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Weyco Results

Posted on 1st August 2014 at 08:52

Weyerhaeuser is out with second-quarter results this morning, reporting solid profits in the past three months. Net profits went up to $280 million, compared to profits of $196 million in the second quarter of last year. Revenues from continuing operations were up five percent, coming in at just less than $2 billion. The third quarter is also looking pretty good, as that report will contain a one-time net gain of about $1 billion, coming from the sale of Weyco’s homebuilding business, the Weyerhaeuser Real Estate Company. The report is kind of a mixed bag for Wall Street, as the revenue report was about $310 million less than what analysts had predicted, but the earnings of 40 cents per share is five cents above the analysts’ predictions.