Weyerhaeuser Q4 Profit Falls; Results Miss Estimates - Quick Facts

(RTTNews) - Forest products company Weyerhaeuser Co. (WY) reported that its fourth-quarter of 2013 net earnings attributable to common shareholders declined sharply to $43 million or $0.07 per share, from $143 million or $0.26 per share in the same quarter last year. The latest-quarter result included after-tax charges of $114 million for special items.

Net earnings before special items for the latest-quarter were $157 million or $0.27 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.28 per share for the quarter. Analysts' estimates typically exclude special items. Net sales and revenues for the quarter rose to $2.256 billion from $2.000 billion in the prior year quarter. Ten analysts had consensus revenue estimate of $2.28 billion for the quarter.

Excluding dispositions of non-strategic timberlands, Weyerhaeuser anticipates significantly higher earnings from the Timberlands segment in the first quarter.

The company anticipates higher earnings from the Wood Products segment in the first quarter. The company expects higher average selling prices for lumber, seasonally higher sales volumes across most product lines and improved operating rates, partially offset by higher log costs and the effect of abnormally adverse weather.

The firm expects lower earnings from the Cellulose Fibers segment in the first quarter. The company anticipates slightly lower pulp sales volumes, increased maintenance expense and higher fiber and labor costs, partially offset by improved liquid packaging board realizations due to mix.

Weyerhaeuser anticipates a modest profit from single family homebuilding operations in the first quarter. Home closings should decline seasonally to approximately 600 homes. The company expects higher average closing prices, lower margins due to mix, and lower selling expenses due to the reduced closing volume.