(FEDERAL WAY, WA) – Lumber giant Weyerhaeuser (NYSE: WY) fourth quarter earnings rose 31% to $166 million on revenues of $1.8 billion.For the year, net income more than tripled to $1.8 billion, with gains driven by healthy construction and divestitures. This compares with net earnings of $540 million, for the same period last year.
Full year 2014 includes after-tax earnings of $998 million from discontinued operations related to the divestiture of Weyerhaeuser Real Estate Company and $84 million from special items. Excluding these items, the company reported net earnings of $700 million. This compares with net earnings from continuing operations before special items of $572 million in 2013.