Seattle, Washington-based Weyerhaeuser Company (WY), is one of the world's largest private owners of timberlands, and owns or controls approximately 10.4 million acres of timberlands in the U.S., as well as additional public timberlands managed under long-term licenses in Canada. Valued at $18.1 billion by market cap, the company primarily grows and harvests trees, develops and constructs real estate, and makes a range of forest products. The timber giant is expected to announce its fiscal third-quarter ea ...

Buckhannon, West Virginia, to receive multi-year investment through the company's THRIVE program , /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) today announced a commitment to invest $1 million in Buckhannon, West Virginia, through the company's THRIVE program. The investment will be made over the next several years with input from local elected officials, business leaders, nonprofits, employees and other community partners. Weyerhaeuser launched THRIVE in 2023 to provide targeted assistance to five of ...

Accessibility StatementSkip Navigation Webcast and conference call on October 31 at 7 a.m. PT (10 a.m. ET) For more information contact:Analysts - Andy Taylor, 206-539-3907Media – Nancy Thompson, 919- 861-0342 Also from this source Weyerhaeuser to Host Investor Day on December 11, 2025 SEATTLE, Sept. 25, 2025 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) will release third quarter 2025 results on Thursday, October 30, after the market closes. The company will then hold a live webcast and conference call ...

Core Insights - Weyerhaeuser Company, a leader in sustainable forestry and wood products, will host an Investor Day in New York City on December 11, 2025 [1] Company Overview - Weyerhaeuser Company is recognized as a global leader in sustainable forestry, land management, and wood products manufacturing [1] Event Details - The Investor Day is scheduled to begin at 9 a.m. on December 11, 2025, in New York City [1]

Core Insights - Weyerhaeuser Company (WY) is a major player in the timberland ownership sector, controlling approximately 10.4 million acres in the U.S. and additional public timberlands in Canada, with a market cap of $17.9 billion [1][2] Group 1: Company Overview - Weyerhaeuser is classified as a large-cap stock, emphasizing its significant size and influence within the REIT-specialty industry [2] - The company benefits from extensive timberland holdings, ensuring a sustainable supply of raw materials and enhancing its reputation for environmental stewardship [2] - Operational efficiency is a key strength, allowing the company to optimize production, reduce waste, and lower costs, which supports competitive pricing [2] Group 2: Stock Performance - WY stock has experienced a decline of 26.7% from its 52-week high of $34.03, reached on September 27, 2024 [3] - Over the past three months, WY has underperformed, with a 6.6% decline compared to the Nasdaq Composite's 13.4% gains [3] - Year-to-date, shares have dipped 11.4%, and over the past 52 weeks, they have fallen 23.3%, lagging behind the Nasdaq's YTD gains of 15.7% and 27% returns [4] Group 3: Market Challenges - The underperformance of WY is attributed to seasonal declines in construction projects and lumber demand, alongside ongoing U.S.-Canada tariff issues affecting lumber prices [5] - These challenges may result in lower wood prices, increased price variance in the lumber futures market, and higher costs in the Timberlands segment [5] Group 4: Recent Financial Performance - On July 25, WY reported Q2 results, with an EPS of $0.12, surpassing Wall Street expectations of $0.10, and revenue of $1.9 billion, exceeding forecasts of $1.8 billion [6]

Core Viewpoint - Weyerhaeuser Company has completed the sale of its lumber mill in Princeton, British Columbia, to the Gorman Group, which includes associated timber licenses that will transfer separately in the coming months [1][2]. Company Overview - Weyerhaeuser Company is one of the largest private owners of timberlands, controlling approximately 10.4 million acres in the U.S. and additional public timberlands in Canada [3]. - The company generated $7.1 billion in net sales in 2024 and employs around 9,400 people globally [3]. - Weyerhaeuser operates as a real estate investment trust and is listed on the New York Stock Exchange under the symbol WY [3]. Transaction Details - Weyerhaeuser received approximately $60 million USD from the sale of the lumber facility, with additional proceeds expected from the timber license transfer [2]. - The company recognized a gain on the sale and anticipates a tax liability of about $11 million USD related to the transaction [2]. Gorman Group Overview - The Gorman Group is a family-owned company with operations in Southern British Columbia and northern Washington state, employing 900 people [4]. - Founded in 1951, the Gorman Group focuses on high-value lumber products for home finishing and renovation markets [4].

Group 1 - The Hecht Commodity Report is a comprehensive source for commodities analysis, covering market movements of over 29 different commodities and providing various trading recommendations [1][3] - Lumber is identified as a critical industrial commodity essential for construction, with its futures traded on the Chicago Mercantile Exchange, characterized by high volatility due to illiquidity [2] - The report offers actionable ideas for traders and investors, including bullish, bearish, and neutral calls, along with directional trading recommendations [1][3] Group 2 - The author of the report actively participates in commodities markets through futures, options, ETFs, ETNs, and commodity equities, with positions that can change intraday [4] - The report emphasizes that past performance does not guarantee future results, and it does not provide specific investment advice tailored to individual investors [5]

[Part I – Financial Information](index=3&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) This section provides a comprehensive overview of the company's financial performance, statements, and disclosures [Financial Statements](index=3&type=section&id=Item%201.%20FINANCIAL%20STATEMENTS) Net sales and earnings decreased for Q2 and YTD 2025, with Q2 net earnings at **$87 million** and total assets slightly declining to **$16.48 billion** Consolidated Statement of Operations Highlights | DOLLAR AMOUNTS IN MILLIONS, EXCEPT PER-SHARE | Q2 2025 ($ millions) | Q2 2024 ($ millions) | YTD 2025 ($ millions) | YTD 2024 ($ millions) | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $1,884 | $1,939 | $3,647 | $3,735 | | **Operating income** | $178 | $270 | $357 | $466 | | **Net earnings** | $87 | $173 | $170 | $287 | | **Earnings per share, diluted** | $0.12 | $0.24 | $0.23 | $0.39 | Consolidated Balance Sheet Highlights | DOLLAR AMOUNTS IN MILLIONS | June 30, 2025 ($ millions) | Dec 31, 2024 ($ millions) | | :--- | :--- | :--- | | **Total current assets** | $1,758 | $1,748 | | **Total assets** | $16,478 | $16,536 | | **Total current liabilities** | $1,694 | $977 | | **Total liabilities** | $6,954 | $6,815 | | **Total equity** | $9,524 | $9,721 | Consolidated Statement of Cash Flows Highlights (Year-to-Date) | DOLLAR AMOUNTS IN MILLIONS | YTD June 2025 ($ millions) | YTD June 2024 ($ millions) | | :--- | :--- | :--- | | **Net cash from operations** | $466 | $556 | | **Net cash from investing activities** | $(208) | $(220) | | **Net cash from financing activities** | $(350) | $(503) | | **Net change in cash** | $(92) | $(167) | [Note 2: Business Segments](index=9&type=section&id=NOTE%202%3A%20BUSINESS%20SEGMENTS) Q2 2025 segment earnings: Timberlands **$88 million**, Real Estate & ENR **$106 million**, Wood Products **$46 million**, with notable shifts from Q2 2024 Net Contribution to Earnings by Segment (Q2 2025 vs Q2 2024) | DOLLAR AMOUNTS IN MILLIONS | Q2 2025 ($ millions) | Q2 2024 ($ millions) | | :--- | :--- | :--- | | **Timberlands** | $88 | $81 | | **Real Estate & ENR** | $106 | $59 | | **Wood Products** | $46 | $196 | | **Unallocated Items (Charge)** | $(75) | $(63) | Total Assets by Segment | DOLLAR AMOUNTS IN MILLIONS | June 30, 2025 ($ millions) | Dec 31, 2024 ($ millions) | | :--- | :--- | :--- | | **Timberlands and Real Estate & ENR** | $12,455 | $12,545 | | **Wood Products** | $3,278 | $3,116 | | **Unallocated items** | $745 | $875 | | **Consolidated** | $16,478 | $16,536 | [Note 4: Net Earnings Per Share and Share Repurchases](index=12&type=section&id=NOTE%204%3A%20NET%20EARNINGS%20PER%20SHARE%20AND%20SHARE%20REPURCHASES) The company completed its 2021 **$1 billion** share repurchase program and initiated a new **$1 billion** program in Q2 2025, repurchasing **$100 million** in shares - On May 8, 2025, the board approved a new **$1 billion** share repurchase program (the 2025 Repurchase Program), terminating the completed 2021 program[38](index=38&type=chunk) - During Q2 2025, the company repurchased **3.9 million** common shares for approximately **$100 million** Year-to-date 2025 repurchases totaled **4.7 million** shares for **$125 million**[39](index=39&type=chunk) [Note 8: Long-Term Debt and Line of Credit](index=14&type=section&id=NOTE%208%3A%20LONG-TERM%20DEBT%20AND%20LINE%20OF%20CREDIT) The company repaid **$210 million** in debentures, secured a new **$300 million** term loan, and expanded its revolving credit facility to **$1.75 billion** - In Q1 2025, repaid **$139 million** 8.50% debentures and **$71 million** 7.95% debentures at maturity[46](index=46&type=chunk) - Entered into a new **$300 million** senior unsecured term loan maturing in April 2030[46](index=46&type=chunk) - In June 2025, the revolving credit facility was amended, extending the expiration to June 2030 and increasing borrowing capacity to **$1.75 billion** No borrowings were outstanding as of June 30, 2025[47](index=47&type=chunk) [Note 15 & 16: Acquisitions and Divestitures](index=17&type=section&id=NOTE%2015%3A%20TIMBERLAND%20ACQUISITIONS) The company is acquiring **117,000 acres** of timberlands for **$375 million** and divesting the Princeton lumber mill for **$85 million** - Announced the acquisition of **117,000 acres** of timberlands in North Carolina and Virginia for approximately **$375 million**, expected to close in Q3 2025[65](index=65&type=chunk) - Agreed to sell the Princeton lumber mill for approximately **$85 million** As of June 30, 2025, assets held for sale related to this divestiture totaled **$65 million**[67](index=67&type=chunk)[68](index=68&type=chunk) [Management's Discussion and Analysis (MD&A)](index=18&type=section&id=Item%202.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS%20%28MD%26A%29) Q2 2025 performance decline attributed to lower Wood Products and Timberlands sales, partially offset by Real Estate & ENR gains, while maintaining strong liquidity [Economic and Market Conditions](index=19&type=section&id=ECONOMIC%20AND%20MARKET%20CONDITIONS%20AFFECTING%20OUR%20OPERATIONS) Q2 2025 saw a **5.3%** decrease in U.S. housing starts and lower lumber/OSB prices due to elevated mortgage rates, though long-term housing fundamentals remain favorable - U.S. housing starts for Q2 2025 averaged **1.3 million units**, a **5.3%** decrease from Q1 2025 Single-family starts, a key driver for the business, decreased **9.5%**[75](index=75&type=chunk) - In Q2 2025, the Random Lengths Framing Lumber Composite price averaged **$453/MBF**, and the OSB Composite averaged **$304/MSF**, with both decreasing through the quarter[77](index=77&type=chunk) - 30-year mortgage rates increased slightly from **6.7%** in Q1 2025 to **6.8%** in Q2 2025, impacting housing affordability[82](index=82&type=chunk) [Consolidated Results of Operations](index=20&type=section&id=CONSOLIDATED%20RESULTS) Q2 2025 consolidated net sales decreased 3% to **$1.88 billion** and net earnings dropped 50% to **$87 million**, driven by Wood Products and Timberlands declines Consolidated Results Summary (Q2 2025 vs Q2 2024) | DOLLAR AMOUNTS IN MILLIONS | Q2 2025 ($ millions) | Q2 2024 ($ millions) | Change ($ millions) | | :--- | :--- | :--- | :--- | | **Net sales** | $1,884 | $1,939 | $(55) | | **Operating income** | $178 | $270 | $(92) | | **Net earnings** | $87 | $173 | $(86) | - The **$92 million** decrease in operating income was primarily due to a **$79 million** decrease in consolidated gross income and a **$25 million** product remediation recovery recorded in Q2 2024[89](index=89&type=chunk) [Segment Performance: Timberlands](index=21&type=section&id=TIMBERLANDS) Timberlands segment earnings increased to **$88 million** in Q2 2025 despite a 9% decrease in net sales, driven by lower costs of sales Timberlands Segment Results (Q2 2025 vs Q2 2024) | DOLLAR AMOUNTS IN MILLIONS | Q2 2025 ($ millions) | Q2 2024 ($ millions) | Change ($ millions) | | :--- | :--- | :--- | :--- | | **Total sales** | $529 | $555 | $(26) | | **Costs of sales** | $416 | $450 | $(34) | | **Operating income** | $88 | $80 | $8 | - Net sales to unaffiliated customers decreased by **$36 million** (**9%**), primarily from a **14%** decrease in Western log sales volumes and a **4%** decrease in sales realizations[96](index=96&type=chunk) [Segment Performance: Real Estate, Energy & Natural Resources](index=23&type=section&id=REAL%20ESTATE%2C%20ENERGY%20AND%20NATURAL%20RESOURCES) Real Estate & ENR segment operating income surged 80% to **$106 million** in Q2 2025, driven by a 41% increase in net sales from higher per-acre prices Real Estate Sales Statistics (Q2 2025 vs Q2 2024) | | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | **Acres sold** | 24,103 acres | 37,665 acres | (13,562) acres | | **Average price per acre** | $4,757 | $2,062 | $2,695 | - Net sales increased by **$45 million** (**41%**) primarily due to the higher average price per acre[106](index=106&type=chunk) [Segment Performance: Wood Products](index=24&type=section&id=WOOD%20PRODUCTS) Wood Products operating income fell 77% to **$46 million** in Q2 2025, mainly from lower OSB sales realizations, partially offset by structural lumber gains Wood Products Segment Results (Q2 2025 vs Q2 2024) | DOLLAR AMOUNTS IN MILLIONS | Q2 2025 ($ millions) | Q2 2024 ($ millions) | Change ($ millions) | | :--- | :--- | :--- | :--- | | **Total Net Sales** | $1,357 | $1,421 | $(64) | | **Operating income** | $46 | $196 | $(150) | - Oriented strand board sales decreased by **$83 million** due to a **31%** decrease in sales realizations[117](index=117&type=chunk) - Structural lumber sales increased by **$82 million**, driven by an **8%** increase in sales realizations and a **7%** increase in sales volumes[114](index=114&type=chunk) [Liquidity and Capital Resources](index=27&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) The company maintains strong liquidity with **$592 million** cash and a **$1.75 billion** credit facility, projecting **$400 million** in 2025 capital expenditures - As of June 30, 2025, the company had **$592 million** in cash and cash equivalents and **$1.75 billion** of availability on its line of credit[133](index=133&type=chunk) - Announced a plan to invest approximately **$500 million** to build a new TimberStrand® facility in Monticello, Arkansas, with construction beginning in 2025[137](index=137&type=chunk) - Anticipated capital expenditures for 2025 are approximately **$400 million**, excluding about **$130 million** for the Monticello facility investment[138](index=138&type=chunk) [Performance and Liquidity Measures (Non-GAAP)](index=30&type=section&id=PERFORMANCE%20AND%20LIQUIDITY%20MEASURES) Consolidated Adjusted EBITDA for Q2 2025 was **$336 million**, down from **$410 million**, primarily due to Wood Products, while Adjusted FAD was **$311 million** Adjusted EBITDA by Segment (Q2 2025 vs Q2 2024) | DOLLAR AMOUNTS IN MILLIONS | Q2 2025 ($ millions) | Q2 2024 ($ millions) | Change ($ millions) | | :--- | :--- | :--- | :--- | | **Timberlands** | $152 | $147 | $5 | | **Real Estate & ENR** | $143 | $102 | $41 | | **Wood Products** | $101 | $225 | $(124) | | **Unallocated Items** | $(60) | $(64) | $4 | | **Total Adjusted EBITDA** | $336 | $410 | $(74) | Adjusted FAD Reconciliation (Q2) | DOLLAR AMOUNTS IN MILLIONS | Q2 2025 ($ millions) | Q2 2024 ($ millions) | | :--- | :--- | :--- | | **Net cash from operations** | $396 | $432 | | **Capital expenditures** | $(107) | $(91) | | **Adjustments** | $22 | $(25) | | **Adjusted FAD** | $311 | $316 | [Quantitative and Qualitative Disclosures About Market Risk](index=33&type=section&id=Item%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) The company's primary market risk is interest rate exposure on its **$5.2 billion** long-term debt, comprising **$4.66 billion** fixed-rate and **$550 million** variable-rate Long-Term Debt Obligations as of June 30, 2025 | DOLLAR AMOUNTS IN MILLIONS | Total ($ millions) | Fair Value ($ millions) | | :--- | :--- | :--- | | **Fixed-rate debt** | $4,655 | $4,606 | | **Variable-rate debt** | $550 | $550 | [Controls and Procedures](index=33&type=section&id=Item%204.%20CONTROLS%20AND%20PROCEDURES) As of June 30, 2025, disclosure controls and procedures were effective, with no material changes to internal control over financial reporting - The company's principal executive and financial officers concluded that disclosure controls and procedures were effective as of June 30, 2025[166](index=166&type=chunk) - No material changes occurred in the company's internal control over financial reporting during Q2 2025[167](index=167&type=chunk) [Part II – Other Information](index=33&type=section&id=PART%20II%20%E2%80%93%20OTHER%20INFORMATION) This section provides additional disclosures including legal proceedings, risk factors, equity security purchases, and other relevant information [Legal Proceedings](index=33&type=section&id=Item%201.%20LEGAL%20PROCEEDINGS) Management believes no current legal proceedings will have a material adverse effect on the company's financial condition or operations - Management does not believe any current legal proceedings will have a material adverse effect on the company's consolidated financial statements[53](index=53&type=chunk) [Risk Factors](index=33&type=section&id=Item%201A.%20RISK%20FACTORS) No material changes were reported regarding the risk factors disclosed in the 2024 Annual Report on Form 10-K - No material changes were reported with respect to the risk factors disclosed in the 2024 Annual Report on Form 10-K[169](index=169&type=chunk) [Issuer Purchases of Equity Securities](index=34&type=section&id=Item%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) In Q2 2025, the company repurchased **3.9 million** shares for **$100 million**, completing its 2021 program and initiating a new **$1 billion** repurchase program Share Repurchases During Q2 2025 | Period | Total Shares Purchased | Average Price Paid ($) | | :--- | :--- | :--- | | April 1 – April 30 | 2,671,016 | $25.64 | | May 1 – May 31 | 944,400 | $25.90 | | June 1 – June 30 | 273,516 | $26.13 | | **Total** | **3,888,932** | **$25.74** | - A new **$1 billion** share repurchase program was approved on May 8, 2025 As of June 30, 2025, **$974 million** remained authorized for repurchases[171](index=171&type=chunk)[172](index=172&type=chunk) [Other Information](index=34&type=section&id=Item%205.%20OTHER%20INFORMATION) No director or officer adopted, modified, or terminated a Rule 10b5-1 trading plan during Q2 2025 - No director or officer adopted, modified, or terminated a Rule 10b5-1 trading plan in Q2 2025[173](index=173&type=chunk) [Exhibits](index=35&type=section&id=Item%206.%20EXHIBITS) The report includes key exhibits such as the Amended and Restated Revolving Credit Facility Agreement, CEO/CFO certifications, and XBRL data files - Key exhibits include the Amended and Restated Revolving Credit Facility Agreement (10.1), CEO and CFO certifications (31.1, 31.2), and XBRL filings[174](index=174&type=chunk)

Core Insights - Weyerhaeuser Company (WY) reported second-quarter 2025 results with earnings and net sales exceeding Zacks Consensus Estimates [1][5] - Year-over-year, both earnings and net sales declined due to lower domestic sales realizations and increased costs in the Timberlands segment [2][10] Financial Performance - Adjusted earnings were 12 cents per share, beating the consensus estimate of 10 cents by 20%, but down 42.9% from 21 cents in the previous year [5][10] - Net sales reached $1.88 billion, surpassing the consensus mark of $1.83 billion by 2.7%, but down 2.8% from $1.94 billion in the same quarter last year [5][10] - Adjusted EBITDA was $336 million, an 18% decrease from $410 million in the year-ago period [5] Segment Performance - Timberlands segment net sales were $529 million, down from $555 million year-over-year, with adjusted EBITDA of $152 million, up 3.4% from $147 million [6] - Real Estate, Energy, and Natural Resources segment saw net sales of $154 million, a 41.3% increase from $109 million year-over-year, with adjusted EBITDA of $143 million, up from $102 million [7] - Wood Products segment sales totaled $1.357 billion, down 4.5% from $1.421 billion year-over-year, with adjusted EBITDA of $101 million, down 55.1% from $225 million [8] Outlook - For Q3 2025, the Timberlands segment is expected to see earnings and adjusted EBITDA approximately $10 million lower than Q2 due to cost pressures [12] - The Real Estate, Energy, and Natural Resources segment anticipates earnings to be about $60 million lower than Q2, with adjusted EBITDA expected to decrease by about $80 million [13] - Wood Products segment is expected to maintain comparable earnings and adjusted EBITDA levels to Q2, excluding changes in average sales realizations [14] Financial Position - As of June 30, 2025, Weyerhaeuser had cash and cash equivalents of $592 million, down from $684 million at the end of 2024, and net long-term debt of $4.27 billion, down from $4.87 billion [11]

Financial Data and Key Metrics Changes - Weyerhaeuser reported second quarter GAAP earnings of $87 million or $0.12 per diluted share on net sales of $1.9 billion, with adjusted EBITDA totaling $336 million, a slight increase over the first quarter of 2025 [5][24] - Cash from operations was $396 million, ending the quarter with approximately $600 million in cash and total debt of just under $5.2 billion [24][26] - Share repurchase activity totaled $100 million in the second quarter, marking the highest quarterly level since late 2022 [24] Business Line Data and Key Metrics Changes - Timberlands contributed $88 million to second quarter earnings, with adjusted EBITDA of $152 million, a $15 million decrease compared to the first quarter, primarily due to higher costs in Western operations [10] - Real Estate, Energy, and Natural Resources contributed $106 million to second quarter earnings and $143 million to adjusted EBITDA, with a $61 million increase from the prior quarter driven by the timing and mix of real estate sales [14] - Wood Products contributed $46 million to second quarter earnings and $101 million to adjusted EBITDA, with a $29 million decrease compared to the first quarter due to lower product pricing and slightly higher log costs [15][18] Market Data and Key Metrics Changes - Log demand in the Western domestic market was healthy at the start of the second quarter but weakened as the quarter progressed, leading to lower log prices [10] - In Japan, log markets remained stable, with average sales realizations for export logs increasing moderately compared to the first quarter [11] - Southern sawlog demand was muted in the second quarter, while demand for fiber logs improved as mills transitioned from spring maintenance outages [12] Company Strategy and Development Direction - The company is acquiring 117,000 acres of timberlands in North Carolina and Virginia for $375 million, expected to enhance its footprint in a growing sawlog and fiber market [6][8] - Weyerhaeuser aims to achieve a multi-year target of $1 billion in investments to grow its timberlands portfolio by the end of 2025 [8] - The company is committed to active portfolio management, including targeted acquisitions and divestitures of non-strategic acreage [7][9] Management's Comments on Operating Environment and Future Outlook - Management noted that the housing market has softened, with total housing starts averaging 1.3 million units in the second quarter, impacted by weaker consumer confidence and elevated mortgage rates [38] - There is optimism for potential catalysts for improvement in the second half of the year, including clarity on tax bills and possible Fed support on interest rates [39] - The long-term fundamentals for a strong housing market remain intact, supported by favorable demographic trends and an underbuilt housing stock [40] Other Important Information - The company expects third quarter earnings and adjusted EBITDA for Timberlands to be approximately $10 million lower compared to the second quarter, driven by lower sales realizations and higher costs [28] - Capital expenditures were $107 million in the second quarter, with a total investment for the new engineered wood products facility in Arkansas expected to be approximately $500 million through 2027 [26][27] Q&A Session Summary Question: Outlook for Wood Products segment and operational excellence - Management emphasized the importance of operational excellence and flexibility to navigate down cycles, focusing on cost control and production alignment with demand [50][52] Question: Timberland acquisition environment - The Timberlands market is described as solid, with expectations for continued strong demand for timberland packages despite a potential decrease in overall transaction volume [54][55] Question: EWP pricing trends and catalysts for reversal - The decline in EWP pricing is attributed to a slowdown in single-family construction, with potential catalysts for recovery including increased housing activity and repair and remodel demand [64][66] Question: Impact of the "big beautiful bill" on natural climate solutions - The bill is viewed as a net positive for Weyerhaeuser, with ongoing projects expected to align with new incentives for renewable energy [74][76] Question: Current market conditions for lumber - Lumber pricing dynamics are influenced by anticipated duties and production adjustments, with expectations for pricing to stabilize and potentially increase in the fall [81][84] Question: Divestiture funding for acquisitions - The acquisition will be funded primarily through divestitures of non-core timberlands, with a focus on completing transactions within a specified timeline [98][99]