Weyerhaeuser quarterly profit slumps as higher costs weigh on timber business
The company owns or controls about 10.5 million acres of timberlands in the United States, primarily in the West, South and Northeast. Last year, the company said it would acquire timberlands in Alabama totaling 84,300 acres in three transactions for $244 million, which were closed by October. Weyerhaeuser posted a profit of $81 million for the quarter ended Dec. 31, compared with $219 million a year earlier.