UPDATE: Weyerhaeuser Q3 Profit Surges 34%
Weyerhaeuser Co (NYSE: WY) reported a 34% rise in its third-quarter profit.
Weyerhaeuser's quarterly profit surged to $157 million, or $0.27 per share, from $117 million, or $0.22 per share, in the year-ago period.
Its revenue climbed 23% to $2.18 billion. However, analysts were estimating earnings of $0.21 per share on revenue of $2.09 billion.
Weyerhaeuser's gross margin rose to 20.8% from 19.6%.
Weyerhaeuser shares closed at $30.30 yesterday.
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