Weyerhaeuser Posts Record Earnings
A more than tenfold increase in earnings on pulp, paper and packaging fueled record operating profits for Weyerhaeuser Co. for a second straight quarter, the company reported Wednesday.
Weyerhaeuser netted $246.7 million, or $1.21 a share, on record net sales of $3.07 billion, compared with net earnings of $128.9 million, or 62 cents a share, on sales of $2.6 billion in second quarter of 1994.
The gains amount to 91 percent in profits and 18 percent in sales.
Half-year profits were $453.3 million, or $2.21 a share, on sales of $5.82 billion, compared with $255.4 million in profits, or $1.24 a share, on $$.98 billion in sales at the midpoint of 1994.
Operating earnings on pulp, paper and packaging soared to $304.9 million in the 13 weeks ending June 25, from $30.1 million in the period last year.