WEYERHAEUSER CO [WY] reports annual net loss of $839.0 million
![WEYERHAEUSER CO [WY] reports annual net loss of $839.0 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FWY.png&w=3840&q=75)
Company Reports Revenue of $7.7 billion
WEYERHAEUSER CO [WY] has reported a net loss of $839.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $7.7 billion
Based in SEATTLE, Washington, WEYERHAEUSER CO operates in the FINANCE sector.
The financial performance of the company for the 12 months ended December 31, 2023, compared to the same period in 2022 and 2021, reflects a trend of declining net sales. In 2023, net sales amounted to $7.674 million, a decrease from $10.184 million in 2022 and $10.201 million in 2021.
Costs of sales stood at $5.992 million in 2023, lower than the figures of $6.564 million in 2022 and $6.103 million in 2021. This resulted in a gross margin of $1.682 million for 2023, significantly down from $3.620 million in 2022 and $4.098 million in 2021.
Operating income also experienced a decline, with $1.186 million in 2023 compared to $3.080 million in 2022 and $3.643 million in 2021. Net earnings for 2023 were reported at $839 million, a decrease from $1.880 million in 2022 and $2.607 million in 2021.
Earnings per share (EPS) for basic and diluted calculations remained constant at $1.15 for 2023, mirroring the figures of $2.53 for 2022 and $3.48 for 2021. The weighted average shares outstanding in thousands also saw stable numbers across the three periods.
In summary, the company faced challenges with declining net sales and profitability in 2023 compared to the previous years, impacting its overall financial performance.
Also Read:
