Weyerhaeuser (WY) Q1 FY2026 earnings: revenue $1.7 billion, down 2.0% on the year

Weyerhaeuser Co. (WY) reported revenue of $1.7 billion for Q1 FY2026, the quarter ended 31 March 2026, down 2.0% on the same quarter a year earlier. Net income was $156 million, up 88.0% on the year, and diluted earnings per share $0.22. The figures are the company's own, from the 10-Q it filed with the SEC on 1 May 2026.

Revenue

$1.7 billion

-2.0% on the year · +12.1% on the quarter

Q2 FY2024Q1 FY2026

Operating margin

14.3%

10.2% a year earlier

Q2 FY2024Q1 FY2026

Net income

$156 million

+88.0% on the year · +110.8% on the quarter

Q2 FY2024Q1 FY2026

Diluted EPS

$0.22

+100.0% on the year · +120.0% on the quarter

Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 lowered, 2 new, 1 kept.

Net earnings $156 million, $0.22 diluted: Net earnings were $156 million, or $0.22 per diluted share, against $83 million, or $0.11, in first quarter 2025. Before special items, net earnings were $77 million, or $0.11 per diluted share.
Adjusted EBITDA up 120 percent on Q4: Adjusted EBITDA was $308 million, up from $140 million in fourth quarter 2025.
Strategic Land Solutions lifted by easement deal: Strategic Land Solutions net sales were $207 million and Adjusted EBITDA $193 million, against $95 million in fourth quarter 2025. The rise came from a $94 million Climate Solutions conservation easement deal and real estate timing.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Revenue	1,727	1,541	1,763	+12.1%	-2.0%
Cost of revenue	1,409	1,380	1,428	+2.1%	-1.3%
Gross profit	318	161	335	+97.5%	-5.1%
Gross margin	18.4%	10.4%	19.0%
Research and development	1.0	1.0	1.0	0.0%	0.0%
Operating income	247	251	179	-1.6%	+38.0%
Operating margin	14.3%	16.3%	10.2%
Interest expense	66.0	70.0	66.0	-5.7%	0.0%
Pre-tax income	171	23.0	99.0	+643.5%	+72.7%
Income tax	15.0	-51.0	16.0		-6.2%
Effective tax rate	8.8%	-221.7%	16.2%
Net income	156	74.0	83.0	+110.8%	+88.0%
Net margin	9.0%	4.8%	4.7%
Diluted EPS	$0.22	$0.10	$0.11	+120.0%	+100.0%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free 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	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Operating cash flow	52.0	-114	70.0		-25.7%
Capital expenditure	23.0	14.0	22.0	+64.3%	+4.5%
Free cash flow	29.0	-128	48.0		-39.6%
Free cash flow margin	1.7%	-8.3%	2.7%
Cash from investing	81.0	254	-97.0	-68.1%
Cash from financing	-315	-60.0	-97.0
Depreciation and amortisation	124	129	125	-3.9%	-0.8%
Share-based compensation	13.0	11.0	11.0	+18.2%	+18.2%
Buybacks	10.0	10.0	25.0	0.0%	-60.0%
Dividends paid	151	152	152	-0.7%	-0.7%
Dividend per share	$0.21	n/a	$0.21		0.0%
Diluted shares, weighted	722m	722m	727m	-0.0%	-0.7%
Shares outstanding at period end	721m	721m	726m	+0.1%	-0.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q1 FY2026	Q4 FY2025	Q1 FY2025	On the quarter	On the year
Shareholders' equity	9,439	9,426	9,645	+0.1%	-2.1%
Debt	5,424	5,572	5,167	-2.7%	+5.0%
Operating lease liabilities	n/a	108	n/a
Finance lease liabilities	n/a	14.0	n/a
Other liabilities	1,538	1,493	1,708	+3.0%	-10.0%
Total liabilities and equity	16,401	16,613	16,520	-1.3%	-0.7%
Fixed assets	2,376	2,420	2,333	-1.8%	+1.8%
Cash and equivalents	299	464	560	-35.6%	-46.6%
Receivables	396	303	382	+30.7%	+3.7%
Inventory	659	593	675	+11.1%	-2.4%
Other assets	12,671	12,833	12,570	-1.3%	+0.8%
Total assets	16,401	16,613	16,520	-1.3%	-0.7%

Questions

What was Weyerhaeuser's revenue in Q1 FY2026?

Weyerhaeuser (WY) reported revenue of $1.7 billion for Q1 FY2026, the quarter ended 31 March 2026, down 2.0% on the same quarter a year earlier.

How much did Weyerhaeuser earn in Q1 FY2026?

Net income for Q1 FY2026 was $156 million, up 88.0% on the year, and diluted earnings per share $0.22.

When did Weyerhaeuser report Q1 FY2026 results?

Weyerhaeuser filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 1 May 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	2,206	3,112	2,973	2,276	1,823	1,881	1,997	2,022	1,774	1,796	1,939	1,681	1,708	1,763	1,884	1,717	1,541	1,727	1,867	1,862
Cost of revenue	1,501	1,647	1,789	1,694	1,434	1,512	1,528	1,520	1,432	1,441	1,535	1,431	1,404	1,428	1,559	1,513	1,380	1,409	1,556	1,605
Gross profit	705	1,465	1,184	582	389	369	469	502	342	355	404	250	304	335	325	204	161	318	311	257
Gross margin	32%	47%	40%	26%	21%	20%	23%	25%	19%	20%	21%	15%	18%	19%	17%	12%	10%	18%	17%	14%
R&D	2.0	1.0	2.0	1.0	2.0	2.0	1.0	2.0	2.0	1.0	3.0	1.0	2.0	1.0	1.0	2.0	1.0	1.0	1.0	2.0
Operating income	609	1,344	1,047	457	232	236	319	353	278	196	270	78.0	141	179	178	123	251	247	223	100
Operating margin	28%	43%	35%	20%	13%	13%	16%	17%	16%	11%	14%	5%	8%	10%	9%	7%	16%	14%	12%	5%
Interest expense	77.0	72.0	65.0	67.0	66.0	66.0	70.0	72.0	72.0	67.0	67.0	69.0	66.0	66.0	66.0	71.0	70.0	66.0	66.0	63.0
Pre-tax income	528	980	972	387	-34.0	173	255	293	216	134	206	13.0	74.0	99.0	99.0	39.0	23.0	171	147	25.0
Tax rate	21%	21%	19%	20%	n/a	13%	10%	18%	-1%	15%	16%	-115%	-9%	16%	12%	-105%	-222%	9%	-10%	-144%
Net income	416	771	788	310	11.0	151	230	239	219	114	173	28.0	81.0	83.0	87.0	80.0	74.0	156	162	61.0
Net margin	19%	25%	27%	14%	1%	8%	12%	12%	12%	6%	9%	2%	5%	5%	5%	5%	5%	9%	9%	3%
Diluted EPS	$0.55	$1.03	$1.06	$0.42	$0.02	$0.21	$0.31	$0.33	$0.30	$0.16	$0.24	$0.04	$0.11	$0.11	$0.12	$0.11	$0.10	$0.22	$0.23	$0.08
Operating cash flow	494	957	1,146	562	167	126	496	523	288	124	432	234	218	70.0	396	210	-114	52.0	399	193
Capital expenditure	16.0	20.0	10.0	8.0	15.0	21.0	12.0	9.0	15.0	22.0	9.0	8.0	13.0	22.0	8.0	7.0	14.0	23.0	8.0	7.0
Free cash flow	478	937	1,136	554	152	105	484	514	273	102	423	226	205	48.0	388	203	-128	29.0	391	186
Buybacks	74.0	118	141	143	141	34.0	51.0	24.0	22.0	50.0	49.0	27.0	28.0	25.0	100	25.0	10.0	10.0	10.0	10.0
Dividends paid	502	1,218	134	133	132	799	139	138	140	248	146	145	145	152	152	150	152	151	152	151
Shares outstanding	747m	745m	742m	738m	733m	733m	731m	730m	730m	729m	728m	727m	726m	726m	722m	721m	721m	721m	721m	720m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 1 May 2026: the filing.