Weyerhaeuser reports wood products segegment recovery

Weyerhaeuser reported a sharp improvement in its wood products segment in the first quarter, supported by higher lumber and panel prices. Adjusted EBITDA for wood products rose to $71 million from a loss in the fourth quarter. The increase was driven by stronger pricing, with lumber and oriented strand board (OSB) realizations up 13% and 8%, respectively. Lumber sales volumes were slightly higher, while unit manufacturing costs declined and log costs remained broadly stable. In OSB, sales volumes and manufacturing costs were slightly lower, while fiber costs increased modestly. Engineered wood products showed mixed performance. Sales volumes ...