Weyerhaeuser Co. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Weyerhaeuser Co. filed its Q1 2024 10-Q report, detailing segment performance and financial data.</b>

AI Summary

WEYERHAEUSER CO (WY) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. Weyerhaeuser Co. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key segments discussed include Timberlands, Wood Products, and Real Estate, Energy & Natural Resources (REÉN R). The report details various financial statement items and segment performance data. Specific dates related to stock programs and financial reporting periods are noted.

Why It Matters

For investors and stakeholders tracking WEYERHAEUSER CO, this filing contains several important signals. This 10-Q provides investors with the latest financial performance and operational details for Weyerhaeuser Co. in the first quarter of 2024. Understanding the segment performance (Timberlands, Wood Products, REÉN R) is crucial for assessing the company's revenue streams and profitability drivers.

Risk Assessment

Risk Level: medium — WEYERHAEUSER CO shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which inherently carries medium risk due to the dynamic nature of the real estate and timber industries, subject to market fluctuations and regulatory changes.

Analyst Insight

Monitor Weyerhaeuser's segment performance, particularly in Wood Products and Timberlands, for insights into market demand and pricing trends in the construction and real estate sectors.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed period of report)
• 2024-04-26 — Filing Date (Filed as of date)
• 2024-01-01 — Q1 2024 Start Date (Reporting period for Q1 2024)
• 2023-03-31 — Q1 2023 End Date (Comparative period)

Key Players & Entities

• WEYERHAEUSER CO (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-04-26 (date) — Filed as of date
• 0000106535 (company) — Central Index Key
• WA (location) — State of incorporation
• 206-539-3000 (phone) — Business phone
• REÉN R (segment) — Operating segment
• Wood Products (segment) — Operating segment

FAQ

Risk Factors

• Market Fluctuations [high — market]: The company's financial performance is significantly impacted by fluctuations in the prices of timber, logs, and wood products, as well as demand in the housing and construction markets.
• Environmental Regulations [medium — regulatory]: Operations are subject to extensive federal, state, and local environmental regulations, which can affect costs and operational flexibility.
• Timber Harvesting and Supply Chain [medium — operational]: Disruptions in timber harvesting, transportation, or supply chain logistics can impact the availability and cost of raw materials and finished goods.

Key Financial Figures

• $1.25 — ch registered Common Stock, par value $1.25 per share WY New York Stock Exchang

Filing Documents

• wy-20240331.htm (10-Q) — 1771KB
• wy-ex31.htm (EX-31) — 15KB
• wy-ex31_2.htm (EX-31.2) — 15KB
• wy-ex32.htm (EX-32) — 12KB
• 0000950170-24-049224.txt (&nbsp;) — 6387KB
• wy-20240331.xsd (EX-101.SCH) — 740KB
• wy-20240331_htm.xml (XML) — 1087KB

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS: CONSOLIDATED STATEMENT OF OPERATIONS 1 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 2 CONSOLIDATED BALANCE SHEET 3 CONSOLIDATED STATEMENT OF CASH FLOWS 4 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 5 INDEX FOR NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 6

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 7 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (MD&A)

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (MD&A) 14 ITEM 3.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 24 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 25 PART II OTHER INFORMATION ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 25 ITEM 1A.

RISK FACTORS

RISK FACTORS 25 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 25 ITEM 3. DEFAULTS UPON SENIOR SECURITIES – NOT APPLICABLE ITEM 4. MINE SAFETY DISCLOSURES – NOT APPLICABLE ITEM 5. OTHER INFORMATION 26 ITEM 6. EXHIBITS 27

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS WEYERHAEUSER COMPANY CONSOLIDATED STATEM ENT OF OPERATIONS (UNAUDITED) QUARTER ENDED DOLLAR AMOUNTS IN MILLIONS, EXCEPT PER-SHARE FIGURES MARCH 2024 MARCH 2023 Net sales (Note 3) $ 1,796 $ 1,881 Costs of sales 1,441 1,512 Gross margin 355 369 Selling expenses 22 22 General and administrative expenses 120 101 Other operating costs, net (Note 13) 17 10 Operating income 196 236 Non-operating pension and other post-employment benefit costs (Note 6) ( 11 ) ( 9 ) Interest income and other 16 12 Interest expense, net of capitalized interest ( 67 ) ( 66 ) Earnings before income taxes 134 173 Income taxes (Note 14) ( 20 ) ( 22 ) Net earnings $ 114 $ 151 Earnings per share, basic and diluted (Note 4) $ 0.16 $ 0.21 Weighted average shares outstanding (in thousands) (Note 4): Basic 730,043 733,163 Diluted 730,558 733,546 See accompanying Notes to Consolidated Financial Statements . 1 WEYERHAEUSER COMPANY CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) QUARTER ENDED DOLLAR AMOUNTS IN MILLIONS MARCH 2024 MARCH 2023 Net earnings $ 114 $ 151 Other comprehensive (loss) income: Foreign currency translation adjustments ( 9 ) — Changes in unamortized actuarial loss, net of tax expense of $ 4 and $ 2 8 7 Total other comprehensive (loss) income ( 1 ) 7 Total comprehensive income $ 113 $ 158 See accompanying Notes to Consolidated Financial Statements . 2 WEYERHAEUSER COMPANY CONSOLIDATED BALANCE SHEET (UNAUD ITED) DOLLAR AMOUNTS IN MILLIONS, EXCEPT PAR VALUE MARCH 31, 2024 DECEMBER 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 871 $ 1,164 Receivables, net 405 354 Receivables for taxes 13 10 Inventories (Note 5) 630 566 Prepaid expenses and other current assets 192 219 Total current asse

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) FOR THE QUARTERS ENDED MARCH 31, 2024 AND 2023 NOTE 1: BASIS O F PRESENTATION Our consolidated financial statements provide an overall view of our results of operations, financial condition and cash flows. They include our accounts and the accounts of entities we control, including majority-owned domestic and foreign subsidiaries. They do not include our intercompany transactions and accounts, which are eliminated. Throughout these Notes to Consolidated Financial Statements, unless specified otherwise, references to "Weyerhaeuser," "the company," "we" and "our" refer to the consolidated company. The accompanying unaudited Consolidated Financial Statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of our financial position, results of operations and cash flows for the interim periods presented. Except as otherwise disclosed in these Notes to Consolidated Financial Statements, such adjustments are of a normal, recurring nature. The Consolidated Financial Statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission pertaining to interim financial statements. Certain information and footnote disclosures normally included in our annual Consolidated Financial Statements have been condensed or omitted. These quarterly Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the year ended December 31, 2023 . Results of operations for interim periods should not necessarily be regarded as indicative of the results that may be expected for the full year. NOTE 2: BUSIN ESS SEGMENTS We are principally engaged in growing and harvesting timber; maximizing the value of our acreage through the sale of higher and better use (HBU)

Legal Proceedings

Legal Proceedings We are party to various legal proceedings arising in the ordinary course of business. We are not currently a party to any legal proceeding that management believes could have a material adverse effect on our Consolidated Statement of Operations , Consolidated Balance Sheet or Consolidated Statement of Cash Flows . Environmental Matters Site Remediation Under the federal Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) – commonly known as the "Superfund" – and similar state laws, we: are a party to various proceedings related to the cleanup of hazardous waste sites and have been notified that we may be a potentially responsible party related to the cleanup of other hazardous waste sites for which proceedings have not yet been initiated. As of March 31, 2024, our total accrual for future estimated remediation costs on active Superfund sites and other sites for which we are potentially responsible was approximately $ 76 million. These amounts are recorded in "Accrued liabilities" and "Other liabilities" on our Consolidated Balance Sheet . 11 NOTE 11: ACCUMULATED OT HER COMPREHENSIVE LOSS Changes in amounts included in our accumulated other comprehensive loss by component are: QUARTER ENDED DOLLAR AMOUNTS IN MILLIONS MARCH 2024 MARCH 2023 Pension (1) Balance at beginning of period $ ( 515 ) $ ( 458 ) Other comprehensive income before reclassifications 1 1 Amounts reclassified from accumulated other comprehensive loss to earnings (2) 8 6 Total other comprehensive income 9 7 Balance at end of period $ ( 506 ) $ ( 451 ) Other post-employment benefits (1) Balance at beginning of period $ 24 $ 20 Other comprehensive loss before reclassifications ( 2 ) — Amounts reclassified from accumulated other comprehensive loss to earnings (2) 1 — Total other comprehensive loss ( 1 ) — Balance at end of period $ 23 $ 20 T

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