Weyerhaeuser Company (WY) has reported 687.14 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $551 million, or $0.73 a share in the quarter, compared with $70 million, or $0.11 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $106 million, or $0.14 a share compared with $81 million or $0.16 a share, a year ago.

Revenue during the quarter grew 26.07 percent to $1,596 million from $1,266 million in the previous year period.

Cost of revenue rose 26.75 percent or $267 million during the quarter to $1,265 million. Gross margin for the quarter contracted 43 basis points over the previous year period to 20.74 percent.

Total expenses were $1,411 million for the quarter, up 25.53 percent or $287 million from year-ago period. Operating margin for the quarter expanded 38 basis points over the previous year period to 11.59 percent.

Operating income for the quarter was $185 million, compared with $142 million in the previous year period. However, the adjusted EBITDA for the quarter stood at $400 million compared with $248 million in the prior year period. At the same time, adjusted EBITDA margin improved 547 basis points in the quarter to 25.06 percent from 19.59 percent in the last year period.  

"2016 was a transformational year for Weyerhaeuser. Through our merger with Plum Creek and the $2.5 billion divestiture of our Cellulose Fibers business, we became a focused timber, land and forest products company and nearly doubled the size of our timberland holdings," said Doyle R. Simons, president and chief executive officer. "In addition to completing these significant portfolio changes, we increased Adjusted EBITDA by nearly 55 percent, delivered more than $100 million of operational excellence improvements, captured significant merger synergies, and achieved the highest annual Wood Products earnings in over a decade. Finally, we returned cash to shareholders through a $2 billion share repurchase. Entering 2017, we remain strongly committed to driving industry-leading performance, continuing to capture benefits of the merger, and demonstrating disciplined capital allocation to drive superior value for shareholders."

Cash flow from investing activities was $2,559 million from investing activities during the year as against cash outgo of $487 million in the last year.

The company has spent $3,630 million cash to carry out financing activities during the year as against cash outgo of $1,156 million in the last year period.

Cash and cash equivalents stood at $676 million as on Dec. 31, 2016, down 33.14 percent or $335 million from $1,011 million on Dec. 31, 2015.

Real estate inventory rose 10.15 percent or $33 million to $358 million on Dec. 31, 2016. Net receivables were at $474 million as on Dec. 31, 2016, up 54.90 percent or $168 million from year-ago. Accounts payable declined 28.53 percent or $93 million to $233 million on Dec. 31, 2016.

Investments stood at $56 million as on Dec. 31, 2016.

Total assets jumped 54.12 percent or $6,757 million to $19,243 million on Dec. 31, 2016. On the other hand, total liabilities were at $10,063 million as on Dec. 31, 2016, up 32.11 percent or $2,446 million from year-ago.

Return on assets moved down 50 basis points to 0.88 percent in the quarter. At the same time, return on equity moved up 479 basis points to 6 percent in the quarter.