Weyerhaeuser reported 20.4% increase of net sales and 35.1% increase of Adjusted EBITDA in 1Q2017 compared with the same period of the last year. According to the announcement, the company’s revenues accounted for USD 1,693 million, generating Adjusted EBITDA of USD 454 million (26.8% margin) in the period.
Doyle R. Simons, Weyerhaeuser’s President and CEO, commented:
“I am very pleased with our first quarter performance, as our employees capitalized on operational excellence improvements, merger-related synergies and strengthening market conditions to deliver outstanding results. In addition, we achieved our increased USD 125 million run-rate merger cost synergy target. Looking forward, we remain relentlessly focused on leveraging merger synergies and operational improvements to drive industry leading performance and superior value for our shareholders.”
Earlier Weyerhaeuser declared a dividend payable on March 17, 2017.
The company is one of the world’s largest private owners of timberlands. It owns or controls more than 13 million acres of timberlands, primarily in the U.S., and manage additional timberlands under long-term licenses in Canada. The company manages these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. Weyerhaeuser is also one of the largest manufacturers of wood products. In February 2016, Weyerhaeuser merged with Plum Creek Timber Company. In 2016, we generated $6.4 billion in net sales and employed approximately 10,400 people who serve customers worldwide.