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Weyerhaeuser Company (WY) Q2 2023 Earnings Call Transcript

Jul. 28, 2023 2:35 PM ETWeyerhaeuser Company (WY)1 Comment
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Weyerhaeuser Company (NYSE:WY) Q2 2023 Earnings Conference Call July 28, 2023 10:00 AM ET

Company Participants

Andy Taylor - Vice President of Investor Relations

Devin Stockfish - President and CEO

David Wold - Senior Vice President and Chief Financial Officer

Conference Call Participants

George Staphos - Bank of America

Kurt Yinger - D.A. Davidson

Susan Maklari - Goldman Sachs

Mark Weintraub - Seaport Research Partners

Anthony Pettinari - Citi

Paul Quinn - RBC Capital Markets

Ketan Mamtora - BMO Capital Markets

Michael Roxland - Truist Securities


Greetings, and welcome to the Weyerhaeuser Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]. As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Andy Taylor, Vice President of Investor Relations. Thank you, Mr. Taylor. You may begin.

Andy Taylor

Thank you, Rob. Good morning, everyone. Thank you for joining us today to discuss Weyerhaeuser's second quarter 2023 earnings. This call is being webcast at www.weyerhaeuser.com. Our earnings release and presentation materials can also be found on our website. Please review the warning statements in our press release and on the presentation slides concerning the risks associated with forward-looking statements. As forward-looking statements will be made during this conference call. We will discuss non-GAAP financial measures, and a reconciliation of GAAP can be found in the earnings materials on our website.

On the call this morning are Devin Stockfish, Chief Executive Officer; and Davie Wold, Chief Financial Officer.

I will now turn the call over to Devin Stockfish.

Devin Stockfish

Thanks, Andy. Good morning, everyone, and thank you for joining us. Yesterday, Weyerhaeuser reported second quarter GAAP earnings of $230 million or $0.31 per diluted share on net sales of $2 billion. Excluding special items, we earned $238

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Comments (1)

1) I like the vocabulary of "WILDFIRES" far more than the previous more plebeian forest fires. Be afraid, be very afraid,
2) I must have missed the question where the analyst asked what per centage of Weyerhaeuser's owned and licensed timberland had been ruined or devastated by WILDFIRE and how that was accounted in both long term and carbon scam profits.
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