Weyerhaeuser Company (WY) has reported 93.83 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $157 million, or $0.21 a share in the quarter, compared with $81 million, or $0.11 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $167 million, or $0.22 a share compared with $126 million or $0.20 a share, a year ago.

Revenue during the quarter grew 20.50 percent to $1,693 million from $1,405 million in the previous year period.

Cost of revenue rose 15.32 percent or $169 million during the quarter to $1,272 million. Gross margin for the quarter expanded 337 basis points over the previous year period to 24.87 percent.

Total expenses were $1,400 million for the quarter, up 10.58 percent or $134 million from year-ago period. Operating margin for the quarter expanded 741 basis points over the previous year period to 17.31 percent.

Operating income for the quarter was $293 million, compared with $139 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $454 million compared with $336 million in the prior year period. At the same time, adjusted EBITDA margin improved 290 basis points in the quarter to 26.82 percent from 23.91 percent in the last year period.

2Q 2017 Outlook
Weyerhaeuser expects significantly higher earnings and Adjusted EBITDA from the Wood Products segment in the second quarter compared with the first quarter. The company expects higher average sales realizations for lumber, oriented strand board and engineered wood products as well as increased sales volumes.

"I am very pleased with our first quarter performance, as our employees capitalized on operational excellence improvements, merger-related synergies and strengthening market conditions to deliver outstanding results," said Doyle R. Simons, president and chief executive officer. "In addition, we achieved our increased $125 million run-rate merger cost synergy target. Looking forward, we remain relentlessly focused on leveraging merger synergies and operational improvements to drive industry leading performance and superior value for our shareholders."

The company has spent $68 million cash to meet investing activities during the quarter as against cash inflow of $24 million in the last year period.

The company has spent $188 million cash to carry out financing activities during the quarter as against cash outgo of $668 million in the last year period.

Cash and cash equivalents stood at $455 million as on Mar. 31, 2017, up 10.71 percent or $44 million from $411 million on Mar. 31, 2016.

Real estate inventory fell 8.75 percent or $37 million to $386 million on Mar. 31, 2017. Net receivables were at $482 million as on Mar. 31, 2017, up 18.43 percent or $75 million from year-ago. Accounts payable plunged 41.65 percent or $162 million to $227 million on Mar. 31, 2017.

Investments stood at $56 million as on Mar. 31, 2017, down 94.03 percent or $882 million from year-ago.

Total assets declined 12.76 percent or $2,778 million to $19,001 million on Mar. 31, 2017. On the other hand, total liabilities were at $9,786 million as on Mar. 31, 2017, down 14.89 percent or $1,712 million from year-ago.

Return on assets moved up 63 basis points to 1.35 percent in the quarter. At the same time, return on equity moved up 102 basis points to 1.70 percent in the quarter.