Weyerhaeuser: 4Q Earnings Snapshot
SEATTLE (AP) _ Weyerhaeuser Co. (WY) on Friday reported a fourth-quarter loss of $93 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Seattle-based company said it had a loss of 12 cents. Earnings, adjusted for non-recurring costs and pretax expenses, were 10 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 11 cents per share.
The timber and paper products company posted revenue of $1.64 billion in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $1.8 billion.
For the year, the company reported profit of $748 million, or 99 cents per share. Revenue was reported as $7.48 billion.
Weyerhaeuser shares have increased 20 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 8 percent. The stock has fallen 30 percent in the last 12 months.