Weyerhaeuser Third-Quarter Adjusted EBITDA Rises 14% to $248 Million; Company Sells 81,000 Arkansas Acres

Weyerhaeuser lifted third-quarter adjusted EBITDA 14% from a year earlier to $248 million, even as net earnings fell to $61 million, or 8 cents a diluted share, and the timber company agreed to sell about 81,000 acres of non-core Arkansas timberlands for $146 million, according to the earnings release it filed with an 8-K on Thursday after the market close.

Net sales rose to $1.86 billion from $1.72 billion a year earlier. Net earnings compared with $80 million, or 11 cents a share, in the third quarter of 2025, when results included special items. There were no special items this quarter; earnings before special items were $40 million, or 6 cents a share, a year earlier.

Sequentially, results cooled. Adjusted EBITDA was down from $310 million in the second quarter, and net earnings were down from $162 million.

"Our teams delivered solid operating performance in the third quarter against an increasingly challenging macroeconomic backdrop," President and CEO Devin W. Stockfish said in the release.

Wood products slip, timberlands improve

The Wood Products segment's adjusted EBITDA fell to $91 million from $129 million in the second quarter on net sales of $1.39 billion. Oriented strand board realizations fell 2% from the second-quarter average, and unit manufacturing costs rose because of more extensive planned maintenance and elevated resin costs. Lumber realizations were slightly higher.

Timberlands adjusted EBITDA rose to $133 million from $123 million, helped by significantly higher harvest volumes in the South on more favorable weather. Strategic Land Solutions adjusted EBITDA fell to $86 million from $129 million because of the timing and mix of real estate sales.

Portfolio moves and new businesses

The Arkansas sale is expected to close in the fourth quarter, subject to customary conditions. Weyerhaeuser said it will keep evaluating ways to optimize the return profile of its timberlands while creating flexibility for broader capital allocation and growth priorities.

The company also said it is starting construction on its first biocarbon facility in McComb, Mississippi, and has monetized about 340,000 forest carbon credits so far this year, putting it on pace for the program's highest annual sales volume. It began construction on two more solar sites and signed a geothermal exploration agreement covering about 145,000 acres in Oregon and Washington.

Fourth-quarter outlook

Weyerhaeuser expects fourth-quarter Timberlands earnings and adjusted EBITDA to be comparable to the third quarter. It expects Strategic Land Solutions earnings before special items to be about $35 million lower and adjusted EBITDA about $45 million lower, while keeping its full-year adjusted EBITDA outlook for that segment at about $450 million.

For Wood Products, it anticipates moderately lower fourth-quarter results, excluding changes in lumber and oriented strand board prices.

Operating cash flow was $193 million in the quarter, and adjusted funds available for distribution were $110 million.

By the numbers

• $248 million: third-quarter adjusted EBITDA, up 14% from a year earlier
• $1.86 billion: net sales, up from $1.72 billion
• $0.08: diluted EPS, down from $0.11
• $146 million: price for about 81,000 acres of Arkansas timberlands
• About 340,000: forest carbon credits monetized year to date

Sources

1. Weyerhaeuser Form 8-K with third-quarter 2026 earnings release (Exhibit 99.1), filed Oct. 29, 2026 (accession 0001193125-26-437799)

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