The rebounding US housing market and increasing ltimber and lumber prices saw the Weyerhaeuser Company reported an 800% increase over the previous year with net earnings of $84 million for the second quarter on net sales of $1.8 billion up over 12%.
Earnings for the second quarter of 2012 include after-tax gains of $37 million from special items. Excluding these items, the company reported net earnings of $47 million. This compares with net earnings before special items of $32 million in the second quarter of 2011.
"We are seeing signs of a rebound in the U.S. housing market, and as markets strengthen, the operational improvements within our Wood Products business are yielding clear results," said Dan Fulton, president and chief executive officer. "Our ongoing work to improve performance across all businesses is positioning us to capture the full benefit of the market recovery as it unfolds."
Source : Weyerhaeuser