Forestry products maker Weyerhaeuser Company (
) 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
Weyerhaeuser shares posted small losses in morning trading
The Bottom Line
Shares of Weyerhaeuser (
) 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 (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.2 out of 5 stars.
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