Weyerhaeuser Q3 woe

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25 October 2006 — Federal Way (WA): Weyerhaeuser has posted falls in Q3 earnings and sales.

 

Q3 net earnings fell by almost 26 percent from $285 in Q3 2005 to $211 million.

 

Diluted EPS of $0.85 were down by nearly 27 percent from $1.16 a year earlier.

 

Net sales were reduced by roughly 2 percent from $5.4 billion to $5.3 billion.

 

During the quarter the company was subject to a charge of $25 million in relation to the closure of the Price Albert, Saskatchwen facility.

 

Weyerhaeuser’s Q3 was also affected by a charge of $6 million in relation to the acquisition of OrganicID.