Weyerhaeuser’s Profit Slips, but Still Tops Expectations (WY)

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Forestry products maker Weyerhaeuser Company ( WY ) said Friday that its first quarter earnings slumped from last year, when results included a big one-time gain, but its performance was still better-than-expected.

The Federal Way, WA-based company reported first quarter net income of $41 million, or 8 cents per share, compared with $99 million, or 18 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 2 cents per share.

Revenue rose 7% from last year to $1.5 billion.

On average, Wall Street analysts expected a breakeven quarter, albeit on slightly higher sales of $1.53 billion.

Looking ahead, WY noted it expects rising sales volumes for its wood products and timberlands units in the current second quarter.

Weyerhaeuser shares posted small losses in morning trading Friday.

The Bottom Line
Shares of Weyerhaeuser ( WY ) have a 2.87% dividend yield, based on last night's closing stock price of $20.88. The stock has technical support in the $17-$18 price area. If the shares can firm up, we see overhead resistance around the $22-$23 price levels.

Weyerhaeuser Company ( WY ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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