Charles Barone

Charles Barone asked about Weyerhaeuser's approach to lumber and OSB inventory management ahead of the spring building season, retailer strategies amid potential commodity price inflation, and the company's A&D decisions for 2026, including opportunities for conservation easements.

Answer

CEO Devin Stockfish stated that channel inventories are generally adequate, with OSB being a minor exception. CFO David Wold highlighted a solid A&D market with significant capital pursuing timber transactions and confirmed the potential for future high-value conservation easement deals like the one in Florida, leveraging Weyerhaeuser's scale and talent.

Charles Barone inquired about Weyerhaeuser's approach to lumber and OSB inventory management ahead of the spring building season, considering increased builder optimism and potential commodity price inflation. He also asked about the company's acquisition and divestiture (A&D) decisions for 2026, given strong appetite for High-Value Use (HBU) properties, and the potential for future large conservation easement transactions similar to the one in Florida.

Answer

CEO Devin Stockfish stated that lumber and OSB inventories are generally reasonable, with OSB potentially lean in some regions, and expects seasonal inventory building. CFO David Wold discussed the solid A&D market, significant capital pursuing transactions, and Weyerhaeuser's success in capitalizing on high-value HBU acreage. He confirmed the company has a dedicated team to evaluate future conservation easement opportunities, leveraging its scale and sophistication.