Forest Company Quarterly Results


Weyerhaeuser, Plum Creek, and Potlatch have all released 2Q 2015 financial results in the past week
Weyerhaeuser, out of Federal Way, WA, posted quarterly net earnings to common shareholders of US$133 million, or $0.26 per share, compared to US$280 million, or $0.47 per share, in the year-ago period. Its sales slipped to $1.81 billion from $1.96 billion.

More Financial Results: 2Q 2015

Plum Creek Timber, out of Seattle, WA, July 27 announced 2Q earnings of US$21 million, or US$0.12 per diluted share, on revenues of US$302 million. Earnings for 2Q 2014 were US$55 million, or US$0.31 per diluted share, on revenues of US$356 million. Reported earnings in 2Q 2014 were higher due to the sale of over 49,000 acres of Wisconsin timberlands.
The Northern Resources segment reported operating income of US$3 million during 2Q, compared to the US$5 million reported during 2Q 2014. Total harvest volumes were similar to 2Q 2014. Higher pulpwood volumes in the Northeast and Lake States offset lower sawlog harvest levels in the Northwest. Average sawlog prices declined US$4 per ton, or about 5 per cent, compared to the prior year as West Coast sawmills were well-supplied with logs and log export markets remained soft. In the Northeast, average pulpwood prices increased US$6 per ton, or about 15 per cent over the past year. Pulpwood demand in the Lake States and New England remained strong as pulp and paper companies struggled to build log inventories.
Meanwhile, Spokane, WAโ€™s, Potlatch Corp July 28 reported net income of US$711,000, or US$0.02 per diluted share, on revenues of US$128.7 million for 2Q 2015. Net income was US$16.3 million, or US$0.40 per diluted share, on revenues of US$143.9 million in 2Q 2014.
Wood Products lost US$2 million on revenues of US$84.2 million in 2Q, compared to operating income of US$3.5 million on revenues of US$89.2 million in 1Q 2015. Lumber shipments were down slightly and the average lumber price realized was 9 per cent lower in 2Q. Log costs also remained high in the Lake States due to pulp mill demand in the region.