Weyerhaeuser Files Q2 2024 10-Q

TL;DR

WEYERHAEUSER 10-Q FILED: Q2 2024 RESULTS ARE IN. CHECK THE NUMBERS.

AI Summary

Weyerhaeuser Co. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance across its Timberlands and Wood Products segments. Specific figures for revenue, expenses, and net income for the second quarter and first half of 2024 are provided, alongside comparative data from 2023.

Why It Matters

This filing provides investors with the official financial results for Weyerhaeuser's second quarter of 2024, offering insights into the company's operational performance and financial health.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing that provides standard disclosures.

Key Numbers

• 20240630 — Period End Date (The 10-Q covers financial data up to this date.)
• 20240726 — Filing Date (The date the report was officially submitted to the SEC.)

Key Players & Entities

• WEYERHAEUSER CO (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240726 (date) — Filing date
• SEATTLE (location) — Company headquarters city
• WA (location) — Company headquarters state

FAQ

Key Financial Figures

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

Filing Documents

• wy-20240630.htm (10-Q) — 2856KB
• wy-ex31.htm (EX-31) — 16KB
• wy-ex31_2.htm (EX-31.2) — 16KB
• wy-ex32.htm (EX-32) — 12KB
• 0000950170-24-086899.txt ( ) — 8723KB
• wy-20240630.xsd (EX-101.SCH) — 779KB
• wy-20240630_htm.xml (XML) — 1722KB

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 27 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 27 PART II OTHER INFORMATION ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 27 ITEM 1A.

RISK FACTORS

RISK FACTORS 27 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 28 ITEM 3. DEFAULTS UPON SENIOR SECURITIES – NOT APPLICABLE ITEM 4. MINE SAFETY DISCLOSURES – NOT APPLICABLE ITEM 5. OTHER INFORMATION 28 ITEM 6. EXHIBITS 29

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS WEYERHAEUSER COMPANY CONSOLIDATED STATEM ENT OF OPERATIONS (UNAUDITED) QUARTER ENDED YEAR-TO-DATE ENDED DOLLAR AMOUNTS IN MILLIONS, EXCEPT PER-SHARE FIGURES JUNE 2024 JUNE 2023 JUNE 2024 JUNE 2023 Net sales (Note 3) $ 1,939 $ 1,997 $ 3,735 $ 3,878 Costs of sales 1,535 1,528 2,976 3,040 Gross margin 404 469 759 838 Selling expenses 22 22 44 44 General and administrative expenses 116 108 236 209 Other operating (income) costs, net (Note 13) ( 4 ) 20 13 30 Operating income 270 319 466 555 Non-operating pension and other post-employment benefit costs (Note 6) ( 10 ) ( 12 ) ( 21 ) ( 21 ) Interest income and other 13 18 29 30 Interest expense, net of capitalized interest ( 67 ) ( 70 ) ( 134 ) ( 136 ) Earnings before income taxes 206 255 340 428 Income taxes (Note 14) ( 33 ) ( 25 ) ( 53 ) ( 47 ) Net earnings $ 173 $ 230 $ 287 $ 381 Earnings per share, basic and diluted (Note 4) $ 0.24 $ 0.31 $ 0.39 $ 0.52 Weighted average shares outstanding (in thousands) (Note 4): Basic 729,026 732,021 729,534 732,599 Diluted 729,341 732,362 729,950 732,961 See accompanying Notes to Consolidated Financial Statements . 1 WEYERHAEUSER COMPANY CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (UNAUDITED) QUARTER ENDED YEAR-TO-DATE ENDED DOLLAR AMOUNTS IN MILLIONS JUNE 2024 JUNE 2023 JUNE 2024 JUNE 2023 Net earnings $ 173 $ 230 $ 287 $ 381 Other comprehensive income: Foreign currency translation adjustments ( 5 ) 7 ( 14 ) 7 Changes in unamortized actuarial loss, net of tax expense of $ 2 , $ 2 , $ 6 and $ 4 7 7 15 14 Changes in unamortized net prior service credit, net of tax benefit of $ 0 , $ 1 , $ 0 and $ 1 — 1 — 1 Total other comprehensive income 2 15

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) FOR THE QUARTERS AND YEAR-TO-DATE PERIODS ENDED JUNE 30, 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 high

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 June 30, 2024, our total accrual for future estimated remediation costs on active Superfund sites and other sites for which we are potentially responsible was approximately $ 79 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 YEAR-TO-DATE ENDED DOLLAR AMOUNTS IN MILLIONS JUNE 2024 JUNE 2023 JUNE 2024 JUNE 2023 Pension (1) Balance at beginning of period $ ( 506 ) $ ( 451 ) $ ( 515 ) $ ( 458 ) Other comprehensive (loss) income before reclassifications — ( 2 ) 1 ( 1 ) Amounts reclassified from accumulated other comprehensive loss to earnings (2) 8 9 16 15 Total other comprehensive income 8 7 17 14 Balance at end of period $ ( 498 ) $ ( 444 ) $ ( 498 ) $ ( 444 ) Other post-employment benefits (1) Balance at beginning of period $ 23 $ 20 $ 24 $ 20 Other comprehensive (loss) income before reclassifications ( 1 ) 1 (

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