Weyerhaeuser Q3 2024 Results Show Sales Dip

TL;DR

WEYERHAEUSER Q3 SALES DOWN YOY. TIMBERLANDS & WOOD PRODUCTS SEGMENTS DETAILED.

AI Summary

Weyerhaeuser Co. reported its third-quarter 2024 results, with net sales for the three months ended September 30, 2024, showing a decrease compared to the same period in 2023. The company's financial statements reflect changes in accumulated other comprehensive income and retained earnings as of September 30, 2024, compared to June 30, 2024. Specific segment data for Timberlands and Wood Products for the nine months ended September 30, 2024, and 2023, are also detailed.

Why It Matters

This filing provides insight into Weyerhaeuser's recent financial performance, which can impact investor confidence and the broader real estate and construction sectors.

Risk Assessment

Risk Level: medium — The filing details financial performance and segment data, which can indicate market trends and company health, but lacks forward-looking guidance or significant new risk disclosures.

Key Numbers

• Q3 2024 — Reporting Period (Third quarter of 2024)
• Q3 2023 — Prior Period (Third quarter of 2023)
• September 30, 2024 — Balance Sheet Date (End of the reporting period)
• June 30, 2024 — Prior Balance Sheet Date (Previous quarter end date)

Key Players & Entities

• WEYERHAEUSER CO (company) — Filer
• 20240930 (date) — Reporting Period End Date
• 20241025 (date) — Filing Date
• 206-539-3000 (phone_number) — Business Phone
• SEATTLE (location) — Business Address City
• WA (location) — Business Address State
• 98104 (zip_code) — Business Address Zip

FAQ

Key Financial Figures

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

Filing Documents

• wy-20240930.htm (10-Q) — 2916KB
• wy-ex31.htm (EX-31) — 16KB
• wy-ex31_2.htm (EX-31.2) — 16KB
• wy-ex32.htm (EX-32) — 12KB
• 0000950170-24-117425.txt ( ) — 9077KB
• wy-20240930.xsd (EX-101.SCH) — 810KB
• wy-20240930_htm.xml (XML) — 1776KB

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 28 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 28 PART II OTHER INFORMATION ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 28 ITEM 1A.

RISK FACTORS

RISK FACTORS 29 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 29 ITEM 3. DEFAULTS UPON SENIOR SECURITIES – NOT APPLICABLE ITEM 4. MINE SAFETY DISCLOSURES – NOT APPLICABLE ITEM 5. OTHER INFORMATION 29 ITEM 6. EXHIBITS 30

– 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 SEPTEMBER 2024 SEPTEMBER 2023 SEPTEMBER 2024 SEPTEMBER 2023 Net sales (Note 3) $ 1,681 $ 2,022 $ 5,416 $ 5,900 Costs of sales 1,431 1,520 4,407 4,560 Gross margin 250 502 1,009 1,340 Selling expenses 22 22 66 66 General and administrative expenses 122 107 358 316 Other operating costs, net (Note 13) 28 20 41 50 Operating income 78 353 544 908 Non-operating pension and other post-employment benefit costs (Note 6) ( 10 ) ( 12 ) ( 31 ) ( 33 ) Interest income and other 14 24 43 54 Interest expense, net of capitalized interest ( 69 ) ( 72 ) ( 203 ) ( 208 ) Earnings before income taxes 13 293 353 721 Income taxes (Note 14) 15 ( 54 ) ( 38 ) ( 101 ) Net earnings $ 28 $ 239 $ 315 $ 620 Earnings per share, basic and diluted (Note 4) $ 0.04 $ 0.33 $ 0.43 $ 0.85 Weighted average shares outstanding (in thousands) (Note 4): Basic 727,621 731,046 728,892 732,069 Diluted 728,180 731,742 729,355 732,542 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 SEPTEMBER 2024 SEPTEMBER 2023 SEPTEMBER 2024 SEPTEMBER 2023 Net earnings $ 28 $ 239 $ 315 $ 620 Other comprehensive income: Foreign currency translation adjustments 6 ( 7 ) ( 8 ) — Changes in unamortized actuarial loss, net of tax expense of $ 3 , $ 3 , $ 9 and $ 7 6 9 21 23 Changes in unamortized net prior service credit, net of tax benefit of $ 0 , $ 0 , $ 0 and $ 1 1 — 1 1 Total other comprehensi

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) FOR THE QUARTERS AND YEAR-TO-DATE PERIODS ENDED SEPTEMBER 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

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 September 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 $ 80 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 SEPTEMBER 2024 SEPTEMBER 2023 SEPTEMBER 2024 SEPTEMBER 2023 Pension (1) Balance at beginning of period $ ( 498 ) $ ( 444 ) $ ( 515 ) $ ( 458 ) Other comprehensive loss before reclassifications ( 1 ) — — ( 1 ) Amounts reclassified from accumulated other comprehensive loss to earnings (2) 9 9 25 24 Total other comprehensive income 8 9 25 23 Balance at end of period $ ( 490 ) $ ( 435 ) $ ( 490 ) $ ( 435 ) Other post-employment benefits (1) Balance at beginning of period $ 22 $ 21 $ 24 $ 20 Other comprehensive loss before reclassifications — ( 1

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