Weyerhaeuser doubles up

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Weyerhaeuser has more than doubled its profit in Q2. The firm posted net earnings of $369 million, or EPS of $1.57, compared with $157 million, or EPS of $0.71, a year earlier. Sales rose to $5.89 billion from $4.93 billion last year.

CEO Steve Rogel said: "Our record quarterly earnings reflect favorable market conditions for wood products and timberlands, combined with hard work by our employees to improve efficiency and streamline operations." Rogel added that price increases in pulp, paper and packaging "continue to be implemented".

Federal Way (WA)