WeyerhaeuserNYSE: WY

Webcast and conference call on July 26 at 7 a.m. PT (10 a.m.

SEATTLE , May 21, 2024 /PRNewswire/ -- Devin W. Stockfish, president and chief executive officer, and David M.

Weyerhaeuser's (WY) first-quarter 2024 results show a decline in fee harvest volumes, reduced domestic sales volumes, and increased lumber manufacturing and raw materials expenses.

Although the financial results of Weyerhaeuser (WY) for the quarter ending March 2024 provide an overview of the company's performance, it may be beneficial to examine how certain key indicators stack up against analyst expectations and previous year figures.

Weyerhaeuser (WY) reported quarterly earnings of $0.16 per share, exceeding the Zacks Consensus Estimate of $0.15 per share. This is lower than the earnings of $0.21 per share from the previous year.

Weyerhaeuser (WY) is set to gain from more capital inflows for carbon/ESG-related projects, operational excellence and housing improvement. Yet, high costs and lumber market swing hurt.

Timber pricing in the U.S. has not kept up with inflation due to oversupply, while lumber prices have risen significantly. Timber REITs have seen weak profitability from timber segments, but strong profit margins from wood products. The timber and timberland sector is transitioning from a decade of oversupply to long-term undersupply, driven by new sources of demand such as solar conversions and carbon capture.

Weyerhaeuser (WY) enters into an exclusive carbon sequestration exploration agreement with Lapis Energy for two years to focus on its climate solutions portfolio.

Weyerhaeuser (WY) partners with Be Pro Be Proud, an initiative led by ASCC/AIA, to educate students on the available work opportunities in forestry and the forest products industry.