EarningsQ2 2026 Earnings Report

Weyerhaeuser (WY) Q2 2026 Earnings Report

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Previous Report: Q1 2026

MX:WY Q2 2026 EPS Results

Actual EPS$2.34

Consensus EPS$1.40

Beat/MissBeat by +$0.94

One Year Ago EPS$2.16

MX:WY Q2 2026 Revenue Results

Actual Revenue$33.61B

Expected Revenue$33.30B

Beat/MissBeat by +$317.10M

YoY Revenue Growth-0.90%

Earnings Announcement Details

QuarterQ2 2026

Date07/30/2026

TimeAfter Close

Conference CallThursday, July 30, 2026

MX:WY Upcoming Earnings

Weyerhaeuser's next earnings date is estimated for October 29, 2026, based on past reporting schedules.

Q2 2026 Earnings Call Audio

MX:WY Q2 2026 Earnings Call

0:00 / 0:00

Q2 2026 Earnings Slide Deck

Q2 2026 Earnings Call Summary

Q2 2026

Earnings Call Date:Jul 30, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call balanced clear execution and financial discipline with notable operational and market headwinds. Highlights include solid cash generation (~$400M), an adjusted EBITDA of $310M, strong sequential improvement in Wood Products (lumber realizations +15% and +$46M lumber EBITDA q/q), active portfolio management (29k-acre sale for $114M), and progress on growth initiatives (solar, biocarbon, Monticello). Material lowlights include a weak OSB business (Q2 loss, oversupply), transportation constraints and higher input costs that pressured margins, and continued softness/uncertainty in the housing and R&R markets. Management raised Strategic Land Solutions full-year guidance and reduced near-term financing risk (no 2026 maturities), which supports an overall constructive tone despite segment-level challenges.

Company Guidance

Management guided third-quarter Timberlands results to be slightly higher (earnings before special items and adjusted EBITDA) versus Q2 as all regions improve, with Western fee harvest and domestic sales volumes expected to increase moderately (slightly lower average domestic realizations due to mix), per‑unit log and haul costs modestly down, forestry and road costs seasonally higher, Western export volumes to Japan lower sequentially (one vessel to China planned), Southern realizations comparable with higher fee harvest volumes and slightly lower per‑unit log/haul costs, and Northern fee harvest volumes significantly higher with moderately lower realizations by mix. They raised full‑year 2026 Strategic Land Solutions adjusted EBITDA to approximately $450 million (up $25 million) and now expect SLS basis to be 15%–20% of total SLS sales; Q3 SLS adjusted EBITDA is expected to be roughly $45 million lower and earnings about $30 million lower than Q2 due to timing/mix of real estate sales. For Wood Products, Q3 earnings and adjusted EBITDA are expected to be slightly lower than Q2 excluding price moves, with quarter‑to‑date lumber realizations moderately higher than Q2 and OSB realizations slightly lower; the company expects higher lumber production and sales volumes, slightly lower unit manufacturing costs, moderately higher log costs (primarily Western), OSB slightly higher volumes but higher unit manufacturing and resin costs, engineered wood products with slightly higher realizations and volumes (raw material costs slightly up), and distribution EBITDA slightly up. They reiterated lumber sensitivity (~$50 million of annual EBITDA per $10/mbf move) and noted no remaining 2026 debt maturities, supporting execution of the outlook.

Solid Quarter Financials

GAAP earnings of $162M ($0.23/share) on net sales of $1.9B; non-GAAP earnings excluding a special item of $91M ($0.13/share); adjusted EBITDA of $310M for the quarter.

Wood Products Strong Sequential Improvement

Wood Products adjusted EBITDA of $129M, up $58M versus Q1; lumber adjusted EBITDA of $73M, up $46M quarter-over-quarter; average lumber sales realizations increased ~15% sequentially.

Timberlands Operational Resilience and Portfolio Sale

Timberlands contributed $59M to earnings with adjusted EBITDA of $123M (slight improvement q/q); Western Timberlands adjusted EBITDA rose $9M q/q to $67M; divested 29,000 acres in Oregon for $114M demonstrating active portfolio management.

Strategic Land Solutions Demand and Guidance Raise

SLS contributed $94M to earnings; despite a Q2 adjusted EBITDA decline, management increased full-year SLS adjusted EBITDA guidance to ~$450M (+$25M), and expects basis as % of SLS sales to be 15–20% for 2026.

Cash Generation and Balance Sheet Management

Generated ~ $400M of cash from operations; ended quarter with ~$530M cash and total debt of $5.4B; repaid $250M notes and an additional $122M of maturities in early July; no remaining 2026 maturities and weighted average interest rate reduced >130 bps since 2022.

Return of Capital and Capital Allocation Discipline

Returned $152M via quarterly dividend and repurchased ~$10M in shares in Q2; continuing disciplined allocation with Monticello capex (~$300M in 2026) funded largely by timberland divestiture proceeds.

Progress on Growth Initiatives — Renewables and Biocarbon

Second solar site commenced operations; three additional solar developments under construction; first biocarbon facility (adjacent to McComb mill) has permits and is positioned to begin construction in Q4; CCS partnership with Occidental progressing toward 2029 target.

Engineered Wood Products and Distribution Momentum

Engineered wood products adjusted EBITDA of $54M, up $15M q/q; distribution EBITDA increased modestly due to higher sales volumes; Monticello/TimberStrand demand signals described as strong with additional product opportunities identified.

MX:WY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change
Oct 29, 2026	2026 (Q3)	1.42 / -	1.08	―
Jul 30, 2026	2026 (Q2)	1.40 / 2.34	2.161	8.33% (+0.18)
Apr 30, 2026	2026 (Q1)	1.06 / 1.98	1.981	0.00% (0.00)
Jan 29, 2026	2025 (Q4)	-2.34 / -1.62	1.981	-181.82% (-3.60)
Oct 30, 2025	2025 (Q3)	-1.40 / 1.08	0.9	20.00% (+0.18)
Jul 24, 2025	2025 (Q2)	1.80 / 2.16	3.781	-42.86% (-1.62)
Apr 24, 2025	2025 (Q1)	1.75 / 1.98	2.881	-31.25% (-0.90)
Jan 30, 2025	2024 (Q4)	1.24 / 1.98	2.881	-31.25% (-0.90)
Oct 24, 2024	2024 (Q3)	0.00 / 0.90	5.942	-84.85% (-5.04)
Jul 25, 2024	2024 (Q2)	3.78 / 3.78	5.762	-34.38% (-1.98)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed