of on Thanks, $X.X and us. you Andy. Weyerhaeuser joining net billion. morning, $X.XX for thank everyone, per diluted million sales $XXX or GAAP of share reported Good earnings Yesterday, full year
earnings special for $X.X $XXX totaled million year or year. totaled the full Excluding per EBITDA billion share. items, Adjusted XXXX diluted $X.XX
fourth diluted of For Adjusted $XXX the GAAP increase or million, $X.X quarter. a on over EBITDA sales share $X.XX billion. was XX% earnings of million $XX third net the quarter, we reported per
improvements. value in products acquisitions additional investment Natural the I'll wood excellence levers and our was this we in Solutions solid our Weyerhaeuser their employees in thesis. morning grew of execution serve our their to to our each announced continue Alabama, and operating in through my market by and for gratitude Climate industry-leading across plans our start advanced captured we sincere improvements timberlands what meaningful backdrop. challenging performance a our efforts, very to operational XXXX Through dedication expressing drove collective portfolio, delivered business engineered Notably, expand customers,
$XXX our cash dividend growth of X% these of value support our for $XXX drive million accomplishments, of strategy and XXXX increased including all share shareholders. to results. also and returned by million I'm than proud repurchase. on long-term based our incredibly shareholders of base which We more our
business is segment growth the comment into which on of moving an like within on to our slides. summarized briefly XX results, Before business, I'd initiative Page EWP exciting our earnings
in proprietary to million announced with in the market engineered product timber a state-of-the-art to Arkansas. is and we underserved mass As residential, quarter, approximately industrial an we product will Timberstrand growing versatile facility markets. invest the and facility build Timberstrand applications end wood the The in and $XXX fourth in for U.S. a address plan new
South and showcases Weyerhaeuser's innovation Wood in Products.
Pine expertise Canada product institutional Notably, combined from the research facility to extensive and with we Southern Timberstrand as with Yellow development of primary existing the feedstock. in enable manufacturing our
the Given seamless network. Timberlands its new distribution integration existing with location in Arkansas, deliver facility and will our
the In in material resulting fact, timberlands, for logs of come for in from the our region. of outlet southern XX% sourcing raw fiber Weyerhaeuser an the the new will excellent facility approximately
with this Construction million the year total production, XX facility add of operational, will begin XXXX. doubling in XX%. startup cubic of increasing by Timberstrand offering expected Once Weyerhaeuser's facility approximately EWP capacity company and fully will the feet
from portfolio expected addition, over benefits. with annual upside integration of EBITDA, to In million generate adjusted is additional the $XXX facility
our In We're business quarter online our this starting in look footprint that, bring Timberlands to results, With excited million with comparable forward the increase workforce compared to fourth $XX quarter now to expanding contributed quarter. on EBITDA was the to Arkansas. turn and I'll EBITDA West, new facility Pages and slight Timberlands was to Adjusted XX. through the $XXX a X third quarter. million, to fourth adjusted earnings. third
system. quarter in improved in domestic the responded supply Turning strengthening log prices to demand market. the fourth Log lumber to reduction mills the and a as Western seasonal across
quarter and increased sales logs third our due in realizations were to result, average as pricing moved the higher progressed comparable a domestic said, the quarter substantially December. to As grade mix. for That
moderately increased China. we customers as volumes our as customers we to shipments sales in increase to to reduce reduced domestic moderately shipments customers Our
comparable unit and costs were and and quarter third seasonally road costs lower. forestry were to the haul Per log
Our in fee harvest quarter. days volumes were slightly lower, to fewer largely fourth due the working
In the consumption business. headwinds export fourth our markets log Western to our inventories products soft ongoing customers. due in Japan, quarter remained and finished of to Moving for elevated
As logs a the and volumes average quarter. lower result, compared third sales Japan realizations our slightly were export for to to
quarter imports shipments decreased inventories of market pick share. However, allowing our and European progressed, up lumber as to customers the
quarter. expect demand we for stronger in result, Japanese first a logs our export As the
significantly markets intentionally customers. China, were the stable strategic and from log to volumes That in as our into demand was remained sales ongoing In logs relatively our we flex despite said, consumption fourth customers domestic lower headwinds, China quarter steady. our
average realizations third to comparable were the quarter. Our sales
million to Southern $X compared for quarter. to Timberlands EBITDA Turning the the third South. by increased Adjusted
our muted markets to In mills capacity remained finished third of by was were for markets sawlog was remained driven by the delivered average quarter and programs fiber fourth demand and grade largely Southern contrast, partially the slightly supply logs logs. increased ample holidays. higher align quarter, as our reduction to takeaway On balance, compared around given a stable. in the generally in takeaway realizations log across the lumber Southern seasonal our This driven region, lower steady goods. with sales continued the of mix
fourth were wet North, third forestry due and weather activities given log conditions. harvest and the from conditions. to costs volumes operating comparable road the by certain Our weather fee increased shifted unit costs as the compared Per in the harvest sales fee driven haul adjusted higher slightly quarter volumes regions quarter quarter, prior quarter. to largely favorable and third EBITDA and to the increased In in
energy Turning Pages and largely earnings. $XX and ENR now In Estate Adjusted EBITDA was natural with XX. line quarter Real million, quarter, and contributed third $XX the XX and fourth real to million in results. resources on estate, to
of and outlook. the revised our guidance than million the adjusted For year generated million EBITDA, higher higher year, our slightly $XXX full full segment $XX than initial
value. a with significant real our in business, They HBU transactions were in These in demand and contributions resulting timber results reflect largely increase Climate Solutions Natural estate properties high-value by solid also to year-over-year from premiums our driven for business. pricing significant
a $XX strong mitigation achieved million, we increase where from we contributions business, and As in year for in XXXX, located to Forest our XX, U.S. Page banking and renewables conservation, was by to XX% shown see EBITDA on XXXX, our from continue milestones notable driven issuance the In credit solid Carbon, the NCS compared full primarily demand. adjusted project second including approval
South our of new and in project from issuance a Maine. credits
credits the we voluntary XX,XXX in market. sold fourth In the quarter, approximately
continue strong We integrity. for for and our pricing commitment that quality high given meet and our premium standards see credits projects to developing demand to
have progress. projects rapidly, Forest in currently X additional and our forward, Looking Carbon is pipeline developing we
as development expect portfolio generation of across we to we're the to We've sales quarter, and demand significant in years. credit operations approximately agreements currently in markets a continue for have first we additional opportunities and relative XXXX, expand. increase increase construction. our renewables, solar on commenced For capitalize site the to potential solar positioned large-scale solar In X signed and to well last and continues XX our projects for fourth under sites couple
site operations to additional With wind, project respect an months. in seventh to coming online on expect December and we come in the commenced our
sequestration Turning business. briefly capture our to and carbon
for announced agreements new to with work counterparties additional our and are projects. on closely continue discussions in developers We X the with
CCS permitting a we developed will remain and time. contributor line be expect ultimately growth for has confident While NCS expectations, to particular the be in initial CCS the that to continue to extended our strategy and our projects time over meaningful queue beyond
adjusted million make So track of summary, excellent Natural to in our year. continue $XXX on to we remain Solutions reach end in this the Climate EBITDA we progress of business, and by
been supported credits. That As to businesses. we've said said, largely meaningful by has in all Carbon our Forest growth increase from NCS expect include contributions XXXX along, we early a existing results
beyond the renewables carbon we markets those to across upside see As additional and businesses develop. XXXX, we as continue look
is we Weyerhaeuser. world-class We strong base believe with like this scale the built this opportunity no value commercial deliver to with asset and space focus, expertise capabilities technical company creation or a in and to on at continue team there deep
to XX% Wood to $XXX quarter, increase $XXX through quarter on OSB by XX driven pricing. and third earnings. compared lumber moving Products Adjusted the XX. Pages increase Products contributed Wood was in Now a million, an to EBITDA million largely fourth
to $XX replenish American an market, compared trajectory, Benchmark EBITDA supply increase fourth on upward constraints lumber. million, the a the Starting with quarter. quarter improvement prices North from Fourth combined by entered $XX driven a slight across was quarter largely adjusted buyers third the closures as recent million with demand lean and curtailments in inventories.
months. the typical progressed, signals moderated over building slowdowns As winter the in demand given activity seasonal quarter
year-end result, As slightly January. declined relatively in stable benchmark through and has a pricing remained
quarter. For operating fourth we posture in more adjustments higher in moderately business, to the market-related production following our production were quarter prior normal a as lumber returned volumes the
were quarter. volumes third sales comparable Our the to
manufacturing Unit quarter. slightly average realizations and sales in costs comparable the increased log lower. were X% by were Our costs
pricing million, quarter XX% to adjusted million resilient OSB to third $XX increase Average quarter, construction $XX Turning compared Fourth market benchmark fourth activity single-family increased the demand in and for by the primarily driven OSB. open limited from supply. by was EBITDA quarter.
the to Our lag length with the largely by difference OSB a to for X% average effect the results files, compared order prior quarter, increased sales realizations. our realizations due relative of which in
moderately prior moderately for downtime Fiber were costs annual quarter. higher volumes production comparable planned to lower levels unit manufacturing were costs the and less increased sales were given Our maintenance. as
the of $X for Demand given the sales of products for products. an conditions quarter to as largely On slightly but delivered seasonally Engineered steady increase balance, solid at third attributable progressed. to fourth activity quarter, our million EWP to quarter. outset of quarter, the volumes weather Products increased section favorable Wood was $XX adjusted EBITDA, homebuilding the million third compared softened the compared
adjustments average products price sales as certain most decreased in realizations determined markets. effect Our previously for took
year slightly costs decreased lower the material Our quarter the $X adjusted EBITDA financial compared million by and compared December. and raw turn to I'll to products. third most unit due in to costs quarter first manufacturing full to With improved discuss for volumes, call third In primarily Distribution, quarter, were lower that, seasonally Davie some largely to XXXX items our outlook. and over sales the
