Higher sales volumes and prices helped Weyerhaeuser’s wood products division reduce its losses in the first quarter.
Pre-tax losses before special items totalled US$22m, compared to losses of US$61m in the preceding quarter.
Weyerhaeuser said sales and prices were better across all product lines and operating rates also improved. These were partially offset by increased freight costs.
The company expects its wood products business to achieve break even in the second quarter on the back of continuing volume and price growth.
Group-wide, Weyerhaeuser recorded net profits of US$41m in the first quarter, down from US$99m a year ago and from US$65m in the preceding quarter.
Sales were US$1.49bn, up from US$1.42bn a year ago but down from US$1.61bn in the preceding quarter.
