Timberland and wood products firm Weyerhaeuser's Q3 adjusted EPS beats estimates

Overview

• Timberland and wood products firm's Q3 sales missed analyst expectations, despite rising yr/yr

• Adjusted EPS for Q3 beat analyst expectations

Outlook

• Company did not provide specific financial guidance for the upcoming quarter or full year in the press release

Result Drivers

• OPERATING PERFORMANCE - Co said solid operating performance helped results despite challenging macroeconomic conditions

• STRATEGIC INITIATIVES - Co cited progress on timberlands portfolio optimization and strategic growth projects as supporting results

Company press release: Full Story

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the specialized reits peer group is "buy"

• Wall Street's median 12-month price target for Weyerhaeuser Company is $26.00, about 35.5% above its October 28 closing price of $19.19

• The stock recently traded at 41 times the next 12-month earnings vs. a P/E of 47 three months ago

Reuters Recommended Reads

• Oct 28 - Canada's Acadian Timber Q3 profit rises on higher pricing, Maine improvements

• Oct 28 - Canada's West Fraser Timber Q3 sales fall sequentially on weak demand

• Oct 29 - Builders FirstSource Q3 sales fall 2.2% on lower housing starts

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)