Weyerhaeuser Company reported Q4 2022 net earnings of $11 million, or 2 cents per diluted share, on net sales of $1.8 billion. This compares with net earnings of $416 million, or 55 cents per diluted share, on net sales of $2.2 billion for the same period last year and net earnings of $310 million for the Q3 2022.
Excluding a total after-tax charge of $160 million for special items, the company reported Q4 2022 net earnings of $171 million, or 24 cents per diluted share. This compares with net earnings before special items of $367 million for the same period last year. Adjusted EBITDA for the Q4 2022 was $369 million compared with $674 million for the same period last year and $583 million for the Q3 2022.
For the full year 2022, Weyerhaeuser reported net earnings of $1.9 billion, or $2.53 per diluted share, on net sales of $10.2 billion. This compares with net earnings of $2.6 billion on net sales of $10.2 billion for the full year 2021. Full-year 2022 includes after-tax charges of $367 million for special items. Excluding these items, the company reported net earnings of $2.2 billion, or $3.02 per diluted share. This compares with net earnings before special items of $2.5 billion for the full year 2021. Adjusted EBITDA for full year 2022 was $3.7 billion compared with $4.1 billion for full year 2021.
Weyerhaeuser Company announced that its Board of Directors declared a supplemental dividend of $0.90 per share on the common stock of the company, payable in cash on February 27, 2023, to holders of record of such common stock as of the close of business on February 15, 2023.
In 2022, Weyerhaeuser generated Adjusted Funds Available for Distribution (Adjusted FAD) of more than $2.3 billion. Including the supplemental dividend to be paid on February 27, 2023, Weyerhaeuser is returning $1.62 per share of dividends to shareholders based on 2022 financial results, including:
- $534 million, or $0.72 per share, of quarterly base dividends paid in 2022; and
- $662 million, or $0.90 per share, from the supplemental dividend, was declared today.
Weyerhaeuser Company, one of the world’s largest private owners of timberlands, began operations in 1900. The Company owns or controls approximately 11 million acres of timberlands in the U.S. and manages additional timberlands under long-term licenses in Canada.