The sharp sequential decline in earnings and operating income, combined with Q4 guidance for further weakness in Wood Products and Strategic Land Solutions, points to a deteriorating near-term earnings trajectory. Monitor the Q4 earnings call for housing demand commentary and any further guidance revisions.
Price Chart
Executive Summary
Weyerhaeuser reported Q3 2026 net earnings of $61M ($0.08 GAAP diluted EPS) on net sales of $1.862B, compared to $80M ($0.11) on $1.717B a year ago. Adjusted EBITDA rose 14% YoY to $248M, but GAAP EPS and net earnings declined sharply sequentially. The company guided Q4 Timberlands EBITDA roughly flat, Strategic Land Solutions EBITDA down ~$45M, and Wood Products EBITDA moderately lower, while maintaining its full-year Strategic Land Solutions EBITDA outlook of ~$450M.
Key Financial Metrics
Key Facts
- Q3 2026 net earnings of $61M ($0.08 diluted GAAP EPS) vs $80M ($0.11) in Q3 2025 and $162M ($0.23) in Q2 2026
- Net sales of $1.862B vs $1.717B in Q3 2025 (up 8.4% YoY) but down from $1.867B in Q2 2026
- Adjusted EBITDA of $248M vs $217M in Q3 2025 (up 14% YoY) but down from $310M in Q2 2026
- No special items in Q3 2026; net earnings before special items was $61M ($0.08 per diluted share)
- Operating income fell to $100M from $223M in Q2 2026 and $123M in Q3 2025
- Wood Products segment Adjusted EBITDA dropped to $91M from $129M in Q2 2026
- Strategic Land Solutions Q4 outlook: earnings before special items ~$35M lower, Adjusted EBITDA ~$45M lower than Q3
- Wood Products Q4 outlook: earnings and Adjusted EBITDA moderately lower than Q3
- Agreement to divest ~81,000 acres of non-core Arkansas timberlands for $146M, expected to close in Q4
- Full-year 2026 Strategic Land Solutions Adjusted EBITDA outlook raised to ~$450M (up $25M from initial outlook)
Financial Impact
GAAP net earnings declined 62% sequentially ($162M to $61M) and 24% YoY ($80M to $61M). Adjusted EBITDA fell 20% sequentially ($310M to $248M). Operating income halved sequentially from $223M to $100M.
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Timberlands | $531.0M | -0.9% |
| Strategic Land Solutions | $99.0M | -3.9% |
| Wood Products | $1.4B | +12.8% |
Risk Factors
- Wood Products segment facing margin compression from higher costs and lower sales realizations
- Strategic Land Solutions Q4 guidance implies a material sequential EBITDA decline of ~$45M
- Macroeconomic headwinds (interest rates, housing starts) cited by management as increasingly challenging
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-437799 |
| Document: wy-ex99_1.htm | 0001193125-26-437799 |
| Document: wy-20261029.htm | 0001193125-26-437799 |
| Document: 0001193125-26-437799-index-headers.html | 0001193125-26-437799 |
| Document: 0001193125-26-437799-index.html | 0001193125-26-437799 |
| Document: 0001193125-26-437799.txt | 0001193125-26-437799 |
| 8-K Data (Synthetic) | 0001193125-26-437799 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 29, 2026 1d ago | Press Release | No price | awaiting T+1 | awaiting T+1 | No price |
Oct 29, 2026 1d ago | 8-K | $19.54 | awaiting T+1 | awaiting T+1 | $19.75 (−1.07%) |
Oct 29, 2026 1d ago | Institutional Cluster | $19.75 $20.35 | ▲ +3.04% | ▲ +4.81% | $19.75 (0.00%) |
Oct 27, 2026 3d ago | SC 13G/A | $19.19 $19.75 | ▲ +2.92% | ▲ +3.30% | $19.75 (+2.92%) |
Sep 24, 2026 5w ago | Press Release | $20.01 | awaiting T+1 | awaiting T+1 | $19.75 (−1.30%) |
Sep 24, 2026 5w ago | 8-K | $20.14 $20.01 | ▲ +0.65% | ▲ +1.19% | $19.75 (+1.94%) |
Aug 14, 2026 11w ago | Press Release | $24.08 $23.61 | ▼ −1.95% | ▼ −1.28% | $19.75 (−17.98%) |
Jul 30, 2026 13w ago | Press Release | $25.03 $25.23 | ▲ +0.80% | ▼ −0.63% | $19.75 (−21.09%) |
Jun 25, 2026 18w ago | 8-K | $25.31 $24.62 | ▲ +2.73% | ▲ +4.37% | $19.75 (+21.97%) |
Apr 1, 2026 30w ago | DEFA14A | $24.20 $24.43 | ▲ +0.95% | ▲ +0.87% | $19.75 (−18.39%) |
US Market Status
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