Weyerhaeuser reports Q2 EPS 12c, consensus 9c

Reports Q2 revenue $1.88B, consensus $1.84B. “Our teams delivered solid operating performance in the second quarter,” said Devin Stockfish, president and CEO. “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.”