Weyerhaeuser Q4 report notes record full year net earnings
January 31, 2022 By CFI staff
Weyerhaeuser is reporting record full-year earnings of $2.6 billion in 2021 despite operation and market challenges over the year.
“Our 2021 financial performance was the strongest on record and each of our businesses delivered exceptional results despite persistent operational and market challenges,” said Devin W. Stockfish, president and chief executive officer.
“Our teams delivered the highest Wood Products Adjusted EBITDA on record, captured over $70 million of operational excellence improvements, optimized our timberlands holdings through strategic transactions in Alabama and Washington, and launched our new Natural Climate Solutions business. As we enter 2022, we continue to be encouraged by strong demand fundamentals that will drive growth for our businesses and remain focused on creating superior value for shareholders through our unmatched portfolio of assets, industry-leading operating performance, strong ESG foundation and disciplined capital allocation,” Stockfish said in the report.
Weyerhaeuser also reported increasing full year Adjusted EBITDA by 86 per cent to a record $4.1 billion, generating record full year cash flow from operations of $3.2 billion and Adjusted FAD of $2.6 billion, and delivering total cash return to shareholders of more than $2 billion based on 2021 results.
Weyerhaeuser said it anticipates first quarter earnings and Adjusted EBITDA will be significantly higher than the fourth quarter. In the West, the company expects significantly higher domestic sales realizations and fee harvest volumes, moderately higher export sales realizations, and seasonally lower forestry and road costs. Per unit log and haul costs are expected to be moderately lower than the fourth quarter. In the South, the company expects comparable sales realizations and seasonally lower forestry and road costs. This is expected to be offset by slightly higher per unit log and haul costs and slightly lower fee harvest volumes.
Read the full report here.
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