Weyerhaeuser(US:WY)2025-04-25 20:29Financial Performance - For the quarter ended March 2025, total net sales were $1,763 million, a decrease of 1.8% from $1,796 million in the same quarter of 2024[28]. - The Timberlands segment generated net sales of $382 million, down from $387 million year-over-year, while the Wood Products segment saw a slight decrease from $1,302 million to $1,287 million[31]. - Gross margin for the quarter ended March 2025 was $335 million, compared to $355 million in the prior year, reflecting a decrease of approximately 5.6%[28]. - Net earnings for the quarter were $83 million, a decline of 27.2% from $114 million in the same quarter of 2024[29]. - The company’s basic earnings per share for the quarter were $0.11, compared to $0.16 in the same quarter of 2024, representing a decline of 31.3%[40]. Cash and Debt Management - The company repurchased 845,049 common shares for approximately $25 million during the first quarter of 2025, with remaining authorization for future repurchases totaling $74 million[38]. - Long-term debt decreased by $139 million in the first quarter of 2025 due to the repayment of debentures, while a new $300 million senior unsecured term loan was established[46]. - The company has no outstanding borrowings on its $1.5 billion revolving credit facility as of March 31, 2025[47]. - The fair value of total debt as of March 31, 2025, was estimated at $5,167 million, slightly above the carrying value of $5,131 million[48]. - The total cash, cash equivalents, and restricted cash decreased to $560 million as of March 31, 2025, from $903 million as of March 31, 2024[65]. Asset and Liability Management - Total assets as of March 31, 2025, were $16,520 million, slightly down from $16,536 million at the end of 2024[30]. - Accrued liabilities decreased to $430 million as of March 31, 2025, down from $512 million as of December 31, 2024, representing a 16% reduction[45]. - The weighted average interest rate for the company's variable-rate debt was 6.27 percent, excluding estimated patronage refunds[136]. Capital Expenditures and Expenses - Capital expenditures for the quarter were $93 million, compared to $79 million in the same quarter of 2024, indicating an increase of 17.7%[29]. - The company reported depreciation, depletion, and amortization expenses of $125 million for both quarters, remaining consistent year-over-year[29]. - Total net periodic benefit cost for pension increased to $22 million in March 2025 from $14 million in March 2024, reflecting a 57.1% increase[43]. - The company recorded environmental remediation charges of $4 million for the quarter ended March 31, 2025, compared to $2 million in the same quarter of 2024[62]. Other Financial Metrics - An unrealized gain of $2 million on forward contracts designated as cash flow hedging instruments was recognized in other comprehensive income for the quarter ended March 31, 2025[50]. - The estimated annual effective tax rate for 2025 differs from the U.S. federal statutory tax rate of 21% primarily due to state and foreign income taxes[64]. - The weighted average fair value of restricted stock units (RSUs) granted in 2025 was $29.92, with 981 thousand RSUs granted[59].