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 Corporation (Nasdaq: PCH) reported a net income of $16.3 million, or $0.20 per diluted share, on revenues of $258.0 million for Q1 2023. In comparison, Q1 2022 saw a net income of $163.9 million, or $2.35 per diluted share. Adjusted net income for Q1 2023, excluding merger-related expenses, was $18.5 million, or $0.23 per diluted share. The company generated a total adjusted EBITDDA of $57.7 million with a margin of 22%. Timberlands harvested a record of 2.1 million tons despite lower sawlog prices. Real Estate operations performed well, with 6,939 acres sold. The liquidity position remains strong at $625 million.
PotlatchDeltic Corporation (Nasdaq: PCH) announced the resignation of Jerry Richards, Vice President and Chief Financial Officer, effective April 19, 2023. Richards will assist in the transition until May 12, 2023. He has been with the company since 2013 and played a crucial role in its growth, including integrating Deltic Timber Corporation and CatchMark Timber Trust, Inc. The company will initiate a search for a new CFO, with Wayne Wasechek serving as Interim CFO and Chief Accounting Officer. Importantly, Richards' departure is not linked to any disputes over corporate strategy or financial disclosures. PotlatchDeltic is a leading REIT with nearly 2.2 million acres of timberland across several states and engages in sustainable forest management.
PotlatchDeltic Corporation (NASDAQ: PCH) will release its first quarter earnings on April 24, after market close. A live conference call and webcast to discuss these results is scheduled for April 25 at 9:00 a.m. PT (12:00 p.m. ET). Investors can access the webcast via the company’s website by navigating to the Investors section or by calling designated numbers for participation.
PotlatchDeltic, a leading Real Estate Investment Trust, manages nearly 2.2 million acres of timberlands across several states, alongside operating sawmills and a real estate development business.
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