04:46 PM EDT, 07/25/2024 (MT Newswires) -- Weyerhaeuser (WY) reported Q2 adjusted diluted earnings Thursday of $0.21 per share, down from $0.32 a year earlier.

Analysts polled by Capital IQ expected $0.21.

Net sales for the quarter ended June 30 were $1.94 billion, down from $2.0 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.97 billion.

Separately, Weyerhaeuser said it was acquiring 84,300 acres of timberlands in Alabama for $244 million via multiple transactions. The acquisitions are expected to contribute to the company's Southern Timberlands business.

Weyerhaeuser said it closed one of the transactions totaling $48 million in Q2 and expects to conclude the rest by the end of the year.

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