Capital Spending BurdenPlanned increases in capital spending to support a new manufacturing facility and other projects will raise near-term cash commitments and could pressure free cash flow.
Housing Demand SensitivitySubdued housing demand is likely to limit recovery in timberlands and engineered wood product earnings, keeping overall momentum muted until construction activity improves.
Lumber Pricing RiskUncertainty about lumber and engineered wood pricing, and expectations that recent price momentum may fade, poses downside risk to Wood-segment earnings.