Weyerhaeuser profit falls as wood products sales fall
U.S. timber giant Weyerhaeuser reported a fall in third-quarter profit on Thursday, hurt by lower sales of its wood products. Demand for products such as plywood used in residential construction projects has come under pressure as two-decade high mortgage rates keep aspiring homeowners from the housing market. Net sales in its wood products segment slumped about 13% to $1.54 billion in the quarter, compared with a year earlier. Sales volumes for lumber were down due to reduced production at several mills, partially driven by temporary operational disruptions, the company said. Its timberlands ...
Register for unlimited access
We work hard to bring you the latest news in the world of international wood industry. The article you are currently reading is available only to registered users.
By registering you gain access to:
Thousands of quality articles
In-depth analyses of market trends
Exclusive market price insights
And much more!
