SEATTLE (AP) _ Weyerhaeuser Co. (WY) on Friday reported a first-quarter loss of $289 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Seattle-based company said it had a loss of 39 cents. Earnings, adjusted for non-recurring costs and to extinguish debt, were 11 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 11 cents per share.
The timber and paper products company posted revenue of $1.64 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $1.73 billion.
Weyerhaeuser shares have risen 20 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 17 percent. The stock has decreased 27 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WY at https://www.zacks.com/ap/WY