Businessweek

Weyerhaeuser Co. Presents at Goldman Sachs Basic Materials Conference 2013, May-21-2013 01:35 PM. Venue: Goldman Sachs Conference Center, 200 West Street, New York, New York, United States. Speakers: Daniel S. Fulton, Chief Executive Officer, President, Director and Member of Executive Committee.

Weyerhaeuser Co. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net earnings of $144 million, or 26 cents per diluted share compared to net earnings of $41 million, or $0.08 per diluted share, for the same period last year. Net sales were $2.0 billion, compared with net sales of $1.5 billion for the first quarter of 2012. Operating income was $256 million compared to $101 million a year ago. Earnings before income taxes were $185 million compared to $26 million a year ago. Adjusted EBITDA, excluding special items was $387 million compared to $186 million a year ago. Net cash used in operations was $61 million compared to $60 million a year ago. Net earnings before special items were $144 million compared to $9 million a year ago. Net earnings before special items per diluted share were $0.26 compared to $0.02 a year ago. The company had total capital expenditures of about $48 million during the quarter. The company expects total capital expenditures for the year 2013 to be up to $300 million.

Weyerhaeuser Company announced that its board of directors has authorized an 18% increase in the company's regular quarterly cash dividend, from $0.17 per share to $0.20 per share. The board declared a dividend on the common stock of the corporation, payable on May 31, 2013, to shareholders of record at the close of business May 10, 2013.

Weyerhaeuser Co. - Analyst/Investor Day

Weyerhaeuser Co. announced Adrian M. Blocker will join Weyerhaeuser as Vice President of Lumber, effective May 1, 2013. Blocker's appointment follows Robert Taylor's planned retirement from the company in May 2013. Blocker has held positions in leadership, strategic planning, business development, manufacturing and sales management at Champion International, International Paper and West Fraser. Most recently, he served as CEO of the Wood Products Council. He holds an MBA and Bachelor of Science degrees in Business and Forestry from Mississippi State University.