SEATTLE -- Weyerhaeuser Company reported first quarter net earnings of $114 million on net sales of $1.8 billion. This compares with net earnings of $151 million on net sales of $1.9 billion for the same period last year and net earnings of $219 million for fourth quarter 2023.

The company also announced that continues to grow its carbon capture and sequestration business with exploration agreements across five potential sites in the U.S. South.

"In the first quarter, we delivered solid results across our businesses," said Devin Stockfish, president and CEO. "Looking forward, we are encouraged by the strong underlying fundamentals that will drive long-term growth for housing and repair and remodel demand, and natural climate solutions. And given our unmatched portfolio of assets, we are uniquely positioned to capitalize on these opportunities well into the future.
 
Weyerhaeuser is one of the world's largest private owners of timberlands; the company owns or controls approximately 10.5 million acres of timberlands in the United States, as well as additional public timberlands managed under long-term licenses in Canada. Weyerhaeuser is also one of the largest manufacturers of wood products in North America and operates additional business lines around product distribution, climate solutions, real estate, and energy and natural resources, among others. In 2023, the company generated $7.7 billion in net sales and employed approximately 9,300 people who serve customers worldwide.