Weyerhaeuser Q2 Sales, Adjusted EPS Beat Estimates on Higher Lumber Prices
WY is trading near its 52-week low of $21.155 (12% above the low).
Summary
Weyerhaeuser delivered a strong Q2, with sales of $1.87B beating the $1.83B consensus and adjusted EPS of $0.13 topping the $0.09 estimate. The beat was driven by higher lumber and western log prices, and results included a $71M after-tax gain from the sale of non-core Oregon timberlands. The company also topped quarterly profit estimates and forecast higher timberlands earnings. This follows a lowered Q2 outlook in late June, making the upside surprise more significant. The company cited ongoing macro uncertainty but noted improving pricing trends. With shares trading at $23.77, the results support the bullish analyst consensus and a median $30 price target.
At the time of this announcement, WY was trading at $23.77 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $16.9B. The 52-week trading range was $21.16 to $27.75. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.