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Weyerhaeuser Company is one of the largest private owners of timberlands in North America, managing approximately 10.5 million acres in the U.S. and an additional 14 million acres under long-term licenses in Canada. The company operates primarily through three business segments: Timberlands, Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products . Weyerhaeuser is a major manufacturer of wood products, including structural lumber, oriented strand board, and engineered wood products . Overall, Weyerhaeuser's operations are deeply integrated with a focus on sustainability, and the company is structured as a real estate investment trust (REIT) to optimize tax efficiency .
- Wood Products - Manufactures wood products, including structural lumber, oriented strand board, and engineered wood products.
- Timberlands - Involves growing and harvesting timber, with products including logs, timber, and recreational leases.
- Real Estate, Energy and Natural Resources (Real Estate & ENR) - Focuses on selling timberland tracts for various purposes and granting rights for energy and natural resource extraction, including generating and selling forest carbon credits.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Brian K. Chaney Executive | Senior Vice President, Wood Products | None | Brian K. Chaney has been with WY since 1991, currently leading the Wood Products division, focusing on strategy and innovation. | |
David M. Wold Executive | Senior Vice President and Chief Financial Officer | None | David M. Wold joined WY in 2013 and became CFO in May 2022, previously serving as Corporate Controller and Chief Accounting Officer. | |
Denise M. Merle Executive | Senior Vice President and Chief Administration Officer | None | Denise M. Merle has held various roles at WY, currently overseeing HR, IT, and investor relations since 2018. | |
Devin W. Stockfish Executive | President and Chief Executive Officer | Chair of the Board of Directors for the National Alliance of Forest Owners | Devin W. Stockfish has been the CEO since January 2019, with extensive experience in capital-intensive industries, mergers and acquisitions, and strategic planning. | View Report → |
Kristy T. Harlan Executive | Senior Vice President, General Counsel, and Corporate Secretary | None | Kristy T. Harlan joined WY in 2017, overseeing global legal, compliance, and risk management functions. | |
Paul A. Hossain Executive | Senior Vice President and Chief Development Officer | Board Member of the U.S. Endowment for Forestry and Communities | Paul A. Hossain joined WY in 2016, focusing on natural resources and climate solutions, and became Chief Development Officer in 2025. | |
Travis A. Keatley Executive | Senior Vice President, Timberlands | None | Travis A. Keatley has been with WY since 1997, leading Timberlands operations since 2021. | |
Al Monaco Board | Director | Director at Canadian National Railway Company | Al Monaco joined the board in 2020, with extensive experience in energy infrastructure and strategic planning. | |
Deidra C. Merriwether Board | Director | CFO at W.W. Grainger, Board Member at Ann and Robert Lurie Children’s Hospital | Deidra C. Merriwether joined the board in 2020, bringing extensive management experience in sales and finance. | |
James C. O’Rourke Board | Director | Director at The Toro Company, Director at Rio Tinto Ltd | James C. O’Rourke joined the board in 2023, with leadership experience in global mining and sustainability. | |
Kim Williams Board | Director | Director at E.W. Scripps Company, Lead Independent Director at Xcel Energy Inc. | Kim Williams has been a director since 2006, with significant experience in investment management and corporate governance. | |
Lawrence A. Selzer Board | Director | Chairman of the Board of Directors of the American Bird Conservancy, Leading Harvest | Lawrence A. Selzer has been a director since 2016, with expertise in conservation and real estate management. | |
Mark A. Emmert Board | Director | Director at Expeditors International, Life Member of the Council on Foreign Relations | Mark A. Emmert has been a director since 2008, with a background in governance and public policy. | |
Nicole W. Piasecki Board | Director | Board Member at BAE Systems PLC, BWX Technologies | Nicole W. Piasecki has been a director since 2003, with roles in governance and corporate responsibility. | |
Rick R. Holley Board | Chairman of the Board | Member of the Federal Reserve Bank of San Francisco’s Economic Advisory Council | Rick R. Holley joined WY in 2016 after the merger with Plum Creek, serving as Chairman since then. | |
Sara Grootwassink Lewis Board | Director | Board Member at Healthpeak Properties, Freeport-McMoRan, Everside Health Group | Sara Grootwassink Lewis has been a director since 2016, with expertise in audit and governance, chairing the Audit Committee. |
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Given the challenges in the lumber market and your expectations for 2025, what specific operational improvements or cost reductions are you implementing to ensure that your lumber business returns to profitability above your cost of capital, and can you quantify the expected impact of these initiatives?
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You've mentioned significant opportunities in exporting logs from the U.S. South to markets like India, Vietnam, Turkey, and Pakistan. Can you provide more details on the scale of these opportunities, the investments required to build out export facilities, and how you plan to mitigate risks associated with entering these new markets?
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Regarding your renewables portfolio, you've indicated a "meaningful uptick" in forest carbon revenues and EBITDA next year. Can you provide concrete guidance on the expected financial contributions from your NCS projects, including forest carbon and solar developments, and how these will impact overall company performance?
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You've acknowledged potential lithium mining opportunities on your Southern timberlands but have provided little detail. Can you elaborate on your strategy to capitalize on these opportunities, any partnerships being considered, and the expected timeline and financial impact of such initiatives?
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With base dividends and share repurchases outpacing your funds available for distribution year-to-date, how sustainable is your current capital return strategy? Are you prioritizing shareholder returns over reinvestment in the business, and how do you plan to balance these moving forward, especially if market conditions remain challenging?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Timberlands in Alabama (Weyerhaeuser Company) | 2024 | Acquired 84,300 acres for a total of $244 million via three transactions ($48M in Q2, $82M in Q3, and $114M in Q4). The timberlands are located in a strong inland sawlog market with 74% planted pine acreage expected to yield an average Adjusted EBITDA of approximately $150 per acre annually over 10 years. |
Timberlands in Mississippi (Weyerhaeuser Company) | 2023 | Acquired 22,000 acres for approximately $60 million on July 19, 2023. The acquisition offers synergies due to short-haul distances from local lumber mills, is highly productive with a mature timber inventory, and supports the company’s broader $1 billion investment strategy to enhance real estate and natural climate solutions. |
Timberlands in N. & S. Carolina (Weyerhaeuser Company) | 2022 | Acquired roughly 81,000 acres for approximately $265 million with high-quality, well-managed timberlands in premium coastal markets. The deal, completed in May 2022, supports operational synergies with existing timber and mill operations and is reflected in the company’s balanced accounting records. |
Recent press releases and 8-K filings for WY.
- Financial Performance: GAAP earnings of $83 million (or $0.11 per diluted share), $1.8 billion in net sales, and consolidated Adjusted EBITDA of $328 million .
- Segment Highlights: Timberlands generated $102 million in earnings and $167 million in adjusted EBITDA; Real Estate/ENR contributed $56 million in earnings and $82 million in adjusted EBITDA; Wood Products reported $106 million in earnings and $161 million in adjusted EBITDA .
- Strong Balance Sheet: End-of-quarter cash of $560 million with total debt of $5,167 million and $25 million repurchased during Q1 2025 .
- Capital Returns: Quarterly dividend increased by 5% to $0.21 per share with cumulative share repurchases nearing $925 million under the authorized program .
- Future Outlook & Projects: Continued progress on the CCS project with Occidental (targeting first injection in 2029) amid cautious views on housing activity and repair & remodel trends .
- Net earnings of $83 million and diluted EPS of $0.11 on $1.8 billion in net sales were reported for Q1 2025.
- The company achieved Adjusted EBITDA of $328 million, reflecting a 12% increase compared with Q4 2024.
- A 5% increase in the quarterly base dividend was announced, marking the fourth consecutive year of dividend growth.
- Media inquiries can be directed to Nancy Thompson at (919) 861-0342.
- Growth strategy: Committed to disciplined investments of $1 billion in timberlands from 2022 to 2025 and targeting Natural Climate Solutions EBITDA of $100 million by 2025.
- Capital allocation focus: Emphasizes returning 75-80% of adjusted funds available for distribution via dividends and share repurchases.
- Sustainability commitment: Highlights robust ESG initiatives including sustainable forestry practices and a net-zero emissions target by 2040.