Weyerhaeuser posts loss for Q4
Sales fall 10% in the fourth quarter for wood products producer.
Weyerhaeuser, the wood products giant, posted fourth quarter 2018 net sales of $1.63 billion – down nearly 10% from fourth quarter 2017 net sales of $1.82 billion.
For the full year 2018, the Seattle-based company reported that net sales increased 4.2% to $7.5 billion from 2017 net sales of $7.2 billion.
But profits declined drastically during the quarter as Weyerhaeuser posted a net loss of $93 million compared to net earnings of $271 million for the corresponding period a year ago.
Full-year net earnings increased 28.5% to $748 million from $582 million in 2017.
The company said the fourth quarter included net after-tax charges of $163 million, including $152 million related to Weyerhaeuser’s U.S. qualified lump-sum pension plan offer.
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