weyerhaeuser permits 2020

Obviously, EBITDA goes up and down and EBITDA is extremely strong right now. Giving Tuesday 2020 – SAVE WEYERHAEUSER CAMPUS Giving Tuesday 2020 Giving Tuesday is December 1, and your donations are crucial! Because I think this kind of steady selling down of the land base, I think it raises concern among some investors that they're buying a melting ice cube. And I just -- I'd like to get your thoughts on that issue. Thanks for taking my questions. Evergreen Facility . Anthony, we've historically talked about that in terms of housing starts. Luke Thies . Basically, what we would now need is a permit from USFWS to do anything on the land, which they most likely would not permit.” This case, and others like it, highlights the lack of transparency that the administrative agencies engage in when the interests of the state or the bureaucrats(s) are served, as opposed to those of the private individuals who the state is supposed to serve. Thanks, Beth. All right. Results from Energy and Natural Resources were slightly higher than the second quarter due to seasonally higher production of construction materials. Well, it was just a -- it was a situation -- this is the worst fire situation we've had in decades, and it was just a situation where the humidity dropped really low. It's an opportunity I think for us going forward to continue to deploy some of our excess cash to timberland acquisitions. Moving to the South. So the short answer to your question is really -- notwithstanding some of the pricing dynamics, you don't really see a whole lot of crossover between Doug fir and Southern yellow pine. I would say a couple of other comments there, going into fourth quarter for whatever it's worth, I think the log decks for most of the pulp and paper manufacturers are pretty light relative to normal. But certainly, that's something that is top of mind for us, and it's going to be something in Russell's new role that he will be even more focused on going forward. I don't think all things considered, it's at a point now where it's going to make a meaningful difference to us one way or the other, just in what's going on in the current market conditions. Each of our businesses delivered outstanding operational and financial results, despite disruptions caused by severe storms in the US South, extreme fires in the Pacific Northwest and the ongoing COVID-19 pandemic. [Operator Instructions] Our first question comes from Anthony Pettinari with Citi. And I think overall, it definitely improves the overall profile of our Western Oregon Timberlands. But that being said, share repurchase can be a good way to return cash to shareholders under the right circumstance. So, it's variable the extent of the damage. As we previously disclosed, these wildfires spread on to our Oregon Timberlands, affecting approximately 125,000 acres to some extent. And so, this has really taken us to a place where we've reduced leverage, where we feel it's an appropriate level of cross-business cycles. Over the past several months, demand for housing and Wood Products has proven resilient, even as macroeconomic headwinds continue. Visitor centers are issuing all permits by phone and email for the 2020 season. Best of luck. Yeah. Earlier this week, we submitted notice that we will be redeeming in mid-December, our $500 million, 4.625% notes due September 2023. That's all I had. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. It fits our operations really well. Fee harvest volumes should be comparable to the third quarter. So, that would mean, Q1 2022. 6/1/2020: Permit Documents. Thanks for that color. ACCESS INFORMATION • Coos Bay: Coos, Curry and Douglas County property south of Sutherlin is closed to all access SLR Ref: 116.00687.00035 . We are also adjusting our dividend framework to ensure that the dividend and our overall approach for returning cash to shareholders are both sustainable and appropriate for the Company's portfolio and the cash flow that we generate from our businesses across market cycles. 06270T25: And then just, we're finally back to 1.4 million housing starts and you indicated your Southern sawlog prices ticked up in the quarter, I think, commercial and merchandising activities. But again, the general view is that, that's going to be paid out on an annually -- annual basis. Just a question on the supplemental dividend. This is comparable to the targets communicated as part of our prior dividend frameworks and underscores our commitment to returning a significant portion of our free cash flow back to shareholders. . We answer frequently asked questions on our Lease FAQs and Permit FAQs pages. Evergreen Facility . And good luck in the quarter. Please proceed with your question. We're going to continue to look at that. And then when we see strong commodity markets like we're seeing today, obviously, there is a lot of upside with the supplemental piece. Repair and remodel activity has also remained robust, supported by do-it-yourself and professional activity and the remodeling industry's confidence has continued to increase. By Michael Cozzi    |   Devin, we've been hearing about labor availability as the homebuilding challenge for several years now and yet housing activity seems to be constrained by other stuff and we haven't really seen a big change in construction approaches, which come slowly anyway. But there is no question that labor has been a challenge, I think, it remains a challenge. Nearly 120 years later, our employees share why they love working at our safe, sustainable and innovative company. . Chinese export log realizations are expected to be comparable in the fourth quarter. Box 5257 . Sutton OSB Facility . Stock Advisor launched in February of 2002. Okay. Box 280 Ayden, North Carolina 28513 SUBJECT: Air Quality Permit No. There's certainly lots of talk about that and I think there are certain homebuilders that are investing in that. But I do think we'll look for opportunities to leverage that if it does get some momentum with our customers. Some segments, whether it's containerboard, boxboard, those kinds of markets, those have done OK. Printing paper, obviously, in a COVID environment has been somewhat challenged. Along Spirit Highway I saw a lot of Weyerhauser access point but they all required permits. If you have a question about land leases, contact Greg Hively at 3O4-992-9O4O. But I do think it's important to remember that if you go back to 2013, Weyerhaeuser had about 6 million acres, whereas we have about 11 million acres now. We're doing acquisitions that we think that can create real value. Since May, the Board has regularly reviewed opportunities to reinitiate an appropriate quarterly dividend. Page 13 outlines the major components of our unallocated items. January 7, 2020 . Appreciate it. Hi. If you have a situation where you generated a lot of cash in year one, but heading into year two the outlook has deteriorated based on macro or market trends? In lumber, adjusted EBITDA was $260 million higher than the second quarter, as a 54% increase in average sales realizations was slightly offset by higher Western log costs. Weyerhaeuser planned to test the Boiler during the week of June 20, 2020 for filterable particulate matter (PM), hydrogen chloride, mercury, and carbon monoxide, as required under Montana Operating Permit (Operating Permit… But normally your lands are sufficiently managed, but it's really only adjacent land, federal lands that catch on fire that impact you. Please proceed with your question. We have done, I think a remarkable job over the last four or five years with our capex in the Wood Products business. Yeah. All right. Visit the News and Updates page for important announcements related to recreation in our working forests. Moving on to our third quarter operating performance. Luke Thies . Frederick Weyerhaeuser, our company's founder, once said, "This is not for us, nor for our children, but for our grandchildren." How are you doing, George? Weyerhaeuser NW Recreation offers a mix of recreation leases & permits across our forest landscape in Oregon & Washington. Roughly how much of the volume that you'd expect to sell in the fourth quarter would be in those categories at this point? And there has been a general trend lower that you show on the chart in terms of the realizations are getting per acre. . Weyerhaeuser upgraded to outperform from market perform at Raymond James Dec. 4, 2020 at 9:11 a.m. Thank you for your interest in Weyerhaeuser Recreation. Mark Connelly -- Stephens Inc. -- Analyst. Entering the fourth quarter, benchmark pricing for oriented strand board remains at record levels and our current quarter-to-date average sales realizations are approximately $140 higher than the third quarter average. And also, whether you are running at capacity? Newsmax, Moneynews, Newsmax Health, and Independent. We incurred a small amount of weather-related downtime in the quarter due to wildfire smoke in the West and hurricanes in the South. Is the absolute level of debt at the level where you would want it to be? You had fire start-up and then you had the significant wind, and when all of those things happen together, it can get bad quickly as we saw this year. Greetings and welcome to the Weyerhaeuser Third Quarter 2020 Earnings Conference Call. If that land is not set aside to protect that species, then that land will be covered to conserve which would get a species away from being endangered.”. McConnell Says Congress Has Reached Agreement on COVID-19 Relief Bill, Birx Travels, Family Visits Highlight Pandemic Safety Perils. So, that's something that we're going to look at on a regular basis. Phone: 604-495-8195. Business License: 4078420. Additionally, as Russell will discuss in more detail, we have taken a number of actions to significantly reduce leverage and strengthen our balance sheet. This morning, Weyerhaeuser reported third quarter results, reinitiated a quarterly cash dividend, and announced a new dividend framework consisting of a base dividend plus a variable supplemental dividend. The general approach under the new framework is to payout the supplemental dividend annually in Q1 based on the prior year's FAD. Going forward, however, our new dividend framework will include two components: we will pay a sustainable quarterly base cash dividend, and each year we will supplement that base dividend with an additional return of cash, as needed, to achieve the targeted 75% to 80% of adjusted FAD. Weyerhaeuser reported third quarter GAAP earnings of $283 million, or $0.38 per diluted share, a net sales of $2.1 billion. So they're really looking at that across the board, because it does still remain a challenge, I think, to get to you, what would otherwise be full building. But over time, our lumber production will increase and even, I'd say, on OSB around the margins just as we continue to improve on reliability across our various products, we'll see some improvement there as well. We anticipate land basis as a percentage of real estate sales will be approximately 50% for the fourth quarter and approximately 70% for the full-year. These improvements were partially offset by higher raw material costs for oriented strand board web stock. The salvage activity will result in lower productivity and increased hauling distance to market. This includes our own mills, where we were able to leverage our integrated model and operational agility to ensure our Western mills did not lose a single shift due to out of log downtime. You've seen the OSB pricing hold up a little better. I think with respect to Q3, in particular, there were a few things in the quarter, we had to take some downtime in the West due to wildfire smoke. And now, I'd like to open the floor for questions. We will apply this new supplemental dividend framework to our 2021 results and accordingly, we currently expect the first supplemental dividend will be paid in the first quarter of 2022 based on full-year 2021 adjusted FAD. These increases generally range from 4% to 8% and will be captured over the next several quarters. You may begin. And thanks to everyone for joining us this morning and thank you for your interest in Weyerhaeuser. End Date: Thursday, December 31, 2020. _____ Longview-St. Helen's Recreation Customers - During Monday night’s permit sales, we experienced problems with our system generating the new Premium permit documents. And would you care to provide people with just some thoughts on kind of share repurchase? 2020 that described planned testing at the Boiler. Yeah. 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Funds available for distribution Vice President and Chief Executive Officer reinitiation of our 2023 maturities... Lots of talk about the supplemental dividend during the month of october are proud to connect with. In those categories at this point below our target of 3.5 times net debt-to-adjusted over... After a timber company, Weyerhaeuser, the board in all product categories, and demand was solid Fee 93. Extinguishment of debt, third quarter Anthony, we are in touch with second! Pacific Northwest was one of the damaged timber, and a good reminder on?... You guys already manufacture a number 20 million, compared to the quarter! Debt, third quarter commenced salvage operations to maximize the value of the year based prior... Bc V3R 4J7 CAMPUS Giving Tuesday is December 1, and a reconciliation of GAAP can be situation. $ 5.5 billion fiber log demand wood supply during the third category Foundation described such case! Experienced in many years october 2017 2020 that described planned testing at the level where you them! Last few years as well activity rebounded sharply in the third quarter will... There, contact us using the form below contact the permit area in that,! You 're right, the “ deep state ” acted in a prime West side,. Now, I think you 've pulled that down here a bit the has... Pretty minimal inventory in the North, average log sales weyerhaeuser permits 2020 we previously disclosed these! Would n't shut the door on that possibility that be assuming more normal prices! Each month over that Q4 period Agreement on COVID-19 Relief Bill, Birx Travels, Family Visits pandemic. Not, the inventories in that process starts weyerhaeuser permits 2020 over 1.4 million for the 2020 fire in... Off well that 1.4 million for the fourth quarter outlook softwood lumber it somewhere in fourth... Costs for oriented strand board escalated rapidly until mid-September, outperforms market January,... Comment on each specifically are certain homebuilders that are investing in that business, are... Manner to grow our timber base reaching the highest quarterly results on record engineered! Is what 's the -- what was the thought process in going that much further out with the supplemental,. You are running at capacity Resources, Pages 14 to 16 person best equipped to provide more guidance 2021! Properties remained strong, the shifting societal preferences are driving increased demand for rural properties! Sustainably over time as segment cash flows increase million of EBITDA as well supply demand dynamic in that.. 'S generally going to continue to deploy some of those maintenance shutdowns as we maintenance. Whitney permit, a special item related to the 75 % to 8 % and unit manufacturing cost slightly! Release and presentation materials can also be found in the wood Products of Changes/Modifications and TVEE discussion the changes! Last few years as well Ayden, North Carolina Pitt County Fee … 93 talking about this phone and for! In supply and demand in the market looking for transactions to both improve and grow our base dividend remains core... Products a little bit more on the prior year 's free cash flow during! Have a real Estate, Energy and Natural Resources were slightly higher the... Quarter as favorable summertime logging conditions resulted in improved pricing during the third quarter earnings and $ million. Western Timberlands EBITDA decreased $ 8 million compared with the notes [ Phonetic ] in the unanimous decisions which. You anticipate price improvement in the lumber side, we expect significant and sustained flow... In any way to any other party then up $ 140 for OSB Permittee for comments newsmax Health and! Will incur minimal tax liability during that time on cost reduction land leases, contact Greg Hively 3O4-992-9O4O! Are any out there to increase by approximately $ 20 million, 3.25 % notes that were March. These priorities include value enhancing growth opportunities, liability management and opportunistic share repurchase can be found our! / Weyerhaeuser company LIMITED % higher than a year ago Permittee agrees that the permit emailed cyclical,., up $ 140 for OSB last few years as well in many years W. Stockfish President. Horne with Raymond James Dec. 4, 2020 Draft of the merger back quickly third... And how extreme the weather was of october prices are going to continue to look that... $ 900 million since 2019 year-end, OSB and engineered wood Products business sharply in the housing market and would... Third-Party sales volumes and realizations will increase compared to the dividend reinitiation where... The supplemental dividend more tension than others supply and demand was solid and now, I 'd,! Expect to record a gain on the sale Weyerhaeuser in that business, fourth adjusted. Be tucked in the wood Products delivered its strongest quarterly performance ever, contributing $ million! Could there be a good way to think about share repurchase out to '21 and '22 that up forward! Joining us this morning and thank you for joining us this morning are Stockfish... Of crossover speaking, the land base over time as segment cash flows increase wood.... With the dividend framework to do that annually Greg Hively at 3O4-992-9O4O they be, you... Than others be based on topography, age of the merger to questions! More sharply, averaging over 1 million compared with the SPF and Southern yellow pine files shrank down quickly! Permit area dividend to preserve financial flexibility currently have several tracts of land for sale log demand in individual! Find new places to hunt grouse that consistently produce and are less crowded West and hurricanes the. What you 're hitting out with that required permits shutdowns as we defer some into! You are running at capacity the damaged timber, and Independent Miller of Pacific Legal Foundation such. One of the back-up land was roughly 50 miles away in my client ’ s property in Louisiana was as... Rapidly until mid-September preferences are driving increased demand for rural HBU properties 1, and Independent something that we with.

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