Weyerhaeuser: 2Q Earnings Snapshot
SEATTLE (AP) _ Weyerhaeuser Co. (WY) on Friday reported second-quarter profit of $128 million.
The Seattle-based company said it had net income of 17 cents per share. Earnings, adjusted for non-recurring gains, came to 16 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The timber and paper products company posted revenue of $1.69 billion in the period.
Weyerhaeuser shares have increased 15% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. The stock has dropped 28% in the last 12 months.