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
July 17, 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 July 17, 1996, Weyerhaeuser Company issued the following press
release announcing its second quarter earnings:
"FEDERAL WAY, Wash., July 17, 1996 - Weyerhaeuser today reported net
earnings of $103.2 million, or 52 cents per common share for the
second quarter of 1996 as compared with net earnings of $246.7 million
or $1.21 per common share reported in the second quarter of 1995. Net
sales in the second quarter of 1996 were $2.9 billion, down 4 percent
from the $3 billion recorded for the comparable quarter of 1995.
These results brought 1996 first half earnings per common share to
$1.24, down 44 percent from the $2.21 per common share earned in the
first half of 1995. Net earnings for the 1996 first half were $245
million on net sales of $5.5 billion as compared to $453 million on
net sales of $5.7 billion for the same period of 1995.
`Our 1996 second quarter results reflected lower prices for most pulp,
paper and packaging products compared with the second quarter of
1995,' said John W. Creighton, Jr., president and chief executive
officer of Weyerhaeuser.
`We began to see improvements in pulp and paper shipments in the
second quarter. In April, selective price increases were announced in
some paper products, and on July 1 we raised our selling price for
most grades of pulp. We're encouraged by these increases and if such
trends continue, we will see improvements in the Pulp, Paper and
Packaging results in the next quarter. However, considerable
uncertainty remains around growth in world markets, particularly in
Europe, which is key to the rate of improvement,' Creighton added.
Weyerhaeuser's Pulp, Paper and Packaging segment operating earnings
were $35 million for the second quarter of 1996 compared with $305
million for the second quarter of 1995.
Timberlands and Wood Products segment operating earnings were $217
million for the second quarter of 1996, compared with $188 million for
the year-ago quarter.
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`Our Timberlands and Wood Products segment realized better earnings in
the second quarter of 1996 compared to last year primarily because of
higher lumber prices and improved operating performance. Structural
panels realizations were lower than last year's levels because new
oriented strandboard capacity continues to dampen prices. Lumber
markets are strong, but uncertain, given the recent increases in
mortgage interest rates and their potential impact on construction
activity,' Creighton said.
Weyerhaeuser Real Estate Company and Weyerhaeuser Financial Services
earned $5.5 million in the quarter, compared with $0.7 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: July 17, 1996
