Weyerhaeuser Company (NYSE:WY) (WY) is one of the leading U.S. forest product companies, offering logs, hardwood lumber, timber, poles and plywood, as well as minerals, oil, gas, seeds and seedlings to a diversified client base in the U.S., Canada, Japan, Europe and other regions. This Washington-based company has $24.4 billion market capitalization.
However, Weyerhaeuser’s businesses are directly influenced by the U.S. housing market. Also, availability of credits for home buying as well as buyer’s affordability to match pace with the rising prices remains a matter of concern. Investors are eagerly waiting for the company’s latest earnings report.
Weyerhaeuser reported better-than-expected results in three out of four trailing quarter, while recording in line results in one. Average earnings surprise stands at a positive 19.91%.
Currently, Weyerhaeuser has a Zacks Rank #3 (Hold), but that could definitely change after the release of its upcoming earnings report. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: Weyerhaeuser reported earnings, before special items, of 17 cents per share in second-quarter 2016. The bottom line result came in below the Zacks Consensus Estimate of 20 cents per share.
Revenue: Revenues lagged. Weyerhaeuser generated revenues of $1.655 billion, below the Zacks Consensus Estimate of $1.84 billion.
Key Stats to Note: During the second-quarter 2016, the company announced the sale of pulp and liquid packaging board facilities, progressed on integration with Plum Creek and repurchased $830 million worth shares.
Stock Price: Weyerhaeuser shares were up almost 0.87% ahead of the report while no movement has been recorded in the pre-market trading session.
Check back our full write up on this WY earnings report later!
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