Weyerhaeuser Co. Earnings Cheat Sheet: Beats Analyst Estimates

S&P 500 (NYSE:SPY) component Weyerhaeuser Co. (NYSE:WY) reported its results for the third quarter. Weyerhaeuser is a forest products company, which mainly grows and harvests trees, builds homes, and makes a range of forest products.

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Weyerhaeuser Earnings Cheat Sheet for the Third Quarter

Results: Reported a profit of $157 million (39 cents per diluted share) in the quarter versus a profit of $1.1 billion ($3.50 per diluted share) in the year-ago quarter

Actual vs. Wall St. Expectations: WY beat the mean analyst estimate of 11 cents per share.

Quoting Management: “All of our businesses faced challenging markets in the third quarter, as the U.S. housing market languished and we experienced a slowdown in demand from China,” said Dan Fulton, president and chief executive officer. “We remain focused on improving performance with today’s level of demand, while being prepared to flex all of our operations as markets improve.”

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the fourth quarter is 8 cents per share, down from 14 cents ninety days ago. At 30 cents per share, the average estimate for the fiscal year has fallen from 43 cents ninety days ago.

Competitors to Watch: Universal Forest Products, Inc. (NASDAQ:UFPI), Deltic Timber Corporation (NYSE:DEL), Canfor Corporation (AMEX:CFP), Rougier SA (NYSE:RGR).

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(Source: Xignite Financials)