Weyerhaeuser posts a strong 2013
Federal Way, Wash.-based Weyerhaeuser posted net earnings of $540 million for the full year 2013, up from $385 million in 2012.
Net sales for the year were $8.5 billion, up from $7.1 billion in 2012.
The company noted that in 2013 it doubled earnings before special items, increased its per share dividend by nearly 30% and announced a deal to combine its real estate operation with TRI Pointe Homes. It also acquired about 645,000 acres of timberlands in the Pacific Northwest through the purchase of Longview Timber.
"As 2014 begins, we are relentlessly focused on driving operational excellence to fully capitalize on improving markets and deliver value to our shareholders," said President and CEO Doyle Simons.
In the fourth quarter, Weyerhaeuser's net sales were $2.26 billion, up from $2.00 billion in the same quarter last year. Fourth quarter net earnings declined from $143 million in last year's quarter, to $43 million.