FEDERAL WAY, WA – Weyerhaeuser Corp. reported “break-even results” for its third quarter on net sales from continuing operations of $1.4 billion.
This compares with net earnings of $280 million on net sales from continuing operations of $2.1 billion for the same period last year.
“With three of our four business segments linked closely to U.S. housing starts, this recession continues to affect our financial performances,” said Dan Fulton, president and CEO of Weyerhaeuser. “Although we saw signs of improvement in the housing sector early in the third quarter, the market remains fragile. In response, we continue cutting costs and improving operations to weather the prolonged downturn and emerge as a stronger company when the housing market eventually recovers.”
Have something to say? Share your thoughts with us in the comments below.