PotlatchDeltic reports positive Q2, 2024 results

By PotlatchDeltic Corportation
Businesswire
July 29, 2024
Category: Finance & Economics
Region: United States, US West

SPOKANE, Washington — PotlatchDeltic reported net income of $13.7 million on revenues of $320.7 million for the quarter ended June 30, 2024. Net income was $22.3 million, or $0.28 per diluted share, on revenues of $246.1 million for the quarter ended June 30, 2023. Excluding after-tax special items consisting of gain on insurance recoveries and CatchMark merger-related expenses, adjusted net income was $5.2 million for the second quarter of 2023. Other highlights include: Generated Total Adjusted EBITDDA of $103.2 million and Total Adjusted EBITDDA margin of 32%; Completed the sale of 34,100 acres of four-year average age Southern timberlands for $57 million; and Finalizing construction of the $131 million Waldo, Arkansas sawmill expansion and modernization project. …“All of our business segments delivered solid operational execution in the second quarter in spite of languishing lumber markets and the current economic backdrop,” said Eric Cremers, President and CEO.

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