SEATTLE — Weyerhaeuser Company reported third quarter net earnings of $28 million on net sales of $1.7 billion compared to net earnings of $239 million on net sales of $2.0 billion for the same period last year and net earnings of $173 million for second quarter 2024.

Weyerhaeuser’s portfolio of lumber and oriented strand board decreased 4 percent and 25 percent, respectively, compared with second quarter averages.

On July 25, Weyerhaeuser announced strategic timberland acquisitions in Alabama, totaling 84,300 acres for $244 million. These acres were sourced through multiple transactions, the first of which closed in second quarter 2024 for $48 million, the second transaction closed in third quarter 2024 for $82 million, and the final transaction closed in fourth quarter 2024 for $114 million.

“Our teams delivered solid operating performance in the third quarter against a challenging market backdrop,” said Devin Stockfish, president and CEO. “We remain well positioned in the current environment given our deeply engrained OpX culture and relative position on the cost curve. Our balance sheet is strong, and we continue to demonstrate the durability of our portfolio and capital allocation framework across market cycles.”

Weyerhaeuser is one of the world's largest private owners of timberlands and owns or controls approximately 10.5 million acres of timberlands in the U.S., as well as additional public timberlands managed under long-term licenses in Canada. In 2023, the company generated $7.7 billion in net sales and employed approximately 9,300 people who serve customers worldwide.