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Weyco Results

Posted on 25th October 2013 at 16:22

Weyerhaeuser is out with third-quarter results today, and the news is pretty good. Weyco “beat the street” this morning, announcing net earnings of $157 million, up from $117 million in the same quarter last year. Net sales were also up 23 percent, coming in at $2.18 billion. Wall Street analysts had been predicting 21 cents per share in this quarter; the results came in at 27 cents per share. Better-than-expected home sales helped to move the report to the plus side, along with the acquisition of Longview Timber. Weyerhaeuser has been trying to sell its homebuilding business for some time, and reportedly is in “advanced talks” to sell that segment of the company to Tri Pointe Homes, Inc. for $2.7 billion.