Weyerhaeuser(WY)2025-01-30 21:10Financial Performance - Net sales for Q4 2024 were $1,708 million, a decrease of 3.7% compared to Q4 2023's $1,774 million[1] - The gross margin for Q4 2024 was $304 million, representing a 11.4% increase from Q4 2023's $342 million[1] - Operating income for Q4 2024 was $141 million, down 49.5% from $278 million in Q4 2023[1] - Net earnings for Q4 2024 were $81 million, a decline of 1.5% compared to $219 million in Q4 2023[1] - Adjusted EBITDA for Q4 2024 was $294 million, a decrease of 10.5% from $321 million in Q4 2023[3] - Earnings per share (diluted) for Q4 2024 were $0.11, down from $0.30 in Q4 2023[2] - The company reported a year-to-date net earnings of $396 million for 2024, compared to $839 million in 2023[1] - Adjusted EBITDA for the year 2024 was $539 million, down from $646 million in 2023, reflecting a decrease of about 17%[10] - The total net contribution to earnings for Q4.2024 was $106 million, compared to $119 million in Q4.2023, a decrease of approximately 11%[19] Assets and Liabilities - Total assets as of December 31, 2024, were $16,756 million, a slight decrease from $16,983 million in 2023[7] - Long-term debt as of December 31, 2024, was $4,861 million, slightly down from $5,069 million in 2023[7] - Total current liabilities increased to $944 million in Q4 2024 from $788 million in Q4 2023, an increase of about 20%[7] Cash Flow and Capital Expenditures - Net cash from operations for the year 2024 was $1,008 million, compared to $1,433 million in 2023, reflecting a decrease of approximately 30%[8] - The company incurred capital expenditures for property and equipment totaling $364 million in 2024, compared to $390 million in 2023[8] - Cash spent for capital expenditures in Q4.2024 was $117 million, compared to $155 million in Q4.2023, indicating a reduction of approximately 24%[21] - Cash spent for capital expenditures in Q1.2024 was $(6) million, compared to $(4) million in Q4.2023[26] Segment Performance - Total net sales for the Timberlands segment in Q4 2024 were $497 million, down from $534 million in Q4 2023, representing a decline of about 7%[9] - Operating income for the Timberlands segment in Q4 2024 was $62 million, compared to $186 million in Q4 2023, indicating a significant decrease of approximately 67%[9] - Production volumes for Structural Lumber in Q1.2024 were 1,085 million board feet, a slight increase from 1,091 million board feet in Q4.2023[22] - Third-party sales volumes for Medium Density Fiberboard in Q2.2024 were 36 million square feet, consistent with Q1.2024[22] Market and Pricing - The price per acre for real estate in Q4.2024 was $2,806, down from $4,202 in Q4.2023, reflecting a significant decrease of about 33%[17] - The basis as a percent of real estate net sales for Q4.2024 was 39%, compared to 45% in Q4.2023, indicating a decline of 6 percentage points[17] Other Financial Metrics - The company did not report any gains on the sale of timberlands in Q4 2024, contrasting with a loss of $84 million in Q4 2023[1] - Cash and cash equivalents at the end of Q4 2024 were $684 million, a decrease from $1,164 million at the end of Q4 2023[8] - The total decrease in working capital for YTD.2024 was $(35) million, compared to an increase of $26 million in YTD.2023[21] - The company recorded a foreign exchange loss of $(1) million in Q1.2024, while gaining $1 million in Q4.2023[24] - The company reported a net charge to earnings of $(67) million in Q1.2024, which is an increase from $(63) million in Q4.2023[24]