Weyerhaeuser posts solid Q3
Weyerhaeuser reported net earnings of $157 million for the third quarter, compared with net earnings of $117 million for the same period last year.
Net sales for the third quarter totaled $2.2 billion, compared with net sales of $1.8 billion for the third quarter of 2012.
“Solid operating results in the quarter contributed to a significant improvement in our year-over-year earnings,” said Doyle Simons, president and CEO.“In the quarter, we also closed on our previously announced acquisition of Longview Timber and are actively engaged in leveraging our silviculture, logistics and marketing expertise to realize the full potential of this valuable asset. We will continue to focus on improving performance in all of our businesses and generating additional value for our shareholders.”
Total net sales in its Timberlands segment totaled $547 million in the third quarter, up from $499 million in its second quarter of 2013. Net sales in its Wood Products segment totaled $1.05 billion, compared with $1.08 billion in its second quarter. In its Cellulose Fibers segment, net sales were $474 million, compared with $476 million in the second quarter. Net sales in its Real Estate segment totaled $324 million, up from $267 million in its second quarter of 2013.
Brian Miller to serve on NAHB Executive Officers Council
Brian Miller, executive VP of the Home Builders Association of Northern Kentucky, will serve a two-year term starting in 2014 on the board of directors of the National Association of Home Builders’ (NAHB) Executive Officers Council, according to Cincinnati.com.
He will serve as a regional director from national association’s region C, which covers Kentucky, Ohio, West Virginia, Illinois, Indiana, Michigan, Iowa, Minnesota, North Dakota, South Dakota and Wisconsin.
The Executive Officers Council is an organization of association executives who manage the more than 800 local and state builder associations affiliated with National Association of Home Builders.
PulteGroup Q3 income rises
PulteGroup reported net income of $2.3 billion for its third quarter ended Sept. 30, compared with prior-year net income of $117 million.
Home sale revenues for the third quarter increased 21% from the prior year to $1.5 billion. Higher revenues for the period were driven by an 11% increase in average selling price to $310,000.
"PulteGroup’s third-quarter financial results demonstrate continued progress in our strategic repositioning of the Company to deliver better earnings and returns on invested capital," said Richard J. Dugas Jr., chairman, president and CEO of PulteGroup.
Net new orders for the third quarter totaled 3,781 homes, a decrease of 17% from the prior year.