Key Highlights

  • Net Earnings were $61 million, or $0.08 per diluted share, on net sales of $1.9 billion.
  • Adjusted EBITDA was $248 million, up 14% from $217 million a year earlier.
  • Net earnings before special items rose from $40 million in the prior year quarter to $61 million.
  • The company agreed to sell about 81,000 acres of Arkansas timberlands for $146 million.
  • Net cash from operations was $193 million, against $210 million a year ago.

Third-quarter earnings hold at $0.08 per share

Weyerhaeuser (NYSE:WY), one of the world's largest private owners of timberlands and a major North American maker of wood products, reported third quarter 2026 results on October 29, 2026. Net earnings were $61 million, or $0.08 per diluted share, on net sales of $1.9 billion.

A year earlier the company earned $80 million, or $0.11 per share, on net sales of $1.7 billion. Net earnings before special items were $40 million in the third quarter of 2025, so the like-for-like comparison favors this year, and there were no special items in the latest quarter. Net sales were $1,862 million versus $1,717 million, an increase of about 8.4% on a calculated basis.

Adjusted EBITDA rises 14% year over year but falls from the second quarter

Adjusted EBITDA was $248 million, up from $217 million a year ago and down from $310 million in the second quarter of 2026. The second quarter included a $71 million pretax gain on the sale of Oregon timberlands.

Net cash from operations was $193 million, compared with $210 million a year earlier, and adjusted funds available for distribution were $110 million, against $117 million.

Segments split: timberlands steady, land sales and wood products softer

Timberlands net sales were $531 million, and adjusted EBITDA was $133 million, up $10 million from the second quarter. In the South, fee harvest volumes were significantly higher on favorable weather.

Strategic Land Solutions adjusted EBITDA fell to $86 million from $129 million as the number of acres sold dropped significantly and the average price per acre was moderately lower. Wood Products net sales were $1,385 million, but adjusted EBITDA fell to $91 million from $129 million. Oriented strand board realizations were 2 percent lower, and unit Manufacturing costs rose on planned annual maintenance and elevated resin costs.

Arkansas divestiture and new energy and carbon projects

In October 2026, the company agreed to divest about 81,000 acres of non-core Arkansas timberlands for $146 million, with closing expected in the fourth quarter subject to customary conditions. Management called it part of active portfolio management.

It also began construction on its first biocarbon Facility in McComb, Mississippi. About 340,000 forest carbon credits were monetized year to date, putting the program on pace for its highest annual sales volume. Construction started on two more solar sites, leaving two operating and five under construction, and it signed a geothermal exploration agreement covering about 145,000 acres in Oregon and Washington.

Balance sheet and the fourth-quarter outlook

At September 30, 2026, cash and cash equivalents were $349 million and long-term debt, net, was $5,354 million, with no current maturities. Cash dividends on common shares were $151 million in the quarter.

For the fourth quarter, the company expects Timberlands to be comparable to the third quarter, Strategic Land Solutions adjusted EBITDA to be about $45 million lower, and Wood Products to be moderately lower before price changes in lumber and oriented strand board. It still expects full year Strategic Land Solutions adjusted EBITDA of about $450 million, up $25 million from its initial outlook.

CEO Devin Stockfish cited an increasingly challenging macroeconomic backdrop while expressing confidence in longer-term demand.