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Weyerhaeuser Company (WY) investor relations material
Weyerhaeuser Company Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 net earnings were $80 million ($0.11/share), up 186% year-over-year, on $1.7–$1.72 billion net sales; Adjusted EBITDA was $217 million, reflecting solid execution amid challenging markets and special items including a $29 million gain from a lumber mill sale and insurance recoveries.
Performance benefited from Timberlands and Real Estate & ENR growth, offsetting Wood Products losses; disciplined capital allocation and a strong balance sheet were maintained.
Completed $459 million in Timberlands acquisitions and advanced $410 million in divestitures, achieving multi-year growth targets.
Returned $150 million to shareholders via share repurchases year-to-date, with ongoing dividends and a new $1 billion buyback program.
Sold Princeton lumber mill for $85 million, recognizing a $29 million gain; $61 million proceeds received, remainder pending regulatory approval.
Financial highlights
Q3 2025 Adjusted EBITDA: $217 million; cash from operations: $210 million; ended with $400–$401 million cash and ~$5.47–$5.5 billion total debt.
Adjusted EBITDA by segment: Timberlands $148 million, Real Estate & ENR $91 million, Wood Products $8 million; Timberlands contributed $80 million to earnings.
Gross margin for Q3 2025 was $204 million, down from $250 million in Q3 2024 and $325 million in Q2 2025.
Share repurchases totaled $25 million in Q3, $150 million year-to-date; capital expenditures $125 million in Q3, $325 million year-to-date.
Adjusted FAD for Q3 2025 was $117 million, with a net debt to Adjusted EBITDA (LTM) of 4.3x.
Outlook and guidance
Q4 2025 earnings and Adjusted EBITDA expected to be lower across all segments, with Timberlands down ~$30 million, Real Estate & ENR down ~$15 million, and Wood Products slightly lower.
Full-year 2025 Real Estate & ENR Adjusted EBITDA guidance raised to ~$390 million; natural climate solutions on track for $100 million Adjusted EBITDA by year-end.
Capital expenditures for 2025 projected at $380–$390 million, excluding $130 million for the Monticello EWP facility.
Management expects favorable U.S. housing construction market over the medium to long term, despite current macroeconomic uncertainty.
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