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Weyco Results

Posted on 31st January 2014 at 17:13

Weyerhaeuser reported fourth-quarter and full-year results this morning, and while the company reported a profit, some after-tax charges kept the financial picture being even better. The Federal Way-based timber giant reports full-year earnings of $540 million on net sales of $8.5 billion, compared with net earnings of $385 million on sales of $7.1 billion the year before. The full-year earnings also include after-tax charges of 114 million dollars for “special items,” mostly dealing with a previously announced “real estate impairment.” Fourth-quarter-share earnings came in at 27 cents per share, “missing the Street” by a penny. CEO Doyle Simmons says that they’re working to be a “truly great company” for shareholders, and were able to double earning in 2013, along with increasing dividends by 30 percent. Looking ahead in the first quarter of 2014, Weyco is expecting “significantly higher” earnings in the Timberland sector, higher earnings in Wood Products, and lower earnings in the Cellulose Fibers sector.