Weyerhaeuser's Results Soften Considerably on Rock-Bottom Wood Product Prices
While results out of Weyerhaeuser's timber and real estate segments largely matched our expectations, the rapid decline in wood product prices eclipsed our bearish expectations for the end of 2018. Lumber prices fell nearly 25% from the third to fourth quarter, while OSB prices fell nearly 30%. This severely reduced segment adjusted EBITDA sequentially to $66 million from $250 million in the third quarter. The falling prices are due to the supply response following the run up in prices early in ...Weyerhaeuser is a real estate investment trust. The company's business segments are: Timberlands, which provides delivered logs (grade logs and fiber logs), timber, recreational leases and other products; Real Estate, Energy and Natural Resources (ENR), in which Real Estate sells timberland tracts for recreational, conservation, commercial or residential purposes, whereas ENR sells rights to explore, extract and sell construction aggregates (rock, sand and gravel), industrial materials and oil and natural gas; and Wood Products, which provides structural lumber, oriented strand board, wood products, other products, and complementary building products.
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