SEATTLE — Weyerhaeuser Co. on Friday reported third-quarter profit of $283 million.
On a per-share basis, the Seattle-based company said it had profit of 38 cents. Earnings, adjusted for non-recurring costs and to extinguish debt, were 52 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The timber and paper products company posted revenue of $2.11 billion in the period.
Weyerhaeuser shares have dropped nearly 6% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 2.5%. The stock has dropped 4% in the last 12 months.