Welcome to our dedicated page for PotlatchDeltic Corporation news (Ticker: PCH), a resource for investors and traders seeking the latest updates and insights on PotlatchDeltic Corporation stock.
PotlatchDeltic Corporation (NASDAQ: PCH) is a leading Real Estate Investment Trust (REIT) in the United States, specializing in the ownership and management of timberlands. With 1.8 million acres spread across Alabama, Arkansas, Idaho, Louisiana, Minnesota, and Mississippi, the company plays a critical role in sustainable forest management. PotlatchDeltic's operations are divided into three main segments: timberlands, wood products, and real estate.
The timberlands segment is involved in planting and harvesting trees, as well as constructing and maintaining access roads. PotlatchDeltic has been a pioneer in sustainable forestry and was the first publicly traded company in the U.S. to become FSC certified. Their commitment to environmental and social responsibility is evident through third-party certifications by the Sustainable Forestry Initiative® (SFI®) and the Forest Stewardship Council® (FSC®).
The wood products segment focuses on manufacturing and distributing lumber, plywood, and other wood products. The company operates six sawmills and an industrial-grade plywood mill, ensuring a steady supply chain for their diverse customer base.
In the real estate segment, PotlatchDeltic engages in residential and commercial real estate development, as well as a rural timberland sales program. This segment also covers sales generated from company-owned timberlands.
PotlatchDeltic’s recent achievements include successful third-party re-certifications for sustainable forestry and the introduction of innovative practices like using drones for herbicide application. Their continuous performance improvement strategy and employee development programs ensure a skilled and motivated workforce.
The company also actively engages with local communities by allowing public recreational access to their timberlands, promoting outdoor activities like hunting, fishing, and camping. This not only underscores their commitment to social responsibility but also strengthens community ties.
Financially, PotlatchDeltic remains robust, with the timberlands and wood products segments driving the majority of the revenue. Their focus on sustainable practices and strategic investments positions them well for future growth and stability.
PotlatchDeltic highlights its participation in Voluntary Protection Programs (VPP), demonstrating excellence in workplace safety across multiple facilities. The company's Gwinn, Michigan facility maintains Star Worksite status in MVPP since 2013, recognized for its safety vision and 90-day Safety Passport onboarding process. The Bemidji, Minnesota facility has held MNSTAR status since 2001, earning the Minnesota Safety Council's Governor's Safety Award in 2022. The St. Maries, Idaho lumber and plywood facilities have been VPP Star sites since 2000, featuring exemplary lockout/tagout procedures and employee-engaged safety processes.
PotlatchDeltic (Nasdaq: PCH) announced that its board of directors has declared a quarterly distribution of $0.45 per share on the company's common stock. The distribution will be paid on December 31, 2024, to stockholders of record as of December 16, 2024.
PotlatchDeltic is undertaking a significant tree planting initiative in Idaho, aiming to plant 6 million seedlings over 15,000 acres in six to eight weeks. This process involves an 18-month preparation period, including seedling growth in nurseries across the Pacific Northwest and southern British Columbia. Over 90% of the seedlings come from first-generation tree improvement programs, with more than 70% sourced from PotlatchDeltic's Cherrylane Seed Orchard. The planting season is compressed due to Idaho's climate and terrain, requiring precise timing to ensure seedling survival. Over 200 people are involved in the peak planting season, planting more than 280,000 seedlings daily. The initiative also aims to reduce costs and resource inputs by decreasing seedling stock size. Manual hand planting is necessary due to the terrain, with planters carrying up to 300 seedlings at a time. The effort relies on H-2B temporary labor visas, and the process is heavily regulated to ensure job availability for American citizens. This reforestation effort is critical for regulatory, environmental management, and wildlife benefits.
PotlatchDeltic has launched 'Salute', a Veterans Employee Resource Group in 2023, aimed at supporting veterans and military families within the company. The initiative, led by Executive Sponsor Robert Schwartz and Chair Daniel Cortes, serves 88 veteran team members who contribute valuable skills including teamwork, discipline, leadership, and adaptability. The PR also highlights the company's Gwinn sawmill facility, which operates on a former Strategic Air Command base (K.I. Sawyer Air Force Base) in Michigan's Upper Peninsula, representing a successful transition from military to industrial use after the base's closure in 1995.
PotlatchDeltic explains how sustainably managed forests help combat climate change through carbon management. Trees absorb CO2 and store carbon in their structure, while wood products act as 'carbon vaults'. Active forest management enhances carbon removal compared to unmanaged forests, with 68% of carbon in sawtimber transported to mills and 32% remaining on site. Wood products manufacturing stores about 55% of wood carbon, while residuals are used for additional products or biogenic energy. The cycle of planting, growth, and harvest creates cumulative carbon storage over time. U.S. forests, harvested wood products, and urban trees offset more than 11% of total GHG emissions annually.
PotlatchDeltic (PCH) reported Q3 2024 net income of $3.3 million, or $0.04 per diluted share, on revenues of $255.1 million, down from $23.7 million, or $0.29 per share, on revenues of $265.5 million in Q3 2023. The company generated Total Adjusted EBITDDA of $45.9 million with an 18% margin. Key highlights include completing the Waldo, Arkansas sawmill expansion project, expected to generate an additional $25 million in Adjusted EBITDDA annually under mid-cycle conditions. The company maintained strong liquidity of $460 million and repurchased 57,000 shares for $2.4 million.
PotlatchDeltic implemented the SLAM (Stop, Look, Assess, Manage) process across all wood products facilities in 2021 as a risk assessment program. SLAM reinforces individual accountability and hazard awareness before tasks. Safety Managers introduced SLAM, followed by online training for Team Members. The process involves completing SLAM cards for upset conditions, non-routine tasks, or tasks without a written job safety analysis.
In 2023, SLAM continued to enhance safety protocols. The program was further refined and integrated into daily operations for all Maintenance tasks at the Warren facility. SLAM Card usage across the division showed significant changes: 6,392 in 2021, 19,494 in 2022, and 12,306 in 2023. The decrease in 2023 reflects the integration of Job Hazard Analyses (JHA) and procedural enhancements, indicating a more systematic approach to risk assessment.
PotlatchDeltic (Nasdaq: PCH) has announced the release of its third quarter 2024 earnings on Monday, October 28, after market close. The company will host a live conference call and webcast on Tuesday, October 29 at 9:00 a.m. Pacific Time (12:00 p.m. Eastern Time) to discuss the results.
Investors can access the webcast at www.potlatchdeltic.com via the Investors link or join the conference call using the following numbers:
- U.S./Canada: 1-888-510-2008
- International: 1-646-960-0306
Participants will need to provide the conference I.D. number 7281983. A replay of the call will be available until November 5, 2024, by calling 1-800-770-2030 (U.S./Canada) or 1-609-800-9909 (international) using the same I.D. number.
PotlatchDeltic has implemented a comprehensive timberland environmental management system (EMS) to achieve sustainable forest management objectives. The EMS includes:
- Training foresters and contractors
- Prescribing, monitoring, and inspecting forest management practices
- Tracking stakeholder feedback
- Internal inspections with implementation rates averaging 95% or higher
- Monthly regional reporting and annual business unit reviews
The EMS ensures compliance with regulations for wildlife conservation, biodiversity, and protection of water, fish, and endangered species. It also maintains third-party certifications under FSC® or SFI® standards for all timberlands. The system covers log sourcing for wood products facilities under SFI Fiber Sourcing and FSC Chain of Custody standards where applicable.
PotlatchDeltic emphasizes the importance of strong relationships with suppliers and contractors across its value chain. The company's Supplier Code of Conduct and Human Rights Policy outline expectations for these partners. Key aspects include:
1. Environmental compliance: Adherence to forestry regulations and best practices in timberlands and wood products facilities.
2. Human rights: Ethical treatment of workers, prohibition of harassment, and compliance with labor laws.
3. Safety: Commitment to worker safety in all environments.
4. Governance: Ethical business practices, protection of company assets, and compliance with anti-corruption laws.
PotlatchDeltic works with specialized contractors in timberlands and wood products facilities, emphasizing their expertise and local economic impact. The company maintains strict approval processes and ongoing monitoring for contractors, including safety training and performance evaluations.
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