Weyerhaeuser expects to triple China log shipments in fourth quarter

By Dharna Bafna

Oct 30 (Reuters) - Weyerhaeuser WY.N said on Friday that it expects to ship three vessels of logs to China in the fourth quarter, up from one per quarter since late 2025, signaling a potential improvement in export markets for the US timber company.

The company's shares were up nearly 2% in afternoon trading.

Here are more details:

• Weyerhaeuser said on a post-earnings call that the removal of Beijing's 10% tariff on US log imports before year-end could help the company command higher prices for log exports from the US West into China

• Weyerhaeuser also expects to increase share repurchases in the fourth quarter even as it warned that housing-linked repair and remodeling demand could remain muted into 2027

• The company forecast slightly higher fourth-quarter average sales realizations sequentially for engineered wood products

• Weyerhaeuser, however, said disruptions at pulp and paper mills had weighed on Western fiber markets

• Separately, it said the cost of its Monticello project would be moderately above its initial $500 million estimate, with about $250 million of investment expected in 2026

• The Seattle, Washington-based company posted third-quarter adjusted profit of 8 cents per share on Thursday, beating analysts' estimates of 4 cents per share, according to data compiled by LSEG