PotlatchDeltic Corporation - PCH STOCK NEWS

PotlatchDeltic, a leading forestry company, is championing sustainable forest management practices in the United States. The company emphasizes its commitment to carefully managing working forests to ensure a reliable and renewable supply of wood for various purposes, including lumber, energy, paper, and everyday products. PotlatchDeltic's approach not only meets product demands but also supports wildlife habitat, clean air, clean water, and job creation.

The company highlights that the U.S. is a global leader in modern forestry, implementing some of the highest standards for sustainable forest management worldwide. As a result of these high standards, the U.S. now boasts some of the most abundant and productive forest resources globally. This press release underscores PotlatchDeltic's role in contributing to this success and its ongoing commitment to sustainable practices in the forestry industry.

PotlatchDeltic (PCH) faced challenges in recruiting qualified talent in 2023, particularly for skilled labor positions in wood products facilities. The company hired 224 new team members, with a nearly equal split between northern and southern operations. 22% of new hires were female and 27% were underrepresented minorities. Wood products facilities accounted for 89% of new hires, with skilled maintenance positions being the most difficult to fill.

The overall employee turnover rate was 16%, with 72% leaving voluntarily. PotlatchDeltic employs various recruitment strategies, including job fairs, college career days, and social media. The company also offers paid internships to build awareness and skills in potential future employees, providing meaningful projects that aid in students' academic development and job readiness.

PotlatchDeltic (Nasdaq: PCH) reported Q2 2024 results with net income of $13.7 million, or $0.17 per diluted share, on revenues of $320.7 million. Key highlights include:

- Total Adjusted EBITDDA of $103.2 million with a 32% margin
- Sale of 34,100 acres of Southern timberlands for $57 million
- Repurchase of 610,000 shares for $25 million
- Nearing completion of $131 million Waldo, Arkansas sawmill expansion
- Strong liquidity of nearly $500 million

The company saw solid operational execution across all business segments despite challenging lumber markets. Real Estate business performed well with strong rural sales activity.

PotlatchDeltic, a major timberland owner, emphasizes its commitment to water quality protection through Best Management Practices (BMPs). These include:

1. Streamside Management Zones (SMZs): Unharvested or lightly harvested buffers along streams to capture runoff and sediment, stabilize banks, and provide wildlife habitat.

2. Proper logging road design and construction to minimize sediment and protect water quality.

3. Logging methods that disconnect surface water flow from exposed soil.

The company highlights its Mica Creek Experimental Watershed, a 6,672-acre 'living laboratory' in Idaho, where a multi-decade study shows that forest management adhering to Idaho Forest Practices Act BMPs has minimal adverse effects on streams or aquatic life.

PotlatchDeltic highlights its commitment to protecting water quality through its Mica Creek Experimental Watershed study, initiated in 1990. Collaborating with the U.S. Forest Service and the Idaho Department of Lands, the study spans 6,672 acres southeast of Coeur d'Alene, Idaho. The research focuses on the impact of modern forestry best management practices on stream water quality and aquatic ecosystems. Findings indicate slight increases in stream flows and temperatures post-harvest, with no lasting adverse effects on fish, amphibians, or aquatic insects. The company incorporates these results into effective forestry practices, ensuring sustainable forest management.

PotlatchDeltic (Nasdaq: PCH) will release its second-quarter 2024 earnings on Monday, July 29, after the market closes. A live conference call and webcast will follow on Tuesday, July 30, at 9:00 a.m. Pacific Time (12:00 p.m. Eastern Time) to discuss the results. Investors can access the webcast through the company's website or join via conference call. The call will be accessible to U.S./Canada participants at 1-888-510-2008 and international participants at 1-646-960-0306 using conference ID 7281983. A replay of the conference call will be available until August 6, 2024, using the same conference ID.

PotlatchDeltic has been named the 2024 Business of the Year by the St. Maries Chamber of Commerce. The honor recognizes the company's significant contributions to the local community in St. Maries, Idaho, where it is the largest employer. Key initiatives include a 'free swim summer' program, which doubled attendance at the city pool, and a $150,000 contribution to the construction of PotlatchDeltic Field at the Lumberjack Sports Complex. The company also supported the local Junior Livestock Show & Sale, purchasing animals from 4-H youth participants. PotlatchDeltic emphasizes the importance of community well-being, volunteering, and charitable giving.

On June 21, 2024, PotlatchDeltic outlined its comprehensive corporate responsibility governance framework. The Vice President of Public Affairs and Chief Sustainability Officer spearheads the corporate responsibility strategies, reporting updates to the Board of Directors biannually. A Corporate Responsibility Management Committee and a Working Group meet regularly to devise and implement medium to long-term strategies, focusing on climate risks, greenhouse gas reduction, and sustainable practices. These strategies integrate across business units, involving extensive stakeholder engagement, audit processes, and continuous improvement initiatives. Environmental management practices, safety systems, and risk management are key components, supporting the company's commitment to corporate responsibility and aligning with its financial incentives for employees. External organizations like NCASI provide further support in advancing these initiatives.

PotlatchDeltic released its 2023 Corporate Responsibility Report, highlighting achievements across four key pillars: Forests, Planet, People, and Performance. The report is aligned with the United Nations Sustainable Development Goals. Key accomplishments include planting nearly 30 million seedlings, protecting 8,311 miles of rivers and streams, and achieving net carbon removals of 6.4 million metric tons of CO2e. The company reduced energy usage in wood product facilities by 2.5% and maintained outstanding safety performance. Additionally, PotlatchDeltic linked short-term incentive compensation to corporate responsibility objectives and continued to explore climate-related policies, solar projects, and carbon offset initiatives. The full report is available on their website.