Weyerhaeuser Co. (WY) Misses Q2 EPS by 3c

Weyerhaeuser Co. (NYSE: WY) reported Q2 EPS of $0.06, $0.03 worse than the analyst estimate of $0.09. Revenue for the quarter came in at $1.77 billion versus the consensus estimate of $1.75 billion.

Weyerhaeuser expects significantly lower earnings from the Timberlands segment in the third quarter. The company anticipates lower selling prices and harvest volumes in the West and seasonally higher silviculture and road expenses. The company also expects reduced earnings from dispositions of non-strategic timberlands.

In Wood Products, excluding the hardwoods transaction, Weyerhaeuser anticipates a comparable loss from the segment in the third quarter. The company expects lower selling prices for lumber and oriented strand board and lower sales volumes across most product lines, offset by lower log costs and modest cost improvements.

Weyerhaeuser expects significantly higher earnings from the Cellulose Fibers segment in the third quarter. The company anticipates substantially lower maintenance costs and increased production, partially offset by lower selling prices for pulp.

Weyerhaeuser anticipates slightly higher earnings from single-family homebuilding operations in the third quarter due to a seasonal increase in home sale closings.

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