Weyerhaeuser reported net sales of $1.92 billion in the third quarter, up 3% from last year's sales of $1.86 billion. The company fared considerably better in terms of its bottom line. Net earnings of $1.15 billion compared year-over-year to earnings of just $157 million in 2013.
Much of this gain can be attributed to the completed divestment of the Weyerhaeuser Real Estate Company, which brought $966 million to its coffers.
"We increased our quarterly dividend by 32% and repurchased $130 million of common shares in the third quarter, demonstrating our strong commitment to returning cash to shareholders," said Doyle Simons, president and CEO. "Our relentless focus on operational excellence resulted in another very good quarter for earnings and cash flow generation, as we continue to drive sustainable performance improvements in each of our businesses."