Timberlands Division Performance
The Timberlands division generated adjusted EBITDDA of $36 million in the third quarter. Southern sawlog prices remained relatively stable despite challenges.
Waldo Sawmill Modernization Completion
Successfully completed construction of the Waldo, Arkansas sawmill modernization and expansion project within budget, increasing the mill's annual capacity by 85 million board feet.
Real Estate Segment Success
Generated $32 million in adjusted EBITDDA in the third quarter, with the sale of 6,548 acres at over $3,700 per acre and 53 residential lots at a record average price of $205,000 per lot.
Natural Climate Solutions Initiatives
Expanded solar option contracts to over 35,000 acres with an estimated net present value of about $400 million. Exploring lithium opportunities in Arkansas with potential subsurface rights leasing.
Share Repurchase Program
Repurchased $2 million worth of shares in the third quarter. Year-to-date share repurchases total $27 million, with $98 million remaining under the program.