Weyerhaeuser Stock Earnings Reports

Weyerhaeuser reported Q1 2026 GAAP earnings of $156 million ($0.22/sh) and adjusted (ex-special items) earnings of $77 million ($0.11/sh). Adjusted EBITDA was $308 million, up 120% sequentially. Timberlands adjusted EBITDA rose modestly (to $120M) driven by higher Western volumes and seasonal cost declines; Southern Timberlands saw softer sawlog/fiber markets. Strategic Land Solutions (SLS) delivered a very strong quarter (Adj. EBITDA $193M) led by higher real estate sales and a $94M conservation easement in Florida; full-year SLS adjusted EBITDA is expected to be ~ $425M. Wood Products improved significantly (Adj. EBITDA $71M) as lumber and OSB prices rose; lumber realizations increased ~13% sequentially. The company previewed new Wood Products (AeroStrand, Pro Panel) and expanded distribution (22 locations), with Monticello EWP plant capex of ~$300M expected in 2026 (excluded from adjusted FAD). Cash of ~$300M, total debt $5.4B; returned $151M in dividends and ~$10M in buybacks in Q1. Near-term headwinds include elevated transportation/resin costs tied to the Middle East conflict and tariffs/duties (potential duty reset later in 2026). Q2 outlook: Timberlands and Wood Products EBITDA expected to be comparable to Q1 (with seasonal volume increases offset by higher costs and planned OSB outages); SLS EBITDA expected to decline sequentially (~$70M lower) reflecting the Q1 conservation transaction timing. Management emphasizes supply/demand dynamics as the key driver of future profitability and reiterates disciplined capital allocation and maintaining investment-grade credit metrics over the cycle.