Weyerhaeuser profit soars as housing market strengthens

Fri Apr 26, 2013 4:56am EDT
 
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April 26 (Reuters) - Forest products company Weyerhaeuser Co said its first-quarter net profit more than tripled due to a strong recovery in demand from the U.S. housing market.

Net earnings rose to $144 million, or 26 cents per share, in the first quarter, from $41 million, or 8 cents per share, a year earlier.

Revenue rose 31 percent to $1.95 billion in the first quarter.