Weyerhaeuser Company · NYSE:WY
Weyerhaeuser — Q1 2026 Earnings Presentation
16 slides from Weyerhaeuser's earnings presentation, May 1, 2026
Slide 1: Weyerhaeuser Reports First Quarter Results
For more information contact: Analysts – Andy Taylor (206) 539-3907 Media – Nancy Thompson (919) 861-0342 Weyerhaeuser Reports First Quarter Results • Generated net earnings of $156 million, or $0.22 per diluted share, and net earnings before special items of $77 million, or $0.11 per diluted share
Slide 2: Timberlands Financial Highlights
considered in isolation from, and are not intended to represent an alternative to, our GAAP results. Reconciliations of net earnings before special items and Adjusted EBITDA to GAAP earnings are included within this release. (2) First quarter 2026 after-tax special items include a $58 million gain o
Slide 3: Wood Products Financial Highlights
WOOD PRODUCTS FINANCIAL HIGHLIGHTS 2025 2026 (millions) Q4 Q1 Change Net sales $ 1,085 $ 1,164 $ 79 Net (charge) contribution to pretax earnings $ (78) $ 42 $ 120 Pretax benefit for special items $ — $ (28) $ (28) Net (charge) contribution to pretax earnings before special items $ (78) $ 14 $ 92 Adj
Slide 4: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This earnings release contains statements concerning the company's future results and performance that are forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, with respect to our outlook and
Slide 5: Forward-looking statements risk factors
• the occurrence of regional or global health epidemics and their potential effects on our business, results of operations, cash flows, financial condition and future prospects; • energy and fuel prices; • transportation and labor availability and costs; • federal tax policies; • the effect of fores
Slide 6: Reconciliation of Adjusted EBITDA to Net Earnings
RECONCILIATION OF ADJUSTED EBITDA TO NET EARNINGS We reconcile Adjusted EBITDA to net earnings for the consolidated company and to operating income (loss) for the business segments, as those are the most directly comparable U.S. GAAP measures for each. The table below reconciles Adjusted EBITDA for
Slide 7: Reconciliation of Adjusted EBITDA, Q1 2025, and Net Earnings Before Special Items
The table below reconciles Adjusted EBITDA for the quarter ended March 31, 2025: Strategic Land Wood Unallocated (millions) Timberlands Solutions Products Items Total Adjusted EBITDA by Segment: Net earnings $ 83 Interest expense, net of 66 capitalized interest Income taxes 16 Net contribution (char
Slide 8: Reconciliation of Adjusted FAD to Net Cash from Operations
RECONCILIATION OF ADJUSTED FAD TO NET CASH FROM OPERATIONS We reconcile Adjusted FAD to net cash from operations, as that is the most directly comparable U.S. GAAP measure. We believe the measure provides meaningful supplemental information for investors about our liquidity. The table below reconcil
Slide 9: Consolidated Statement of Operations
Weyerhaeuser Company Exhibit 99.2 Q1.2026 Analyst Package Preliminary results (unaudited) Consolidated Statement of Operations Q4 Q1 Dec 31, Mar 31, Mar 31, in millions 2025 2026 2025 Net sales $ 1,541 $ 1,727 $ 1,763 Costs of sales 1,380 1,409 1,428 Gross margin 161 318 335 Selling expenses 23 23 2
Slide 10: Total Company Statistics
Weyerhaeuser Company Total Company Statistics Q1.2026 Analyst Package Preliminary results (unaudited) Special Items Included in Net Earnings (Income Tax Affected) Q4 Q1 Dec 31, Mar 31, Mar 31, in millions 2025 2026 2025 Net earnings $ 74 $ 156 $ 83 Environmental remediation charge 14 — — Gain on sal
Slide 11: Condensed Consolidated Balance Sheet
Weyerhaeuser Company Q1.2026 Analyst Package Preliminary results (unaudited) Condensed Consolidated Balance Sheet Dec 31, Mar 31, Mar 31, in millions 2025 2026 2025 ASSETS Current assets: Cash and cash equivalents $ 464 $ 299 $ 560 Receivables, net 303 396 382 Receivables for taxes 10 8 13 Inventori
Slide 12: Consolidated Statement of Cash Flows
Weyerhaeuser Company Q1.2026 Analyst Package Preliminary results (unaudited) Consolidated Statement of Cash Flows Q4 Q1 Dec 31, Mar 31, Mar 31, in millions 2025 2026 2025 Cash flows from operations: Net earnings $ 74 $ 156 $ 83 Noncash charges (credits) to earnings: Depreciation, depletion and amort
Slide 13: Timberlands Segment
Weyerhaeuser Company Timberlands Segment Q1.2026 Analyst Package Preliminary results (unaudited) Segment Statement of Operations in millions Q4.2025 Q1.2026 Q1.2025 Sales to unaffiliated customers $ 353 $ 356 $ 382 Intersegment sales 134 136 152 Total net sales 487 492 534 Costs of sales 410 409 409
Slide 14: Strategic Land Solutions Segment
Weyerhaeuser Company Strategic Land Solutions Segment Q1.2026 Analyst Package Preliminary results (unaudited) Segment Statement of Operations in millions Q4.2025 Q1.2026 Q1.2025 Net sales $ 103 $ 207 $ 94 Costs of sales 13 32 32 Gross margin 90 175 62 General and administrative expenses 7 6 7 Other
Slide 15: Wood Products Segment
Weyerhaeuser Company Wood Products Segment Q1.2026 Analyst Package Preliminary results (unaudited) Segment Statement of Operations in millions Q4.2025 Q1.2026 Q1.2025 Net sales $ 1,085 $ 1,164 $ 1,287 Costs of sales 1,099 1,087 1,114 Gross margin (14) 77 173 Selling expenses 21 22 22 General and adm
Slide 16: Unallocated Items
Weyerhaeuser Company Unallocated Items Q1.2026 Analyst Package Preliminary results (unaudited) Unallocated items are gains or charges not related to, or allocated to, an individual operating segment. They include all or a portion of items such as share-based compensation, pension and post-employment