Weyerhaeuser reports Q4 adjusted EPS 16c, consensus 17c

Reports Q4 revenue $1.8B, consensus $1.86B. Q4 adjusted EBITDA was $321M vs. $369M last year. “Our performance in 2023 reflects solid execution across all businesses, notwithstanding challenging market conditions,” said Devin Stockfish, CEO. “In addition, our teams drove meaningful improvements across each of the value levers of our investment thesis in 2023. Notably, we optimized our timberlands holdings through strategic transactions in the Carolinas and Mississippi, captured additional operational excellence improvements, grew our Natural Climate Solutions business and sold our first forest carbon credits in the voluntary market. We also increased our base dividend by 5.6% and repurchased $125M of our shares. Entering 2024, we are encouraged by resiliency in the housing market and maintain a favorable longer-term outlook for the demand fundamentals that will drive growth for our businesses. Our balance sheet is exceptionally strong, and we remain focused on serving our customers and driving long-term value for shareholders through our unrivaled portfolio, industry-leading performance, strong ESG foundation and disciplined capital allocation.” Earnings reported last night.