UPDATE: Weyerhaeuser Posts Rise in Q1 Earnings

Weyerhaeuser reported a rise in first quarter earnings Friday morning and beat expectations on both the top- and bottom-lines.

For the first quarter of 2013, Weyerhaeuser reported EPS of $0.26 vs. the consensus analyst estimate of $0.22, beating by $0.04. EPS rose slightly by 1.2 percent from the same period a year ago.

Revenue came in at $1.95 billion for the quarter versus the estimated $1.85 billion. Sales were up 31% from the same period a year ago.

Weyerhaeuser shares rose 1.18 percent in the pre-market to $31.75 from Thursday's close of $31.38. Shares are now just marginally below the 52-week high of $31.97.