* Q2 adj EPS $0.09 vs est $0.10
* Q2 rev up 11 pct to $1.79 bln
July 27 Weyerhaeuser Co's quarterly
profit missed analysts' estimates on higher costs, but the
forest products company said it expects "significantly higher"
earnings from its cellulose unit in the current quarter.
The company, which converted to a real estate investment
trust in 2010, said it was seeing signs of a rebound in the U.S.
A weak real estate market during the past few years had
taken a toll on Weyerhaeuser's timberlands, construction and
wood products sales.
The company expects lower earnings at its wood products
segment, its biggest by sales, in the third quarter due to lower
selling prices for lumber.
Weyerhaeuser, however, expects lower annual maintenance
expense and reduced chemical, energy and fiber costs at its
cellulose unit, which accounts for about a fourth of the
The unit has been the company's breadwinner and counts
Procter & Gamble Co as one its biggest customers. The
world's largest household products maker uses the pulp to make
Second-quarter profit rose to $84 million, or 16 cents per
share, from $10 million, or 2 cents a share, a year earlier.
Excluding one-time items, it earned 9 cents a share.
Analysts on average had expected 10 cents, according to
Thomson Reuters I/B/E/S.
Net sales in the quarter rose 10 percent to $1.79 billion,
slightly above analysts' estimates of $1.75 billion.
Cost of products sold rose 13 percent.
Weyerhaeuser shares, which have risen 23 percent so far this
year, gained nearly one percent in premarket trade. They had
closed at $22.91 on Thursday on the New York Stock Exchange.