Weyerhaeuser profits rise on higher sales

FEDERAL WAY, Wash. — Weyerhaeuser reported Q2 net profits of $157 million, up from $133 million a year ago, as sales increased. Earnings of $0.21 per share nearly matched the $0.22 consensus estimate. The results include net charges of $11 million after taxes from special items; without special items, earnings came to $0.17 per share. Also included are earnings of $38 million after taxes from discontinued operations, including Weyerhaeuser’s cellulose fibre business. The company has agreed to sell the segment’s pulp mills and its liquid packaging board business for approximately $2.5 billion.