CSX Corp. (NASDAQ: CSX) today announced fourth quarter 2022 operating income of $1.46 billion compared to $1.37 billion in fourth quarter 2021. Net earnings of $1.02 billion, or $0.49 per share, compared to $934 million, or $0.42 per share, in the same period last year. For the full year 2022, CSX operating income of $6.0 […]
The Home Depot Quadruples Commitment to Historically Black Colleges and Universities
The Home Depot® will increase its investment in Historically Black Colleges and Universities (“HBCUs”) to $4 million in 2023 by launching an expanded range of community projects and career resources for students in its Retool Your School program. Half of The Home Depot’s increased commitment will prepare HBCU students to thrive in their future careers with new […]
Madison’s Reporter: Some Lumber Specialty Item Prices Increase
As January 2023 got going, while hardly a big rush, there was an increase in sales — and therefore prices — of several specialty lumber items. Even benchmark WSPF 2x4s popped up a little bit, although more due to significant supply being taken offline than growing demand. There were inklings, however, that customers are making […]
NAHB: Building Materials Price Growth Slowed 60% in 2022
The producer price index (“PPI”) for inputs to residential construction less energy (i.e., building materials) rose 8.3% in 2022 (not seasonally adjusted) according to the latest PPI report — less than one-half the increase seen in 2021. On a monthly basis, building materials prices declined 0.3% in December — the fourth consecutive monthly decrease. After increasing an […]
Westlake Ace Hardware Announces Promotions
Westlake Ace Hardware recently announced the promotions of Laura Byrne-Harris to vice president of merchandising and marketing, and Jennifer Schadegg to director of merchandising. Laura Byrne-Harris In her new role, Byrne-Harris oversees development of merchandising strategy, brand marketing and store planning for Westlake Ace. Harris joined Westlake Ace in 2011 as director of merchandising for the […]
International Paper Reaches Agreement to Sell Ownership Interest in Ilim Joint Venture
International Paper (or the “Company”) announced that it has entered into an agreement to sell its 50% interest in Ilim SA, the holding company for its Ilim joint venture (“JV”), to its JV partners for $484MM (USD) equity value. The sale is subject to regulatory approvals in Russia. This transaction indicates ~$3.5 billion in total enterprise […]
U.S. Lumber Coalition Supports U.S. Department of Commerce’s Continued Trade Law Enforcement Against Unfairly Traded and Harmful Canadian Lumber Imports
The U.S. Department of Commerce today announced the preliminary determination of a combined anti-subsidy and anti-dumping duty rate of 8.24% in the fourth annual review of unfairly traded Canadian softwood lumber imports into the United States. The review covers lumber imported in calendar year 2021. “Continued enforcement of U.S. trade laws against unfairly traded Canadian […]
Millwood Adds Second Repair Operation in New Jersey
Millwood, Inc. added a second New Jersey-based pallet repair location in Barrington, NJ. The new location is about an hour southwest of our pallet repair location in South River, NJ and is Millwood’s 37th location nationwide. “The opportunity to expand in New Jersey allows us to grow the Millwood family and have a further impact […]
HS Timber Group GmbH Announces Divesture of PelletsOne GmbH
HS Timber Group GmbH (“HS Timber Group”) announces the sale of PelletsOne GmbH (“PelletsOne”) to RWA Raiffeisen Ware Austria AG. The closing for the purchase was completed on 20 January, 2023 following approval by the relevant competition authority. The parties agreed not to disclose the contractual details. PelletsOne is a direct sales company for pellets […]
Period-End Comment From Setra for Q4 2022
Wood products company Setra has reported an operating loss of SEK -69 million (369) for the fourth quarter of 2022. Net sales totalled SEK 1,395 million (1,563). “The wood products market continued to weaken during Q4 in terms of the general price level, while demand improved, which reduced our stocks to a normal level. However, […]