Michael Roxland's questions to Weyerhaeuser Co (WY) leadership • Q1 2025
Question
Michael Roxland asked about the drivers behind the recent uptick in EWP order files, the segment's Q1 operating rate, the scale of the CCS opportunity, and whether CCS represents the highest-margin business within Natural Climate Solutions.
Answer
CEO Devin Stockfish attributed the EWP order uptick to normal seasonality, with Q1 operating rates in the low 70% range. He reiterated that the long-term CCS opportunity remains significant, though the timeline has been extended. He described CCS margins as 'incredible,' clarifying it is a lease of subsurface pore space with very low costs for Weyerhaeuser, representing nearly pure upside and making it a high-margin opportunity.