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 (PCH) has launched its Impacts podcast series, focusing on wildfire management in Idaho. The first episode features retired District Forester Rich McMillan discussing the company's approach to wildfire risk management. Key points include:
- Unique firefighting coordination due to checkerboard ownership patterns
- Increased measures for fire prevention and damage minimization
- Improved federal wildfire suppression through enhanced coordination
- The podcast series aligns with PotlatchDeltic's four Corporate Responsibility pillars: Forest, Planet, People, and Performance
This initiative demonstrates PotlatchDeltic's commitment to responsible forest management and environmental stewardship in the face of wildfire challenges.
PotlatchDeltic (PCH) is implementing forestry best management practices to protect water quality in Georgia and Alabama. The company is establishing hardwood streamside management zones (SMZs) in areas previously converted to pine plantations, which risked increased erosion. This process involves:
1. Creating a buffer zone around ephemeral channels
2. Removing existing pine trees from the buffer area
3. Protecting and promoting hardwood growth within the buffer
4. Recording and protecting these areas as young hardwood stands in their GIS mapping system
These efforts aim to enhance water quality, wildlife habitat, and biodiversity. The company believes this approach will better protect the litter layer on ephemeral channels during tree harvesting, as required by local BMPs.
PotlatchDeltic (Nasdaq: PCH) has completed construction of its modernization and expansion project at the Waldo, Arkansas sawmill. The $131 million strategic investment is expected to increase annual capacity by 85 million board feet, reaching a total of 275 million board feet per year. The project aims to improve recovery by 6% and reduce cash processing costs by approximately 30%.
The mill is now entering a 6 to 12-month ramp-up phase. Once fully operational, it is projected to generate an additional $25 million in Adjusted EBITDDA annually under mid-cycle conditions, with an expected internal rate of return of 22%. The modernization includes a new saw line, planer upgrade, continuous kiln, and a Fulghum Industries 170' 45-ton log crane.
PotlatchDeltic (Nasdaq: PCH) has announced a quarterly distribution on its common stock. The company's board of directors has declared a distribution of $0.45 per share, which will be payable on September 30, 2024. Stockholders of record as of September 13, 2024 will be eligible to receive this distribution.
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.
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