Weyerhaeuser Outlines Strategy to Drive Growth, Accelerate Shareholder Returns and Enhance ESG Leadership at Investor Day

SEATTLE, Sept. 22, 2021 /PRNewswire/ -- Weyerhaeuser Company (NYSE: WY) will today outline the company's strategy for driving long-term sustainable growth and superior shareholder returns at its 2021 Virtual Investor Day, beginning at 9:30 a.m. Pacific time.

"Over the past 18 months, we have improved Weyerhaeuser's portfolio of assets, strengthened our balance sheet and positioned the company for its next phase of sustainable growth and value creation," said Devin W. Stockfish, president and chief executive officer. "We intend to grow our company and cash flows, improve our competitive position, fully capitalize on increasing demand for our products and capabilities, and unequivocally establish Weyerhaeuser as a premier ESG investment opportunity. These actions will enhance our ability to return capital to shareholders through dividends and opportunistic share repurchases. Looking forward, I am confident in our ability to achieve our new multi-year targets and deliver superior returns for our shareholders."

DRIVING STRATEGIC GROWTH                                       
At today's event, members of Weyerhaeuser's management team will discuss the company's targets for driving strategic growth by year-end 2025, including:

• Growing the company's timberlands portfolio through $1 billion of disciplined investments with strong returns;
• Generating $100 million of Adjusted EBITDA from Natural Climate Solutions, a fivefold increase from current levels;
• Capturing $175 to 250 million of additional operational excellence improvements to maintain and further improve upon Weyerhaeuser's industry leading performance; and
• Organically growing lumber production by 5 percent annually to serve increasing market demand.

RETURNING CASH TO SHAREHOLDERS
In light of its record first-half 2021 cash flow generation, the company is also announcing the following actions, which demonstrate its strong commitment to returning capital to shareholders:

• Declaring a one-time interim supplemental dividend of $0.50 per share, enabling shareholders to benefit from extraordinary market conditions and allowing the company to capitalize on a one-time tax planning opportunity;
• Targeting 5 percent annual growth in the sustainable base dividend from 2022-2025 driven by Timberlands and Natural Climate Solutions growth opportunities; and
• Authorizing a new $1 billion share repurchase authorization.

Additional details regarding the interim supplemental dividend declaration and share repurchase authorization can be found in a separate press release issued today.

ENHANCING ESG LEADERSHIP
The company is taking meaningful action to contribute to climate change solutions and further enhance Weyerhaeuser's reputation as a leading ESG investment opportunity, including:

• Growing the company's Natural Climate Solutions business to capitalize on opportunities associated with emerging carbon markets;
• Leading its sector by aligning carbon disclosures with the future Greenhouse Gas Protocol on Carbon Removals and Land Use;
• Releasing its inaugural carbon record, disclosing that the company is significantly carbon negative and stores billions of metric tons of carbon dioxide equivalents in its U.S. timberlands; and
• Setting a science-based greenhouse gas emissions reduction target that aligns with limiting global warming to 1.5 degrees Celsius and supports the pathway to net-zero.

WEBCAST INFORMATION
To register for the live video webcast, please visit https://wyinvestorday.connectid.cloud/register/ or the homepage of www.weyerhaeuser.com. Presentation materials will be available on the Investor Relations section of www.weyerhaeuser.com, and a replay will be posted following the event.

ABOUT WEYERHAEUSER
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards. We are also one of the largest manufacturers of wood products in North America. Our company is a real estate investment trust. In 2020, we generated $7.5 billion in net sales and employed approximately 9,400 people who serve customers worldwide. We are listed on the Dow Jones Sustainability North America Index. Our common stock trades on the New York Stock Exchange under the symbol WY. Learn more at www.weyerhaeuser.com.

FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURES

This news release contains statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the company's strategic plans, targets and expectations, including without limitation with respect to the following: goals and prospects; business strategies; key initiatives; demand for our products; projections relating to the future growth, value and performance of our timberlands portfolio as well as the future growth and productivity of our wood products businesses; targets for incremental operational excellence improvements; future growth of our cash flows; our cash dividend framework and future growth and sustainability of our quarterly base dividend; plans for future share repurchases; and our new climate solutions business and related plans, including projections for adjusted EBITDA and our greenhouse gas emissions reduction targets.  Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts and may be identified by reference to a future date or time period or our use of certain words in such statements, including without limitation words such as "expect,"  "future," "grow," "growth," "maintain," "plan," "sustainable," "target," "will," and similar words and terms and phrases using such terms and words.  We may refer to assumptions, goals, targets, or expected performance through, or events to occur by or at, a future date, and such references may also constitute forward-looking statements. Forward-looking statements are based on our current expectations and assumptions. The realization of our expectations and the accuracy of our assumptions are subject to a number of risks and uncertainties that are difficult to predict and often are beyond the company's control. These and other factors could cause one or more of our expectations to be unmet, one or more of our assumptions to be materially inaccurate or actual results to differ materially from those expressed or implied in our forward-looking statements or all of the foregoing. These risks and uncertainties include, but are not limited to, those identified in our 2020 Annual Report on Form 10-K, as well as those set forth from time to time in our other public statements and reports, including reports, registration statements, prospectuses, information statements and other filings with the SEC.

It is not possible to predict or identify all risks and uncertainties that might affect the accuracy of our forward-looking statements and, consequently, our descriptions of such risks and uncertainties should not be considered exhaustive. There is no guarantee that any of the events anticipated by these forward-looking statements will occur, and if any of the events do occur, there is no guarantee what effect they will have on the company's business, results of operations, cash flows, financial condition and future prospects. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise.

Also included in this news release are references to Adjusted EBITDA, which is a non-GAAP financial measure. Adjusted EBITDA may not be comparable to similarly named or captioned non-GAAP financial measures of other companies due to potential inconsistencies in how such measures are calculated. Adjusted EBITDA should not be considered in isolation from, and is not intended to represent an alternative to, our GAAP results.

For more information contact:
Analysts – Beth Baum or Andy Taylor, 206-539-3907
Media – Nancy Thompson, 919-861-0342

SOURCE Weyerhaeuser Company

Related Links

http://www.weyerhaeuser.com