SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
the Securities Exchange Act of 1934
April 16, 1996
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(Date of earliest event report)
WEYERHAEUSER COMPANY
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(Exact name of registrant as specified in charter)
Washington 1-4825 91-0470860
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation or Number)
organization)
Tacoma, Washington 98477
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(Address of principal executive offices)
(zip code)
Registrant's telephone number, including area code:
(206) 924-2345
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Item 5. Other Events
On April 16, 1996, Weyerhaeuser Company issued the following press
release announcing its first quarter earnings:
"Weyerhaeuser today reported net earnings of $142 million, or 72 cents
per common share for the first quarter of 1996 as compared with net
earnings of $207 million or $1.00 per common share reported in the
first quarter of 1995.
Net sales in the first quarter of 1996 were $2.6 billion, down 3
percent from the $2.7 billion recorded for the comparable quarter of
1995.
"Our 1996 first quarter results reflected rapidly declining prices
for most pulp, paper and packaging products and significantly lower
wood products prices compared to year ago levels," said John W.
Creighton, president and chief executive officer of Weyerhaeuser
Company. "The falling pulp and paper product prices are resulting
from customers choosing to work off their inventories rather than
placing new orders," he explained.
"Despite recent signs of improvements in pulp and paper shipments,
which indicate that customers may be near the end of depleting their
inventories, we expect continued erosion in our Pulp, Paper and
Packaging segment earnings in the second quarter caused by both lower
average prices and production curtailments," Creighton noted.
"Worldwide economic conditions are uncertain, making it difficult to
determine when things will improve. However, we do anticipate lower
earnings in the second quarter of 1996," Creighton concluded.
Timberlands and Wood Products segment operating earnings were $152
million for the first quarter of 1996, compared with $241 million for
the year-ago quarter.
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Weyerhaeuser's Pulp, Paper and Packaging segment operating earnings
were $162 million for the first quarter of 1996 compared with $208
million for the first quarter of 1995.
Weyerhaeuser Real Estate Company and Weyerhaeuser Financial Services
earned $10 million in the quarter, compared with $4 million in the
year-ago quarter.
Weyerhaeuser Company is one of the largest integrated forest products
companies in the world. Its principal segments are timberlands and
wood products; pulp, paper and packaging; and real estate and
financial services. It is the world's largest private owner of
merchantable softwood timber and producer of softwood lumber and
market pulp. It is also one of North America's largest producers of
forest products and recyclers of office wastepaper, newspaper and
corrugated boxes."
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
WEYERHAEUSER COMPANY
By /s/ K. J. Stancato
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Its: Vice President and Controller
Date: April 23, 1996
