PotlatchDeltic Corporation Reports Third Quarter 2024 Results

Rhea-AI Summary

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.

Positive

• Completed Waldo sawmill expansion project with potential for $25M additional annual EBITDDA
• Maintained strong liquidity position of $460 million
• Stable Southern sawlog and pulpwood prices
• Increased Northern harvest volumes due to seasonality

Negative

• Net income decreased 86% YoY from $23.7M to $3.3M
• Revenue declined 4% YoY from $265.5M to $255.1M
• Lumber prices decreased 5% to $402 per MBF in Q3
• Higher per-unit manufacturing costs due to planned downtime
• Wood Products segment reported negative EBITDDA of $9.6M

Insights

Financial Analyst

PotlatchDeltic's Q3 2024 results show significant headwinds, with net income dropping to $3.3 million ($0.04 per share) from $23.7 million in Q3 2023. Total Adjusted EBITDDA declined to $45.9 million, with margins compressing to 18% from 21.2% year-over-year.

Key operational challenges include:

• Wood Products segment posted negative EBITDDA of $9.6 million, impacted by lower lumber prices and higher manufacturing costs
• Average lumber prices fell 5% to $402 per MBF
• Cash position decreased to $161.1 million from $302.8 million year-over-year

The completed Waldo sawmill expansion could generate an additional $25 million in annual EBITDDA under mid-cycle conditions, though current market conditions remain challenging. The maintained quarterly dividend of $0.45 per share indicates financial stability despite headwinds.

Market Research Analyst

The lumber market outlook presents mixed signals. While management suggests stabilization in supply-demand dynamics, current metrics indicate continued pressure. The repair and remodel market remains subdued, with potential improvement contingent on interest rate reductions. The company's strategic positioning across three segments provides some buffer:

• Timberlands showed resilience with increased EBITDDA of $1.6 million quarter-over-quarter
• Real Estate segment maintains strong margins despite lower volume compared to Q2
• Strong liquidity of $460 million provides operational flexibility

The share repurchase at $42 per share reflects management's confidence in long-term value, though the modest volume of 57,000 shares suggests a cautious approach to capital allocation in the current environment.

SPOKANE, Wash.--(BUSINESS WIRE)-- PotlatchDeltic Corporation (Nasdaq: PCH) today reported net income of $3.3 million, or $0.04 per diluted share, on revenues of $255.1 million for the quarter ended September 30, 2024. Net income was $23.7 million, or $0.29 per diluted share, on revenues of $265.5 million for the quarter ended September 30, 2023. Excluding an after-tax gain on insurance recoveries, adjusted net income was $11.4 million, or $0.14 per diluted share for the third quarter of 2023.

Third Quarter 2024 Highlights

• Generated Total Adjusted EBITDDA of $45.9 million and Total Adjusted EBITDDA margin of 18%
• Completed construction on the Waldo, Arkansas sawmill expansion and modernization project
• Repurchased 57,000 shares for $2.4 million, or $42 per share
• Maintained strong liquidity of $460 million as of September 30, 2024

“During the third quarter, our businesses delivered solid operational performance while navigating a challenging lumber market as well as the broader economic environment,” said Eric Cremers, President and Chief Executive Officer. “Additionally, our Wood Products division achieved a significant milestone with the successful completion of the construction phase of our Waldo, Arkansas sawmill expansion and modernization project. We believe this strategic investment positions the Waldo mill to be a top quartile sawmill, enabling it to generate an additional $25 million of Adjusted EBITDDA annually under a mid-cycle sales environment once the mill reaches its new capacity output. As for capital allocation, we will continue to be disciplined stewards of our shareholders’ capital and remain focused on returning capital to shareholders while prioritizing the long-term value for our shares. Looking forward, we believe that lumber markets are stabilizing as supply and demand in the industry continue to align. We are also optimistic that reductions in interest rates will serve as a catalyst, creating positive momentum in the housing and repair and remodel markets, thereby driving demand in our business,” stated Mr. Cremers.

Financial Highlights

($ in millions, except per share data)		Q3 2024				Q2 2024				Q3 2023
Revenues		$	255.1			$	320.7			$	265.5
Net income		$	3.3			$	13.7			$	23.7
Weighted-average shares outstanding, diluted (in thousands)			79,277				79,741				80,379
Net income per diluted share		$	0.04			$	0.17			$	0.29
Adjusted Net Income1		$	3.3			$	13.7			$	11.4
Adjusted Net Income Per Diluted Share1		$	0.04			$	0.17			$	0.14
Total Adjusted EBITDDA1		$	45.9			$	103.2			$	56.3
Total Adjusted EBITDDA Margin1			18.0	%			32.2	%			21.2	%
Dividends per share		$	0.45			$	0.45			$	0.45
Net cash from operations		$	26.5			$	100.6			$	41.0
Cash and cash equivalents		$	161.1			$	199.7			$	302.8

1 Adjusted Net Income, Adjusted Net Income Per Diluted Share, Total Adjusted EBITDDA and Total Adjusted EBITDDA Margin are non-GAAP measures. Refer to "Non-GAAP Measures" and Non-GAAP Reconciliations below for more information and reconciliations to GAAP, where applicable.

Business Performance: Q3 2024 vs. Q2 2024

Timberlands

Third Quarter 2024 Highlights

• Timberlands Adjusted EBITDDA increased $1.6 million from Q2 2024
• Northern harvest volumes increased due to normal seasonality
• Northern sawlog prices decreased primarily due to lower indexed sawlog prices
• Southern sawlog and pulpwood prices were relatively stable

($ in millions)		Q3 2024				Q2 2024				$ Change
Timberlands Revenues		$	105.1			$	98.8			$	6.3
Timberlands Adjusted EBITDDA1		$	35.8			$	34.2			$	1.6

1 Refer to Segment Information below for additional information.

Wood Products

Third Quarter 2024 Highlights

• Wood Products Adjusted EBITDDA decreased $2.8 million from Q2 2024
• Average lumber prices decreased 5% to $402 per thousand board feet (MBF) in Q3 2024
• Higher per-unit manufacturing costs primarily due to lower production from planned downtime and restart at the Waldo sawmill related to the expansion and modernization project

($ in millions)		Q3 2024				Q2 2024				$ Change
Wood Products Revenues		$	139.4			$	153.6			$	(14.2	)
Wood Products Adjusted EBITDDA1		$	(9.6	)		$	(6.8	)		$	(2.8	)

1 Refer to Segment Information below for additional information.

Real Estate

Third Quarter 2024 Highlights

• Real Estate Adjusted EBITDDA decreased $57.8 million from Q2 2024, which included a $57 million rural timberland sale in the South
• Sold 6,548 acres of rural land at an average price of $3,727 per acre
• Sold 53 residential lots at an average price of $204,851 per lot

($ in millions)		Q3 2024				Q2 2024				$ Change
Real Estate Revenues		$	38.7			$	95.7			$	(57.0	)
Real Estate Adjusted EBITDDA1		$	31.8			$	89.6			$	(57.8	)

1 Refer to Segment Information below for additional information.

Non-GAAP Measures

This press release includes certain financial measures that are not in accordance with accounting principles generally accepted in the United States (GAAP). Management believes that these non-GAAP measures, when read in conjunction with our GAAP financial statements, provide useful information to investors and other interested parties as described below. The presentation of these non-GAAP financial measures should be considered only as supplemental to, are not intended to be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may not be the same as or comparable to other similarly titled non-GAAP measures presented by other companies due to potential inconsistencies in methods of calculation.

Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Diluted Share are non-GAAP measures that represent GAAP net income (loss) and GAAP net income (loss) per diluted share before certain items, net of tax, that management believes impact the ability to compare the performance of our business, either period-over-period or with other businesses.

Total Adjusted EBITDDA and Total Adjusted EBITDDA Margin are non-GAAP measures that remove the impact of specific items that management believes do not directly reflect the core business operations on an ongoing basis and can be used to evaluate the operational performance of assets under management.

We define Total Adjusted EBITDDA Margin as Total Adjusted EBITDDA divided by Revenues.

Reconciliations of Total Adjusted EBITDDA, Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Diluted Share to their most comparable GAAP measures are set forth in the accompanying “Non-GAAP Reconciliations” at the end of this release.

Conference Call Information

A live conference call and webcast will be held Tuesday, October 29, 2024, at 9:00 a.m. Pacific Time (12:00 p.m. Eastern Time). Investors may access the webcast at www.potlatchdeltic.com by clicking on the Investors link or by conference call at 1-888-510-2008 for U.S./Canada and 1-646-960-0306 for international callers. Participants will be asked to provide conference I.D. number 7281983. Supplemental materials that will be discussed during the call are available on the above website.

A replay of the conference call will be available two hours following the call until November 5, 2024 by calling 1-800-770-2030 for U.S./Canada or 1-609-800-9909 for international callers. Callers must enter conference I.D. number 7281983 to access the replay.

About PotlatchDeltic

PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) that owns over 2.1 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program. PotlatchDeltic, a leader in sustainable forest management, is committed to environmental and social responsibility and to responsible governance. More information can be found at www.potlatchdeltic.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended, including without limitation, our expectations regarding the company’s revenues, costs, expenses and liquidity; disciplined and opportunistic capital allocation strategy; expected incremental EBITDDA generation as a result of the recently completed Waldo, Arkansas sawmill expansion and modernization project; long-term housing fundamentals, interest rates, and demand for lumber; and similar matters. Words such as “believe,” “will continue,” “looking forward,” and similar expressions are intended to identify such forward-looking statements. You should carefully read forward-looking statements, including statements that contain these words, because they discuss the future expectations or state other “forward-looking” information about PotlatchDeltic. A number of important factors could cause actual results or events to differ materially from those indicated by such forward-looking statements, many of which are beyond PotlatchDeltic’s control, such as changes in the U.S. housing market; changes in timberland values; changes in timber harvest levels on the company’s lands; changes in timber prices; changes in policy regarding governmental timber sales; availability of logging contractors and shipping capacity; changes in the United States and international economies and effects on our customers and suppliers; changes in interest rates; credit availability and homebuyers’ ability to qualify for mortgages; availability of labor and developable land; changes in the level of construction and remodeling activity; changes in foreign demand; changes in tariffs, quotas and trade agreements involving wood products; currency fluctuation; changes in demand for our products and real estate; changes in production and production capacity in the forest products industry; competitive pricing pressures for our products; unanticipated manufacturing disruptions; disruptions or inefficiencies in our supply chain and/or operations; changes in general and industry-specific environmental laws and regulations; unforeseen environmental liabilities or expenditures; weather conditions; fires at our facilities and on our timberland and other catastrophic events; restrictions on harvesting due to fire danger; changes in raw material, fuel and other costs; transportation disruptions; share price; our ability to achieve the expected increases in production capacity, reduction in cash processing costs, and recovery improvement following the ramp-up phase of our Waldo, Arkansas sawmill expansion and modernization project; our ability to participate in the natural climate solutions and forest carbon sequestration markets; the successful execution of the company’s strategic plans and the other factors described in PotlatchDeltic’s Annual Report on Form 10-K and in the company’s other filings with the SEC. PotlatchDeltic assumes no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, all of which speak only as of the date hereof.

PotlatchDeltic Corporation
Condensed Consolidated Statements of Operations
Unaudited
	Three Months Ended												Nine Months Ended
	September 30,				June 30,				September 30,				September 30,				September 30,
(in thousands, except per share amounts)	2024				2024				2023				2024				2023
Revenues	$	255,131			$	320,671			$	265,509			$	803,929			$	769,572
Costs and expenses:
Cost of goods sold		227,556				282,473				226,303				722,189				665,716
Selling, general and administrative expenses		20,403				20,752				19,303				61,882				55,118
CatchMark merger-related expenses		—				—				—				—				2,453
Gain on fire damage		—				—				(16,326	)			—				(39,436	)
		247,959				303,225				229,280				784,071				683,851
Operating income		7,172				17,446				36,229				19,858				85,721
Interest expense, net		(9,635	)			(8,696	)			(7,971	)			(18,049	)			(15,783	)
Non-operating pension and other postretirement employee benefits		200				201				(228	)			602				(685	)
Other		1,516				(23	)			370				1,348				638
Income (loss) before income taxes		(747	)			8,928				28,400				3,759				69,891
Income taxes		4,056				4,750				(4,725	)			12,923				(7,650	)
Net income	$	3,309			$	13,678			$	23,675			$	16,682			$	62,241
Net income per share:
Basic	$	0.04			$	0.17			$	0.30			$	0.21			$	0.78
Diluted	$	0.04			$	0.17			$	0.29			$	0.21			$	0.78
Dividends per share	$	0.45			$	0.45			$	0.45			$	1.35			$	1.35
Weighted-average shares outstanding:
Basic		79,173				79,627				80,132				79,494				80,102
Diluted		79,277				79,741				80,379				79,563				80,279

PotlatchDeltic Corporation
Condensed Consolidated Balance Sheets
Unaudited
(in thousands, except per share amounts)		September 30, 2024				December 31, 2023
ASSETS
Current assets:
Cash and cash equivalents		$	161,131			$	230,118
Customer receivables, net			29,550				21,892
Inventories, net			79,894				78,665
Other current assets			50,623				46,258
Total current assets			321,198				376,933
Property, plant and equipment, net			395,908				372,832
Investment in real estate held for development and sale			51,769				56,321
Timber and timberlands, net			2,375,157				2,440,398
Intangible assets, net			14,306				15,640
Other long-term assets			148,766				169,132
Total assets		$	3,307,104			$	3,431,256
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable and accrued liabilities		$	90,290			$	82,383
Current portion of long-term debt			165,113				175,615
Current portion of pension and other postretirement employee benefits			4,535				4,535
Total current liabilities			259,938				262,533
Long-term debt			869,486				858,113
Pension and other postretirement employee benefits			64,902				67,856
Deferred tax liabilities, net			23,936				36,641
Other long-term obligations			36,817				35,015
Total liabilities			1,255,079				1,260,158
Commitments and contingencies
Stockholders' equity:
Common stock, $1 par value, 200,000 shares authorized, 78,862 and 79,365 shares issued and outstanding			78,862				79,365
Additional paid-in capital			2,312,586				2,303,992
Accumulated deficit			(432,589	)			(315,291	)
Accumulated other comprehensive income			93,166				103,032
Total stockholders’ equity			2,052,025				2,171,098
Total liabilities and stockholders' equity		$	3,307,104			$	3,431,256

PotlatchDeltic Corporation
Condensed Consolidated Statements of Cash Flows
Unaudited
	Three Months Ended												Nine Months Ended
	September 30,				June 30,				September 30,				September 30,				September 30,
(in thousands)		2024				2024				2023				2024				2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	3,309			$	13,678			$	23,675			$	16,682			$	62,241
Adjustments to reconcile net income to net cash from operating activities:
Depreciation, depletion and amortization		25,893				29,674				30,658				86,369				90,327
Basis of real estate sold		12,905				56,525				6,109				73,522				21,624
Change in deferred taxes		(3,057	)			(4,694	)			(1,764	)			(11,896	)			(3,979	)
Pension and other postretirement employee benefits		1,143				1,145				1,610				3,431				4,833
Equity-based compensation expense		2,946				2,962				2,616				8,468				6,472
Gain on fire damage		—				—				(16,326	)			—				(39,436	)
Interest received under swaps with other-than-insignificant financing element		(7,536	)			(7,509	)			(6,884	)			(22,503	)			(18,651	)
Other, net		1,641				2,351				1,792				6,953				5,648
Change in working capital and operating-related activities, net		(3,040	)			9,256				(9,773	)			(7,036	)			(24,107	)
Real estate development expenditures		(2,583	)			(1,587	)			(2,939	)			(5,305	)			(7,243	)
Funding of pension and other postretirement employee benefits		(5,168	)			(1,221	)			128				(7,303	)			(2,176	)
Proceeds from insurance recoveries		—				—				12,049				1,680				21,755
Net cash from operating activities		26,453				100,580				40,951				143,062				117,308
CASH FLOWS FROM INVESTING ACTIVITIES
Property, plant and equipment additions		(25,575	)			(21,608	)			(17,933	)			(52,178	)			(28,068	)
Timberlands reforestation and roads		(6,476	)			(4,940	)			(6,299	)			(19,290	)			(17,013	)
Acquisition of timber and timberlands		(822	)			(43	)			(55	)			(32,303	)			(1,676	)
Proceeds from property insurance		—				—				1,356				—				1,356
Interest received under swaps with other-than-insignificant financing element		7,010				6,986				6,375				20,934				17,279
Other, net		134				245				36				752				700
Net cash from investing activities		(25,729	)			(19,360	)			(16,520	)			(82,085	)			(27,422	)
CASH FLOWS FROM FINANCING ACTIVITIES
Distributions to common stockholders		(35,486	)			(35,677	)			(35,960	)			(106,942	)			(107,880	)
Repurchase of common stock		(3,508	)			(23,905	)			(11,012	)			(27,413	)			(11,406	)
Other, net		(943	)			(1,444	)			(360	)			(3,179	)			(2,315	)
Net cash from financing activities		(39,937	)			(61,026	)			(47,332	)			(137,534	)			(121,601	)
Change in cash, cash equivalents and restricted cash		(39,213	)			20,194				(22,901	)			(76,557	)			(31,715	)
Cash, cash equivalents and restricted cash, beginning		200,344				180,150				336,777				237,688				345,591
Cash, cash equivalents and restricted cash, ending1	$	161,131			$	200,344			$	313,876			$	161,131			$	313,876

1

Includes $0, $0.7 million, and $11.1 million at September 30, 2024, June 30, 2024, and September 30, 2023, respectively, that were or are intended to be reinvested in timber and timberlands and classified as restricted cash in Other current and long-term assets in the Condensed Consolidated Balance Sheets.

PotlatchDeltic Corporation
Segment Information
Unaudited
	Three Months Ended												Nine Months Ended
	September 30,				June 30,				September 30,				September 30,				September 30,
(in thousands)	2024				2024				2023				2024				2023
Revenues
Timberlands	$	105,132			$	98,802			$	109,808			$	296,884			$	313,663
Wood Products		139,412				153,579				165,108				441,589				485,572
Real Estate		38,701				95,732				19,152				145,540				60,079
		283,245				348,113				294,068				884,013				859,314
Intersegment Timberlands revenues		(28,114	)			(27,442	)			(28,559	)			(80,084	)			(89,736	)
Other intersegment revenues		—				—				—				—				(6	)
Consolidated revenues	$	255,131			$	320,671			$	265,509			$	803,929			$	769,572
Adjusted EBITDDA1
Timberlands	$	35,824			$	34,124			$	42,062			$	104,696			$	118,017
Wood Products		(9,581	)			(6,805	)			15,039				(16,525	)			26,975
Real Estate		31,861				89,568				14,165				127,657				45,867
Corporate		(12,203	)			(11,756	)			(11,696	)			(36,624	)			(32,958	)
Eliminations and adjustments		1				(1,958	)			(3,292	)			(407	)			1,599
Total Adjusted EBITDDA		45,902				103,173				56,278				178,797				159,500
Interest expense, net2		(9,635	)			(8,696	)			(7,971	)			(18,049	)			(15,783	)
Depreciation, depletion and amortization		(25,487	)			(29,268	)			(30,248	)			(85,150	)			(89,099	)
Basis of real estate sold		(12,905	)			(56,525	)			(6,109	)			(73,522	)			(21,624	)
CatchMark merger-related expenses		—				—				—				—				(2,453	)
Gain on fire damage		—				—				16,326				—				39,436
Non-operating pension and other postretirement employee benefits		200				201				(228	)			602				(685	)
Gain (loss) on disposal of assets		(338	)			66				(18	)			(267	)			(39	)
Other		1,516				(23	)			370				1,348				638
Income (loss) before income taxes	$	(747	)		$	8,928			$	28,400			$	3,759			$	69,891
Depreciation, depletion and amortization
Timberlands	$	16,778			$	16,790			$	19,267			$	51,193			$	55,623
Wood Products		8,395				12,227				10,740				33,138				32,723
Real Estate		138				136				120				412				397
Corporate		176				115				121				407				356
		25,487				29,268				30,248				85,150				89,099
Bond discounts and deferred loan fees2		406				406				410				1,219				1,228
Total depreciation, depletion and amortization	$	25,893			$	29,674			$	30,658			$	86,369			$	90,327
Basis of real estate sold
Real Estate	$	12,908			$	56,528			$	6,111			$	73,530			$	21,629
Eliminations and adjustments		(3	)			(3	)			(2	)			(8	)			(5	)
Total basis of real estate sold	$	12,905			$	56,525			$	6,109			$	73,522			$	21,624

1	Management uses Adjusted EBITDDA to evaluate company and segment performance. See the reconciliation of Total Adjusted EBITDDA in Non-GAAP Reconciliations.
2	Bond discounts, deferred loan fees, non-cash amortization related to redesignated forward swaps, and interest income are included in interest expense, net in the Condensed Consolidated Statements of Operations.

PotlatchDeltic Corporation
Non-GAAP Reconciliations
Unaudited
		Three Months Ended												Nine Months Ended
		September 30,				June 30,				September 30,				September 30,				September 30,
(in thousands, except per share amounts)		2024				2024				2023				2024				2023
Total Adjusted EBITDDA1
Net income (GAAP)		$	3,309			$	13,678			$	23,675			$	16,682			$	62,241
Interest expense, net			9,635				8,696				7,971				18,049				15,783
Income taxes			(4,056	)			(4,750	)			4,725				(12,923	)			7,650
Depreciation, depletion and amortization			25,487				29,268				30,248				85,150				89,099
Basis of real estate sold			12,905				56,525				6,109				73,522				21,624
CatchMark merger-related expenses			—				—				—				—				2,453
Gain on fire damage			—				—				(16,326	)			—				(39,436	)
Non-operating pension and other postretirement employee benefits			(200	)			(201	)			228				(602	)			685
(Gain) loss on disposal of assets			338				(66	)			18				267				39
Other			(1,516	)			23				(370	)			(1,348	)			(638	)
Total Adjusted EBITDDA		$	45,902			$	103,173			$	56,278			$	178,797			$	159,500
Adjusted Net Income1
Net income (GAAP)		$	3,309			$	13,678			$	23,675			$	16,682			$	62,241
Special items after tax:
CatchMark merger-related expenses			—				—				—				—				2,453
Gain on fire damage			—				—				(12,244	)			—				(29,577	)
Adjusted Net Income		$	3,309			$	13,678			$	11,431			$	16,682			$	35,117
Adjusted Net Income Per Diluted Share1
Net income per diluted share (GAAP)		$	0.04			$	0.17			$	0.29			$	0.21			$	0.78
Special items after tax:
CatchMark merger-related expenses			—				—				—				—				0.03
Gain on fire damage			—				—				(0.15	)			—				(0.37	)
Adjusted Net Income Per Diluted Share		$	0.04			$	0.17			$	0.14			$	0.21			$	0.44

1	See "Non-GAAP Measures" for further details on management's use of these measures.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20241028179763/en/

Investors

Wayne Wasechek

509.835.1521

Media

Anna Torma

509.835.1558

Source: PotlatchDeltic Corporation

FAQ

What was PotlatchDeltic's (PCH) earnings per share in Q3 2024?

PotlatchDeltic reported earnings of $0.04 per diluted share in Q3 2024.

How much revenue did PCH generate in Q3 2024?

PCH generated revenue of $255.1 million in Q3 2024.

What was the average lumber price for PCH in Q3 2024?

The average lumber price was $402 per thousand board feet (MBF) in Q3 2024, a 5% decrease from the previous quarter.

How many shares did PCH repurchase in Q3 2024?

PCH repurchased 57,000 shares for $2.4 million, at an average price of $42 per share.