Headline: "Weyerhaeuser Surpasses Q3 Earnings Projections, Revenue Falls Short of Expectations"

SEATTLE - Weyerhaeuser Company (NYSE:WY) announced its financial results for the third quarter of 2024. The company's earnings surpassed expectations, while revenue fell short of projections. Shares of the timber and wood products company rose by 1% following the announcement.

Weyerhaeuser reported an adjusted earnings of $0.05 per share for the quarter, exceeding analysts' consensus estimate of a $0.01 loss. This marked a significant earnings surprise, indicating the company's return to profitability at a time when analysts anticipated a modest loss.

Revenue for the quarter stood at $1.68 billion, slightly below the consensus estimate of $1.72 billion. This figure reflected ongoing challenges in the housing and construction markets and represented a decline compared to the same quarter of the previous year.

Regarding the results, the company's CEO stated, "Despite challenging market conditions, our team's focus on operational excellence and cost discipline enabled us to deliver a solid third-quarter performance."

As one of the world's largest private timberland owners, Weyerhaeuser manages approximately 10.5 million acres in the U.S. and 14 million acres under long-term licenses in Canada. The company's performance is often viewed as an indicator of broader trends in the housing and construction sectors.