Weyerhaeuser Reports Second Quarter 2025 Results

Generated net earnings of $87 million, or $0.12 per diluted share

Achieved Adjusted EBITDA of $336 million

Completed approximately $125 million of share repurchase in first half 2025

Completed prior $1 billion share repurchase program and announced new $1 billion authorization in second quarter 2025

Announced agreements to acquire high-quality timberlands in North Carolina and Virginia and sell Princeton lumber mill in British Columbia

Weyerhaeuser Company reported second quarter net earnings of $87 million, or 12 cents per diluted share, on net sales of $1.9 billion. This compares with net earnings of $173 million, or 24 cents per diluted share, on net sales of $1.9 billion for the same period last year and net earnings of $83 million for first quarter 2025. There were no special items in second quarter 2025 or first quarter 2025. Net earnings before special items was $154 million for second quarter 2024. Adjusted EBITDA for second quarter 2025 was $336 million, compared with $410 million for the same period last year and $328 million for first quarter 2025.

“Our teams delivered solid operating performance in the second quarter,” said Devin W. Stockfish, president and chief executive officer. “Notwithstanding the challenging market backdrop, we continue to demonstrate our commitment to returning meaningful amounts of cash back to shareholders, while also capitalizing on strategic portfolio optimization opportunities. Notably, we significantly increased our share repurchase activity in the second quarter and we continue to enhance the value of our timberlands portfolio with high-quality and strategically located acreage. Looking forward, we are well positioned to navigate a range of market conditions in the near term, and we remain confident in the longer-term demand fundamentals that support our businesses. Our balance sheet is strong, and we continue to focus on driving operational excellence, serving customers, enhancing our unmatched portfolio, and creating long-term value for our shareholders through our disciplined and flexible capital allocation framework.”

Timberlands

Financial Highlights

Q2 2025 Performance – In the West, fee harvest and sales volumes were comparable to the first quarter. Sales realizations were comparable overall, as moderately higher export realizations for Japan were offset by slightly lower domestic realizations. Per unit log and haul costs and forestry and road costs were seasonally higher. In the South, fee harvest volumes and sales realizations were slightly higher than the first quarter. Per unit log and haul costs were moderately higher, and forestry and road costs were slightly lower.

Q3 2025 Outlook – Weyerhaeuser anticipates third quarter earnings before special items and Adjusted EBITDA will be approximately $10 million lower than the second quarter. In the West, the company expects slightly higher fee harvest volumes, higher per unit log and haul costs, seasonally higher forestry and road costs, and moderately lower sales realizations, primarily for domestic logs. In the South, the company anticipates slightly higher fee harvest volumes, comparable per unit log and haul costs, higher forestry and road costs, and slightly lower sales realizations due to mix.

Real Estate, Energy & Natural Resources

Financial Highlights

Q2 2025 Performance – Earnings and Adjusted EBITDA increased significantly from the first quarter due to the timing and mix of real estate sales. The number of acres sold and average price per acre were significantly higher, and basis as a percentage of real estate sales was lower.

Q3 2025 Outlook – Weyerhaeuser anticipates third quarter earnings before special items will be approximately $60 million lower than the second quarter and Adjusted EBITDA will be approximately $80 million lower than the second quarter due to the timing and mix of real estate sales. The company continues to expect full year 2025 Adjusted EBITDA of $350 million and basis as a percentage of real estate sales to be 30 to 40 percent for the full year.

Wood Products

Financial Highlights

Q2 2025 Performance – Sales realizations for lumber and oriented strand board decreased 2 percent and 12 percent, respectively, compared with first quarter averages. For lumber, sales volumes were higher, unit manufacturing costs were comparable, and log costs were slightly higher. For oriented strand board, sales volumes and fiber costs were slightly higher, and unit manufacturing costs were higher due to an increase in downtime for planned annual maintenance. For engineered wood products, sales volumes were higher for all products, raw material costs were slightly lower, and unit manufacturing costs were lower, primarily driven by increased production of medium density fiberboard following a temporary operational disruption in the first quarter. Sales realizations were lower for most engineered wood products. Distribution results were lower than the first quarter, as seasonally higher sales volumes were offset by lower pricing for commodity and engineered wood products.

Q3 2025 Outlook – Weyerhaeuser anticipates third quarter earnings before special items and Adjusted EBITDA will be comparable to the second quarter, excluding the effect of changes in average sales realizations for lumber and oriented strand board. For lumber and oriented strand board, the company expects sales volumes and unit manufacturing costs to be comparable to the second quarter and log and fiber costs to be slightly lower. For engineered wood products, the company expects lower sales volumes, slightly lower sales realizations, and lower raw material costs, primarily for oriented strand board webstock. Distribution results are expected to be comparable to the second quarter.

For full results click here.

About Weyerhaeuser

Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900 and today owns or controls approximately 10.5 million acres of timberlands in the U.S., as well as additional public timberlands managed under long-term licenses in Canada. Weyerhaeuser has been a global leader in sustainability for more than a century and manages 100 percent of its timberlands on a fully sustainable basis in compliance with internationally recognized sustainable forestry standards. Weyerhaeuser is also one of the largest manufacturers of wood products in North America and operates additional business lines around real estate, climate solutions, energy and natural resources, among others. In 2023, the company generated $7.7 billion in net sales and employed approximately 9,300 people who serve customers worldwide. Operated as a real estate investment trust, Weyerhaeuser’s common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.

Contact:

Nancy Thompson – Media Contact – nancy.thompson@wy.com – (919) 861-0342

Source: Weyerhaeuser Company