winter results XX%. by third and of operational proud our chain superior ago reported morning, current financial throughout Thanks, and a of highest surpassing disruptions everyone, the $X.XX XXXX EBITDA compared doing diluted our the to million billion, earnings and quarter for of these Adjusted The and $X.X well market was per year of Beth. This quarter XX% favorable team, the increase last extremely I'm or hard on morning, work $XXX us fourth on $X.X Good on value supply billion. XXX% Weyerhaeuser of on record, increase by over been capitalize quarter net adjusted first the sales EBITDA share quarter. conditions delivering for net over XXXX you we've remain notwithstanding several joining represents and us thank years a challenges the today. quarterly This the positioned weather shareholders. to quarter. delivered the has we focused
deliver transitioned brings pleased across I'm to work Weyerhaeuser real me comments and our meaningful and than Nancy business energy bringing this roles development divestitures, is is align Officer. introduce financial the support first operating Russell more excited into the In management change now as the she to we will resources, benefits and and leadership who Nancy team. XX opportunities. a With our as as organizational confident into our the Additionally, to new dive emerging running Nancy of portfolio team energy estate, excited broad on joined and activities call and equally increasing new umbrella. of years I'll a one Chief results, acquisitions natural the expertise for doing to company's and this welcome role hit CFO. natural ground has very leadership quarter and I'm housing on I'm climate our Weyerhaeuser focus we're the market. his brief in carbon She's onboard, fully make moment, some March first let business other for and but industries. Hagen Loewe solutions under and range Development
but level First since highest million units. February, Single for March the quarter rate a fourth an XXX,XXX adjusted XXXX. reached winter basis, sharply. severe the at June improvement XXXX a weather, highest since of by housing seasonally month in housing briefly driven adjusted starts starts X.X totaled family on rebounded the starts averaged X.X over Activity seasonally dipped million quarter. March units March X% activity on of basis, nearly units in any
quarter Additionally, average highest seasonally by a averaged before permits its the basis, Recession. quarterly and units quarter adjusted housing the on to in million X.X since surging nearly first Great XX% last surpassing
home this key increasing improvement in for Continued demand XXXX. to construction points in indicator leading new
homes post-COVID record strong and flexible demographic new very driving further market outlook housing for strong our arrangements trends, and favorable of low and continued supported housing in resale homebuilder supported federal US larger mobility and sale, fundamentals also stimulus higher tailwinds, Repair improvements drive small by is rising do-it-yourself additional inventory. encouraging existing a increased first remained by the and suburbs, these quarter, favorable continue equity, remodel savings will remodels. unemployment. macroeconomic including work that to limited customers professional projects robust With home GDP trend and from to migration rates activity, sentiment, to supply activity Feedback in and the our shifting indicates from
and remain We remodel expect repair project strong demand to as throughout XXXX continue expand. to backlogs
factors, costs, disruptions and keeping on labor an are of challenges availability. and on from mortgage affordability for eye increasing material home impacts homebuilders We cautionary rates supply certain chain including and prices resulting the rising
fundamentals we believe these outweigh However, headwinds. do supportive considerably the
very for mass With the demand for additional foreseeable prospect products we for and anticipate favorable demand growing future. timber, the a of wood bill federal infrastructure
results. now Turning slides. million through timberlands business to earnings million EBITDA on eight Timberlands compared increased the earnings. $XXX $X of contributed discussion with the begin six quarter our to I'll fourth by our first first Adjusted quarter. quarter pages to
first on the market record supply harvest Turning activity and as strong Log the inventories lumber diameter fourth driving to demand prices. in of maintained domestic market. stronger quarter continued for to Western in larger pricing mills conditions, remained substantially. diameter with timberlands log healthy starting the Similar in to logs salvage an quarter improve salvage in resulted This operations increased abundance throughout smaller as capitalize to demand in logs. Oregon is quarter, the turn
fourth realizations quarter volume log than sales was our Our smaller increased fourth proportion a lower diameter in as comparable operations and salvage to slightly the significantly. greater were volume the resulted quarter Average of logs. mix salvage fee domestic of harvest
not of We and on of XXXX make our experience continue due salvage quarter, Log to quarter. forestry lower the of progress harvested first end the our quarter salvage increased on costs the were seasonally costs We as And first salvage we volume. realizations XX% in plan. any to the the during activity planned quarter. increased approximately during slightly great did and in haul salvage downgrades our logs
a allowed drove to stronger lumber demand for market shortage export remained Japan, Reduced customers US to global and Japan share logs in shipping strong for first our and strong markets quarter. containers into demand Turning lumber our from increase our the markets. logs. In of imports resulting domestic our
to imports. higher Japanese freight export drawn restrictions log but paused compared the quarter Japan, lower the including Average sales persisted, supply increased strong Log our rates. inventories resumed. fourth logs compared import period, March for Lunar at with Chinese as China were in rapidly log ports Australian increased the increased realizations. the as as first New but fourth in headwinds for takeaway ocean Our offset by US this modestly overall of over a realizations lack China logs manufacturing strong was February quarter, container availability in market activity Year volumes, to down the and volumes with remained lumber Similar slight quarter, in moderately on a in increase
pricing sales our intentionally Our capitalize large to the logs. flexed decreased domestic diameter significantly to China volumes to the as strong market on we for volume
to the South. Moving
timberlands $X Southern increased with EBITDA compared the million fourth adjusted quarter.
and strong Southern as and record winter demand by limited was of and pricing also quarter maintenance wet sawlog many demand the market customers. seasonally weather drove fourth log increased our quarter first supply by conditions. strengthened lumber panel as improved following outages in the severe markets Fiber pulp
as and well the costs and operating to sawlog sales higher improved lost slightly were Our favorable Average decreased seasonally. several as in fourth realizations lower fee snow than ice harvest and volume than the slightly forestry realizations we February. fiber log the days due due as fourth quarter mix. was to quarter Road
growing India. we from On demand both China side, continue see and the to export
fourth first in million volumes availability pricing increased timberlands due increased increased compared rates the to Southern $X substantially export to headwinds. quarter were adjusted Northern were log quarter fourth sales but for the and hardwood as to freight the improved realizations quarter, comparable logs. notable EBITDA container
Resources, Natural Estate pages million Real Estate, EBITDA. and million Turning quarter to nine adjusted and and to $XX first and contributed Real $XX ENR Energy XX. earnings to
price timing transactions. real $XX quarter estate heavily Similar to significantly due but compared year to was first than acre still per down the half high was activity weighted to of EBITDA toward adjusted higher sales of fourth substantially than ago. XXXX XXXX, higher quarter year. unusually First the quarter, the is one fourth million our Average
quarter, XX quarter Wood the $XXX and the value Wood to first number included to adjusted million contributed was $XXX XX. in South. EBITDA. of products first earnings fourth products, case As and US pages retail quarter high transactions in million a
the First quarter record, XXXX. and higher in third of which quarter established was quarter the than previous the by XX% adjusted EBITDA quarterly was fourth surpassed XX%
quarter. XXX% for sales Our lumber, The lean EBITDA in highest delivered delicately increased product South in inventory and remained Cost with the significantly in than lumber improvement. and January, following the high the adjusted by across compared strong third strength extremely After with quarter on pullback costs Average first Canadian at the distribution as increase a the lumber remained composite throughout and XXXX. Demand with during price record repair EBITDA quarter. progressed, the achieved markets. in end increased notwithstanding Inventory slightly Average replenish territory and quarterly of distribution XX% our million quarter. fourth compared increased record the quarter a a in quarter as the balanced low fourth reentered buyers continued levels prices for increased quarter, more to with record residential continued quarter OSB lumber increased to slight winter consumption remodel in the first construction severe entered levels. record near businesses framing the end the new the February. during Southern their lines, the the buying XX%. and pricing event $XXX composite weather realizations logs need log channels
the XX%. sales our constraints slightly were decreased entire and in lost in dynamic continued winter realizations strong increased fourth volumes million compared OSB customer unprecedented performed the run Our Sales with the fourth increased for market. to manufacturing planned due the record volumes lumber resin mills. OSB incremental severe reduction to unit Production increased handful a an in EBITDA slightly fourth mills persisted first resulted X% added markets US Southern XX% demand more takeaway chains in days the increase. maintenance offset winter $XX availability in the improved an of downtime quarter to one Limited compared quarter. as the the that quarter. and OSB price quarter. supply production the costs This Average disrupted quarter at with XX% already a setting as with a decreased of weather-related storms improved the in a the weather. OSB temporarily of Average as production compared at compared composite quarter, than compared pricing fourth with pace supply by fourth South. coupled South quarter, lean following with severe by
material transportation availability or first effectively resulting across the in our in navigating quarter. disruption, and did teams fantastic the volumes resin to the market, our no Although mix a supply chain was OSB OSB a impact job challenge of production
compared web of to benefit sales offset fourth quarter, supply. We captured fourth also Engineered volumes oriented result Production downtime. increase a strong from veneer. we from quickly continue by partially I-joists demand products $XX to drove and improved costs decreased slightly and weather-related quarter. sales all as product was our increased August diversify raw million Average for the stock, EBITDA across section to volumes capturing million of resin lines a business the solid strand compared XXXX products a the in our and resin increased benefit In several proactive margins. higher improved benefit the material January. distribution, announced $X products board across to for began This price increase wood to second EBITDA realizations as and continued initiatives
we With in of to one as year target, Turning our excellence OpEx the targeting we're million operational XXXX sharing on target achieve across on some forward $XX look to operational accomplishments focused XXXX year our our us, million progresses. After briefly behind track to quarter to businesses. remain full excellence. and XXXX, $XX exceeding another XXXX
on like to two transactions. comment I'd timberland Finally, briefly recent
the noted As Today, operating we've value and strong footprint. [ph] timberlands. of are holdings. exhibit XX,XXX -- announced acres of accretive and of the evaluating to acquisition existing high our continuously to reported our our opportunities portfolio previously These are Alabama closing previously, noticed quality grow our acres of timberland on optimize we're we that
acres and effort Cascades region Hampton million. West. XXX,XXX our the The announced is manufacturing of We the for multi-year an $XXX Western our a in and portfolio acreage our North North footprint the Washington in with white a agreement in complementary productive of morning optimize sell transaction targeted high strategic to Resources also buyer the elevation large a primarily in Hampton and divestitures part Timberlands our strategically to competitive operating return Cascades to in pleased sources a completes our transaction a capital area. scale to not this is It's region. EBITDA is any least property This to to with of wood with opportunistic high was export disciplined and alternative materially really the contribute including enhance costs customers. portfolio, allocation, priorities future or value. to does does manner. serve even not internal expected redeploy for in of timberlands within and not generate this continue considering grow This mills our line proceeds plan portfolio We're with our
with call outlook. to items So, discuss over I'll that, second turn financial and quarter our to Nancy the some
