Weyerhaeuser (WY) FY2019 results: revenue $6.6 billion, down 12.3% on the year
Weyerhaeuser Co. (WY) reported revenue of $6.6 billion for fiscal 2019, the year ended 31 December 2019, down 12.3% on the year before. Net income was -$76 million, and diluted earnings per share $-0.10. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2020.
Revenue
$6.6 billion
-12.3% on the year
FY2012FY2019
Operating margin
9.9%
18.6% a year earlier
FY2012FY2019
Net income
-$76 million
FY2012FY2019
Diluted EPS
-$0.10
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
6,554
7,476
7,196
-12.3%
Cost of revenue
5,412
5,592
5,298
-3.2%
Gross profit
1,142
1,884
1,898
-39.4%
Gross margin
17.4%
25.2%
26.4%
Research and development
6.0
8.0
14.0
-25.0%
Operating income
651
1,394
1,131
-53.3%
Operating margin
9.9%
18.6%
15.7%
Interest expense
378
375
393
+0.8%
Pre-tax income
-213
807
716
Income tax
-137
59.0
134
Effective tax rate
n/a
7.3%
18.7%
Net income
-76.0
748
582
Net margin
-1.2%
10.0%
8.1%
Diluted EPS
-$0.10
$0.99
$0.77
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
966
1,112
1,201
-13.1%
Capital expenditure
57.0
368
358
-84.5%
Free cash flow
909
744
843
+22.2%
Free cash flow margin
13.9%
10.0%
11.7%
Cash from investing
187
-440
367
Cash from financing
-1,348
-1,162
-1,420
Depreciation and amortisation
510
486
521
+4.9%
Share-based compensation
30.0
42.0
40.0
-28.6%
Buybacks
60.0
366
0.0
-83.6%
Dividends paid
1,013
995
941
+1.8%
Dividend per share
$1.36
$1.32
$1.25
+3.0%
Diluted shares, weighted
746m
757m
757m
-1.4%
Shares outstanding at period end
745m
746m
755m
-0.1%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
8,177
9,046
8,899
-9.6%
Debt
6,377
6,646
6,294
-4.0%
Operating lease liabilities
103
n/a
n/a
Finance lease liabilities
20.0
n/a
n/a
Other liabilities
1,729
1,557
2,866
+11.0%
Total liabilities and equity
16,406
17,249
18,059
-4.9%
Fixed assets
1,969
1,857
1,618
+6.0%
Goodwill
n/a
n/a
40.0
Cash and equivalents
139
334
824
-58.4%
Receivables
309
337
396
-8.3%
Inventory
416
389
383
+6.9%
Other assets
13,573
14,332
14,798
-5.3%
Total assets
16,406
17,249
18,059
-4.9%
10-K for the year ended 31 December 2019, filed 14 February 2020: the filing.