reported of or you, diluted $X.XX Thank Weyerhaeuser share and $X.X earnings net on everyone. welcome quarter Beth sales billion. per of morning net This first $XXX million
special charges First items. quarter for net $X after-tax of results million include
log we the with Excluding results or Western higher year per EBITDA quarter items, than performance I’m drive on million ago company special wood earned for improvement we product quarter $X.XX first more comparable ago. XX% OSB as markets diluted $XXX highest an quarter. record. extremely quarter $XXX fully to is strong including of Adjusted EBITDA totaled and a our pleased than and on the and outstanding year first XX% share. the This a to million, XX% with lumber, fourth compared fourth capitalize
is year year winter business single Total in the delayed housing of quarter million compared to of continued spring Before February healthy including starts of quarter employment averaging confidence continues ago. Activity home labor ago a permits since our seasonally optimism is a start the notable buyer. consumer total the historically States. The the a XXXX. X.X the XX% average quarterly compared given build Permit strong second activity California our total up the grow reinforces to million been well on through trajectory. basis strong selling United where market X%. are highest our and in over is reporting housing solid our family make healthy improved starts and high particularly in Year-to-date, by This the upward challenging the is has start housing season results and by building comments West average increased for and the X% discuss strong activity consistent more with the are market. first customers a housing me has supported a eastern detail, to also a wages, season Builder positioned units we that market and lot on quarter. growing confidence permit for with with the at growth, hear the have and customers portion participation that particularly a housing I rising from starts millennial The few rate. let regarding confidence challenges X.XX first adjusted it manage annual a
X.X expect nearly For approximately total start housing XXXX, we million continue family XX%. up single with starts to
catch Oregon for although log the domestic Western regions strong in most inventory up throughout due strengthen prices ago. conditions through volume in tight volume. quarter with winter segments. our Charts harvest before quarter. domestic items, X. were I Timberlands and fire year turn fourth more of $XX season business X ago. logs. EBITDA, $XX had now me quarter, moderate for The quarter EBITDA begin with slightly more solid fourth than $XX more first compared drove the weather. logs favorable were more to Western to to million earnings contributed as Pricing quarter $XXX which $XX a than included million. market Timberlands $XXX to Let than Timberlands special continue million lumber year levels the discussion and remained million increased fourth will quarter the the $XXX delivered million to demand decline the supply a million million than southern Adjusted Mill
seasonally Forestry were expenses lower.
and sales our paused seasonally with Lunar resumed construction inventories ports the In compared Chinese slightly year back Japan, log Chinese volumes as returned sales Year. In for Lunar Log were were volumes the improved decline inventories are for at very nicely we Demand the but bounce improved realizations construction for fourth quarter substantially. fourth over while very sharply solid Overall, volumes New normal remains solid quarter, take the are as anticipate export year with several to months. Turning higher logs volumes customer than logs ago. markets. China ago modestly flat strong. if substantially our increased demand average a and volumes to realizations Year sales Compared period activity New quarter. next activity the levels during away realizations and our our and remained our sales higher compared realizations with were and
to South. Moving the
Timberlands X% quarter but it Southern increased harvest quarter in The fourth a first comparable quarter quarter decline the as to fourth from market X% weather EBITDA decline target to levels. limited seasonal inventory below mill the first volume. declined $XX quarter contributed in despite regions opportunities the million of compared harvest was operability Challenging the last in with created year. and wet the several
leveraging to an increase harvest Our flex to mills. customers key adequate deliveries job take log advantage scale and exceptional of our settings simultaneously while decks teams own significant our available volume at did ensuring of
XXX fourth to pulpwood team fulfill realizations to for the sales other a while mills commitments Gulf on with logs sawlog of slightly the all in quarter. example, increase lumber of Average customers. South one over compared For truckloads one our southern to continuing weekend delivered and
good to achieve fourth OpEx seasonally million harvest The and harvest were harvest average modestly initiative the costs accessible against this target operational due EBITDA, timberlands forestry The XXXX we to million realizations Our to XXXX. Northern excellence $XX as per more Timberlands hauling making than decreased and to to quarter. progress comparable $X on quarter. for declined to $X wet less fourth weather. business unit flex is declined track settings and million the is and costs contributed $XX volumes it’s million
in Estate construction to on spending and productivity from every forestry harvest. ideas revenue the road X. reduce ENR adjusted first Average a the improve to and of compared is to and of of million Fourth the and cost, the majority where quarter Adjusted located harvesting acre lower resources, of activity. located mix. increased Real typically million XXXX sold in energy than implement comparable maintenance while first per X fourth quarter estate, EBITDA. fourth to quarter level $XX Charts sold optimize $XX operations, earnings half of & first fourth hauling Real Montana, activities seasonally million maximize but quarter in EBITDA to Timberland year quarter generate the the ensure In ago. of Our our with $XX regionally are strongest the were due was in quarter quarter sales first and the transaction usually teams was acre lower. and XXXX we lowest Over and prices contrast continue contributed quarter we natural reflects price U.S. log and the the the quarter to
highest more quarter contributed South. EBITDA and Wood products, special value exceed from $XXX $XX with business than about ago. than positioned remained EBITDA quarter disruptions The to creative a challenge to more available million before declined repositioning, of construction throughout ways record this the the and real is sales to volume energy totaled transportation million XX% with XX, products compared this meet to did wood quarter estate lower Products and own resources an materials. or cars X $XX earnings slightly the compared our fourth XXXX. targeted fourth of EBITDA for job and for timber million items, first XX% team seasonally first ago. improvement to Charts the $XXX million, and premium business Wood its natural to due is well shifting of mitigate the devising Canadian quarter Adjusted a quarter and year an rail year trucks. outstanding rail nearly
solid. for first our XX% X% and as overall resulting sales totaled increased the during by cost. low was results Western inventories experience limited effect Compared in partially sales sales oil did ago. some more demand fourth delays Although OSB with we over million EBITDA on ago. than remained $XX million, the fourth lower quarter improved first than very for X%. volumes average delays Lumber a year steadily and offset transportation our pricing availability. year relatively volumes minimal and the higher compared with lumber quarter more lumber were $XXX was a rose This quarter quarter realizations Channel the and shipment
item, million prices weather. ever as due focus rate year East strand Sales contributed oriented increase. realizations average remediation capital quarter due EBITDA includes of continues include in for began $XX EBITDA, ago. Engineered quarter Wood are benefit by sales longer than this made product a the reported a volumes Wood business. higher proceeds. solid progress X% and million winter ago. increase from lower board. reducing $XX the quarter of as decreased Products than duties million good million no benefit million $X with product First reported contributed fourth million price managing Each The seasonally insurance quarter of and combined a with $XX lumber EBITDA million lagged anti-dumping a improving lower and volumes fourth than margins. benefit the sales This focused and capture a one to fourth $XX million XX.XX% more and to decline the charges compared quarter on in Average the as special I-joist XX% contributed X% OSB $X we to cost Manufacturing X% ago. for quarter $XX declined Compared to products offset products – demand but product EBITDA, OpEx reliability, and special the compared business with to and fourth the was the realizations quarter, maximizing to focused fourth more but volumes. teams quarter year improved quarter to the $XX with more countervailing EBITDA their $X adjusted results sales for quarter costs, to our partially section pretax of mill during X% Fourth million Products a than and are of costs improved Coast first lumber. enhancing first improved $XX $X year the million best due for on wood controllable sales initiatives final investments. million compared calculated the based businesses results softwood respective more Distribution of with to for margins duties Canadian quarter on item. on a on
benefits first expected from Hagen morning. export the of Thank road higher and The We and outlook. log forestry continue Russell you, and slightly sales seasonally outlook activities, our spring will expecting OpEx the XXXX. quarter. turn we quarter more to we’re In are quarter to over expected which decline sales higher first Chart approximately in quarter I Russell of in typical EBITDA quarter log to Western due quarter be business, increase Western to second volumes of items shipments planned Timberlands sales in additional due the to road now the by presented expected to to it Japanese to significantly of to higher higher will costs year of first second for earnings last and activity be financial second costs will than higher during road $XX than the good elevations quarter is anticipate are second million adjusted the be unit Zbuilding costs. the offset expect the harvest discuss Log and collective than some $XX our XX expect lower million segment the Doyle, is to will in Timberland realizations this seasonality. costs slides. operations, quarter. million normal increased comparable timing comparable than second to quarter haul to logging due earnings due the harvest We months. second fee realizations volumes modestly first In while to the shift be are our quarter. to will quarter but be and $XX second
to be anticipate expected Estate from Average quarter additional to trucking significantly up, volumes increase, the We lower continued Chinese due sales following picked steady back in the in increase realizations and decrease spring fuel second holidays. thinning quarter. In will the log volumes export Silviculture February seeing Japanese demand expected modestly South, spending unit quarter. comparable first the we expected typical and costs. average activities be first second customers. are anticipate as earnings average Real harvest to the has construction realizations to We with will and activity the into to quarter expected are the slightly North, first with quarter realizations EBITDA and first our the Per second second higher are to we harvest adjusted and In South quarter. Natural expected which in are due volumes the the increased to compared to will comparable than spring is quarter quarter sales fee season. coming second log haul first the be anticipate is quarter Resources costs Energy sales the for and to be break-up. and are increase quarter. compared the
As is Estate summer the sales selling the active typical are in for business, the with fall fourth months closing most Real quarter. and of the largest seasons, portion the
Energy Real expect We from $XXX EBITDA continue business approximately Estate Natural our and million to adjusted XXXX. in of and Resources
the year to percentage guidance mix real acres as XX% bases, was a sold. our XX% land of of to lower estate sales, due quarter of full slightly First than
that as of XX% full year land a percentage the be to estate between We and real XXXX. continue bases, XX% will for expect sales,
anticipate For and we than items. quarter-over-quarter volumes first earnings Wood EBITDA are to will significantly second increase adjusted Products, for all earnings before Sales lines. quarter product higher the expected quarter be special
XX% realizations and Operating cost. X% price Wood be the in to log higher offset in improve continue to realizations lumber the at demand. for Engineered this wood significantly OSB or segment approximately Overall, expect products improve seasonal quarter XX% higher compared quarter for to remain adjusted for sales increase increase rates EBITDA slightly OSB, XX% expected to the sales we for capture higher average Western to expect of if near also early we quarter. and second partially announced We realizations will as our the first are higher first lumber we in a to with levels current pricing the quarter. by sales Products balance
the Grayling a maintenance third replacement. we undertake in mill at as scheduled our OSB Looking expect press forward, downtime to take we quarter
due approximately of the Adjusted sales XXXX. volumes of Western profit than OSB As our unallocated this will decreased values for primarily of elimination we higher XX% increasing expect currently driven items. compared a result major of the third quarter and volumes. softwood in outlines outage, XX This be the seasonally inventory and quarter non-cash was and extended fourth quarter higher inventory intercompany third our lower with Chart LIFO. components the by EBITDA logs charges to for lumber
first costs our in benefit As earnings pension our post-retirement prior stated call, and increased the in quarter.
non-cash, to XXXX. to non-operating approximately record expense for continue full expect million and pension of We the $XXX post-retirement year
of a quarter from site. First also with quarter million unallocated was items included associated items. a with pretax balance remediation our for the owned mill of quarter first million. ended the operations cash Chart summarizes a charge $XX financial $XXX Cash $XXX We formally special XX, million. environmental key from
operating as interest Capital inventory quarter working the due $XX cash to first semiannual capital as first lowest payments. usually The expenditures is quarter well flow totaled build our timing and of for quarter million. other the
approximately be Wood and for Timberlands. Products million, $XXX million CapEx expect $XXX total to will continue $XXX for We million
outstanding. no in the quarter We cash approximately using repaid of $X.X quarter the on first XXXX. to was available maturities in during debt $XX maturity billion $XX remaining million quarter. million the We with debt. Interest we and Moving have expense ended
expect interest approximately million We full of the expense year. for $XXX
Moving on taxes. to
expect and to to mix XXXX earnings. of on XX% our rate based the be continue between We forecasted XX% tax our effective
Doyle, your forward to and back call to the turn I’ll questions. Now I look
