Weyerhaeuser beats profit estimate, sales fall short

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SEATTLE — Weyerhaeuser's second-quarter earnings from continuing operations rose 28 percent compared to the same quarter a year ago, the forest products company reported Friday.

Excluding discontinued operations and special items, Weyerhaeuser earned $234 million, or 40 cents a share, in the second quarter, exceeding analyst predictions of 35 cents per share. This is up from $183 million, or 33 cents a share, in the same quarter last year.

Net sales from continuing operations rose 5 percent in the second quarter to $1.96 billion from $1.87 billion a year ago, falling short of analysts' estimate of $2.27 million.

"Severe winter weather earlier this year dampened the start of the spring building season," Weyerhaeuser CEO Doyle Simons said Friday.

Last month Weyerhaeuser completed a merger of its home-building subsidiary, Weyerhaeuser Real Estate Company, with TRI Pointe Homes of Irvine, Calif.