Potlatchdeltic ( (PCH) ) has realeased its Q3 earnings. Here is a breakdown of the information Potlatchdeltic presented to its investors.
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PotlatchDeltic Corporation, a Real Estate Investment Trust (REIT), specializes in owning and managing timberlands in several U.S. states and operates sawmills, a plywood mill, and a real estate development business, with a focus on sustainable forest management.
PotlatchDeltic reported a net income of $3.3 million for the third quarter of 2024, a notable decline from the $23.7 million reported in the same quarter in 2023. The company completed the expansion and modernization of its Waldo, Arkansas sawmill, which is expected to enhance future earnings.
Key financial highlights for the quarter include total adjusted EBITDDA of $45.9 million, with a margin of 18%. The Timberlands segment saw an increase in adjusted EBITDDA due to seasonal harvest volumes, despite a challenging lumber market. In contrast, the Wood Products and Real Estate segments experienced declines in adjusted EBITDDA, with the latter dropping significantly due to the absence of large rural timberland sales seen in the previous quarter.
Looking ahead, PotlatchDeltic remains optimistic as lumber markets begin to stabilize and anticipates positive momentum in housing and remodeling markets driven by potential interest rate reductions. The company aims to continue disciplined capital allocation, focusing on returning capital to shareholders while enhancing long-term value.
