Weyerhaeuser Co. Earnings Cheat Sheet: Profit Falls

S&P 500 (NYSE:SPY) component Weyerhaeuser Co. (NYSE:WY) reported its results for the fourth 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 Fourth Quarter

Results:Net income for Weyerhaeuser Co fell to $65 million (12 cents per share) vs. $171 million (32 cents per share) in the same quarter a year earlier. This marks a decline of 62% from the year earlier quarter.

Revenue:Fell 3% to $1.62 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: Weyerhaeuser Co reported adjusted net income of 14 cents per share. By that measure, the company beat the mean estimate of 6 cents per share.

Quoting Management: “In 2011 we took full advantage of opportunities to improve our performance in a weaker than expected US housing market,” said Dan Fulton, president and chief executive officer. “In Timberlands, we used our long term competitive strength in the Asian export markets to capitalize on emerging Chinese demand. Cellulose Fibers leveraged strong customer relationships and excellent operational performance to deliver a second consecutive year of record financial results. Our Real Estate business maintained profitability despite challenging market conditions, and Wood Products generated improved results. Through the sale of our hardwoods and Westwood Shipping Lines businesses we sharpened our strategic direction, and we remain focused on improving performance to generate superior sustainable returns for our shareholders in 2012.”

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the first quarter of the next fiscal year has moved down from 5 cents a share to 2 cents over the last sixty days. For the fiscal year, the average estimate has moved down from 28 cents a share to 25 cents over the last ninety days.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com