Weyerhaeuser Shares Fall on Weakness in Wood-Products Markets -- Market Mover
October 26 2018 - 12:03PM
Dow Jones News
Shares of Weyerhaeuser Co. (WY) fell about 9% Friday after
third-quarter sales and profit missed analysts expectations as
weather, trade policy and volatility in the wood-products markets
weighed on its quarterly results. Analysts polled by FactSet were
expecting earnings of 37 cents a share, but the firm reported just
28 cents a share. The Seattle timber company also tapered down
expectations for the fourth quarter and said it anticipates
earnings "significantly" lower than the third quarter. The
company's stock is down nearly 25% for the year.
(patrick.thomas@wsj.com)
(END) Dow Jones Newswires
October 26, 2018 11:48 ET (15:48 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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