Weyerhaeuser reported 9.2% increase of net sales and 22.5% increase of Adjusted EBITDA in 2Q2017 compared with the same period of the last year. According to the announcement, the company’s revenues accounted for USD 1,808 million, generating Adjusted EBITDA of USD 506 million (27.9% margin) in the period.
Doyle R. Simons, Weyerhaeuser’s President and CEO, commented:
“Each of our businesses delivered strong second quarter operating results, leveraging ongoing operational excellence initiatives to capitalize on improving markets. In the quarter, we also announced the pending sale of our Uruguay operations and completed the asset value optimization process for our Western timberlands. Looking forward, we are extremely well positioned to continue to capitalize on the improving housing market, and remain relentlessly focused on driving value for our shareholders through operational improvements and disciplined capital allocation.”
In 1Q2017 the company increased EBITDA margin to 26.8%.
Earlier Weyerhaeuser announced plans to delist from the Chicago Stock Exchange.
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.