FEDERAL WAY (dpa-AFX) - Weyerhaeuser Co (WY) released a profit for first quarter that decreased from last year but beat the Street estimates.
The company's earnings totaled $151 million, or $0.21 per share. This compares with $771 million, or $1.03 per share, in last year's first quarter.
Excluding items, Weyerhaeuser Co reported adjusted earnings of $151 million or $0.21 per share for the period.
Analysts on average had expected the company to earn $0.11 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 39.5% to $1.88 billion from $3.11 billion last year.
Weyerhaeuser Co earnings at a glance (GAAP) :
-Earnings (Q1): $151 Mln. vs. $771 Mln. last year. -EPS (Q1): $0.21 vs. $1.03 last year. -Analyst Estimates: $0.11 -Revenue (Q1): $1.88 Bln vs. $3.11 Bln last year.
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