Weyerhaeuser profit doubles

Investor's Business Daily

The wood products maker said its Q4 earnings per share doubled to 28 cents from 14 cents a share a year ago, beating analyst estimates by 5 cents. The recovering housing market is fueling higher sales at the lumber, wood products and real estate company. Weyerhaeuser (WY) said revenue rose 24% to $2 bil, rolling past forecasts for $1.82 bil. For the current quarter, the company expects higher lumber volumes, better prices for logs and slight profit from its homebuilding division. Shares rose 1.8%.

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