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Weyerhaeuser Co. (NYSE: WY), Federal Way, Washington, reported first quarter sales of $1.6 billion, an 11.9% decrease year-over-year. The company reported a loss of $289 million, compared to a profit of $269 million during the first quarter of 2018.
"I am proud of our first quarter results, as we delivered strong operating performance, improved financial results in each of our businesses compared with the fourth quarter, repurchased $60 million of common shares, refinanced an upcoming debt maturity, and further reduced our pension liabilities," said Devin W. Stockfish, president and CEO. "Looking forward, we anticipate modest year over year housing growth and expect that building activity will accelerate with improved weather and continued macroeconomic stability.”