Weyerhaeuser posts wider 2Q loss as weak demand hurts sales
By APFriday, July 31, 2009
Weyerhaeuser posts wider loss in second quarter
FEDERAL WAY, Wash. — Weyerhaeuser, one of the world’s largest forest product companies, says it lost $106 million in the second quarter as the slumping housing market kept demand low for its timber and wood products.
The Federal Way, Wash., company said Friday that the loss totaled 50 cents per share, compared with a loss of $96 million, or 45 cents per share, last year.
Excluding items, Weyerhaeuser lost 59 cents per share, beating analysts’ expectations for a loss of 71 cents a share.
The loss is the company’s sixth in the last seven quarters.
Sales fell 36 percent, to $1.39 billion.
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