billion last year.

Looking ahead, for the first quarter, Weyerhaeuser expects comparable earnings from the Timberlands segment, higher earnings from the Wood Products segment, and significantly lower earnings from the Cellulose Fibers segment.

Doyle Simons, president and chief executive officer, said, "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."