Weyerhaeuser’s profit hit $1 billion in the March-to-June quarter as lumber prices soared and sales nearly doubled from the comparable quarter during 2020’s pandemic lockdowns. The Seattle-based timber products company said sales were $3.1 billion, compared with $1.6 billion a year earlier.

The record quarterly profit was 14 times the narrow profit Weyerhaeuser eked out in the same period last year.

Shares fell 3% following the report, however, as the company cautioned that next quarter’s profit “will be significantly lower than the second quarter” because prices for lumber and the oriented strand board used for construction have dropped from recent heights.