Weyerhaeuser Q4 Earnings And Revenues Miss Estimates

Weyerhaeuser Company (WY - Analyst Report) reported lower-than-expected bottom and top line results for fourth-quarter 2014. Adjusted earnings came in at 27 cents per share, increasing 42.1% year over year from 19 cents in the year-ago quarter. However, the bottom line failed to meet the Zacks Consensus Estimate of 28 cents.

The year-over-year improvement can be attributed to a 10.2% decline in share count due to the company’s ongoing share buyback activities.

Including one-time restructuring, impairment and other charges of 1 cent and gain on post retirement plan amendment of 5 cents, Generally Accepted Accounting Principles (“GAAP”) earnings in the quarter were 31 cents per share.   

For 2014, Weyerhaeuser reported adjusted earnings of $1.25 per share, up compared with the year-ago tally of 99 cents per share, but below the Zacks Consensus Estimate of $1.30.

Revenues

Weyerhaeuser’s net sales in the quarter inched up 1.1% year over year to $1,788 million. However, the top line lagged the Zacks Consensus Estimate of $1,809 million.

Weyerhaeuser reports its revenues under the following segments:

Revenues from the Timberland segment fell 1.4% year over year to $359 million. It accounted for 20% of net sales.

The Wood Products segment generated revenues of $947 million, up 2.3% year over year and accounting for 53% of net sales.

The Cellulose Fibers segment’s revenues rose 0.8% year over year to $482 million, representing 27% of net sales.

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