Weyerhaeuser reports boom quarter

Weyerhaeuser Co. reported Q1 net earnings of $681 million, or $0.91 per diluted share, on net sales of $2.5 billion. That was up from net earnings of $150 million ($0.20) on net sales of $1.7 billion for the same period last year. Earnings more than doubled from $292 million in Q4. Benchmark prices for lumber and oriented strand board reached new record levels in the quarter, boosting average sales realizations in those categories, which were only partially offset by higher prices on Canadian logs.