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Weyco and KapStone Reports

Posted on 31st October 2014 at 09:09

Weyerhaeuser is out with its third-quarter earnings report today, announcing net earnings of $1.1 billion, compared to earnings of $157 million in the same period last year. The third quarter earnings include $966 million from “discontinued operations” related to the sale of the Weyerhaeuser Real Estate Company, along with another $9 million from “special items.” When those items are excluded, net earnings come in at $174 million; that compares to $136 million in the same period last year, and $234 million in the second quarter of this year. President and CEO Doyle Simmons says that they were able to increase the quarterly dividend by 32 percent in this quarter, and also repurchased $130 million in common shares. He says that a “relentless focus on operational excellence” is paying off for the company and its shareholders. Looking ahead to the fourth quarter, the company expects a downturn in timberland operations, “significantly lower” performance in wood products, and “significantly higher” results in the cellulose fiber segment of the company.

KapStone Paper and Packaging is reporting “record results” in the third quarter of 2014, announcing net sales of $598 million and net income of $54 million. Net income is up 22 percent over the same period in 2013. KapStone Chairman and CEO Roger W. Stone says that they have continued the positive momentum from the second quarter, and have now achieved all-time record quarterly results. Stone says that productivity gains from improved operations and “synergy” have helped to improve the bottom line; he also says that capital investments are delivering the expected results, and he says that they continue to “prudently invest” in the company’s operations. Stone says the company is continuing to shift from “integration” to “optimization,” and he claims that those steps will continue to strengthen and improve KapStone’s financial results.