SEATTLE — Weyerhaeuser Co. on Friday reported third-quarter net income of $99 million.
The Seattle-based company said it had profit of 13 cents per share. Earnings, adjusted for nonrecurring gains, were 8 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.
The timber and paper products company posted revenue of $1.67 billion in the period. Weyerhaeuser shares have increased 33 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 20 percent.
