Weyerhaeuser expects weak wood products sales for Q1/2024

U.S. timber giant Weyerhaeuser posted a lower adjusted profit on Thursday, hit by weakness in its wood products business. The Seattle, Washington-based firm reported an adjusted net profit of $121 million, or 16 cents per share, for the fourth quarter ended Dec. 31, which was lower than the $171 million, or 24 cents, reported in the prior year quarter. The company said in October it expected lower sales in its wood products segment as cautious buyer sentiment due to a seasonal reduction in housing construction pressured Oriented Strand Board (OSB)  and lumber benchmark prices. "Wood ...