• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    PotlatchDeltic Corporation Reports Fourth Quarter and Full Year 2024 Results

    1/27/25 4:10:00 PM ET
    $PCH
    Real Estate Investment Trusts
    Real Estate
    Get the next $PCH alert in real time by email

    PotlatchDeltic Corporation (NASDAQ:PCH) today reported net income of $5.2 million, or $0.07 per diluted share, on revenues of $258.1 million for the quarter ended December 31, 2024. Net loss was $0.1 million, or $0.00 per diluted share, on revenues of $254.5 million for the quarter ended December 31, 2023.

    Net income for the full year 2024 was $21.9 million, or $0.28 per diluted share, on revenues of $1.1 billion. Net income for the full year 2023 was $62.1 million, or $0.77 per diluted share, on revenues of $1.0 billion. Excluding after tax special items consisting of gain on insurance recoveries and CatchMark merger-related expenses, adjusted net income was $35.0 million, or $0.43 per diluted share, for 2023.

    2024 Highlights

    • Generated Total Adjusted EBITDDA of $232.1 million and Total Adjusted EBITDDA margin of 22%
    • Completed the Waldo, Arkansas sawmill expansion and modernization project
    • Sold 34,100 acres of four-year average age Southern timberlands for $57 million or $1,700 per acre
    • Acquired 16,000 acres of high-quality mature Southern timberlands for $31 million or $1,900 per acre
    • Repurchased 847,000 shares for $35 million, or $41 per share
    • Refinanced $176 million in debt during 2024 at below market rates
    • Maintained strong liquidity of $451 million as of December 31, 2024

    "I am pleased with our performance across all our business segments in 2024, especially against challenging market conditions," said Eric Cremers, President and Chief Executive Officer. "Our results reflect the strong performance of our Real Estate business and the stability provided by our Timberland operations. Additionally, we successfully achieved several strategic initiatives for the year, highlighted by the completion of the expansion and modernization project at our Waldo, Arkansas sawmill. In 2024, our balanced and disciplined capital allocation strategy focused on returning $177 million in capital to our shareholders through our quarterly dividend and value-enhancing share repurchases, investing in high-return capital projects and making an accretive timberland acquisition. As we look ahead in 2025, while ongoing challenges to housing affordability continue to create headwinds, we are optimistic about the prospects of improving lumber markets and remain confident in the demand fundamentals that drive growth in our businesses. With a strong balance sheet and a continued focus on operational excellence, we believe we are well-positioned to drive sustainable, long-term value for our shareholders," stated Mr. Cremers.

    Financial Highlights

    (in millions, except per share data - unaudited)

     

    Q4 2024

     

     

    Q3 2024

     

     

    Q4 2023

     

    Revenues

     

    $

    258.1

     

     

    $

    255.1

     

     

    $

    254.5

     

    Net income (loss)

     

    $

    5.2

     

     

    $

    3.3

     

     

    $

    (0.1

    )

    Weighted average shares outstanding, diluted (in thousands)

     

     

    78,608

     

     

     

    79,277

     

     

     

    79,630

     

    Net income (loss) per diluted share

     

    $

    0.07

     

     

    $

    0.04

     

     

    $

    —

     

     

     

     

     

     

     

     

     

     

     

    Adjusted Net Income (Loss)1

     

    $

    5.2

     

     

    $

    3.3

     

     

    $

    (0.1

    )

    Adjusted Net Income (Loss) Per Diluted Share1

     

    $

    0.07

     

     

    $

    0.04

     

     

    $

    —

     

     

     

     

     

     

     

     

     

     

     

    Total Adjusted EBITDDA1

     

    $

    53.3

     

     

    $

    45.9

     

     

    $

    40.7

     

    Total Adjusted EBITDDA Margin1

     

     

    20.7

    %

     

     

    18.0

    %

     

     

    16.0

    %

    Dividends per share

     

    $

    0.45

     

     

    $

    0.45

     

     

    $

    0.45

     

    Net cash from operations

     

    $

    45.4

     

     

    $

    26.5

     

     

    $

    41.8

     

    Cash and cash equivalents

     

    $

    151.6

     

     

    $

    161.1

     

     

    $

    230.1

     

    1 Adjusted Net Income (Loss), Adjusted Net Income (Loss) 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: Q4 2024 vs. Q3 2024

    Timberlands

    Fourth Quarter 2024 Highlights

    • Timberlands Adjusted EBITDDA decreased $1.8 million from Q3 2024
    • Northern harvest volumes decreased due to normal seasonality
    • Northern sawlog prices increased primarily due to higher indexed sawlog prices
    • Southern sawlog and pulpwood prices were relatively stable

    (in millions - unaudited)

     

    Q4 2024

     

     

    Q3 2024

     

     

    $ Change

     

    Timberlands Revenues

     

    $

    95.3

     

     

    $

    105.1

     

     

    $

    (9.8

    )

     

     

     

     

     

     

     

     

     

     

    Timberlands Adjusted EBITDDA1

     

    $

    34.0

     

     

    $

    35.8

     

     

    $

    (1.8

    )

    1 Refer to Segment Information below for additional information.

    Wood Products

    Fourth Quarter 2024 Highlights

    • Wood Products Adjusted EBITDDA increased $18.4 million from Q3 2024
    • Average lumber prices increased 11% to $445 per thousand board feet (MBF) in Q4 2024
    • Lower per-unit manufacturing costs primarily due to increased production at the Waldo sawmill following the restart in Q3 2024 related to the expansion and modernization project
    • Log costs decreased primarily due to improved log recovery

    (in millions - unaudited)

     

    Q4 2024

     

     

    Q3 2024

     

     

    $ Change

     

    Wood Products Revenues

     

    $

    160.3

     

     

    $

    139.4

     

     

    $

    20.9

     

     

     

     

     

     

     

     

     

     

     

    Wood Products Adjusted EBITDDA1

     

    $

    8.8

     

     

    $

    (9.6

    )

     

    $

    18.4

     

    1 Refer to Segment Information below for additional information.

    Real Estate

    Fourth Quarter 2024 Highlights

    • Real Estate Adjusted EBITDDA decreased $12.4 million from Q3 2024
    • Sold 5,919 acres of rural land at an average price of $2,923 per acre
    • Sold 45 residential lots at an average price of $101,400 per lot

    (in millions - unaudited)

     

    Q4 2024

     

     

    Q3 2024

     

     

    $ Change

     

    Real Estate Revenues

     

    $

    25.1

     

     

    $

    38.7

     

     

    $

    (13.6

    )

     

     

     

     

     

     

     

     

     

     

    Real Estate Adjusted EBITDDA1

     

    $

    19.4

     

     

    $

    31.8

     

     

    $

    (12.4

    )

    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, January 28, 2025, 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 February 4, 2025 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) with ownership of 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 corporate responsibility. 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; long-term housing fundamentals; housing affordability; demand for lumber; and similar matters. Words such as "believe," "continue," "look ahead," "ongoing," "prospects," 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 returns on our capital investments in our facilities; 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

     

    Year Ended

     

     

    December 31,

     

    September 30,

     

    December 31,

     

    December 31,

    (in thousands, except per share amounts)

     

    2024

     

    2024

     

    2023

     

    2024

     

    2023

    Revenues

     

    $

    258,147

     

     

    $

    255,131

     

     

    $

    254,503

     

     

    $

    1,062,076

     

     

    $

    1,024,075

     

    Costs and expenses:

     

     

     

     

     

     

     

     

     

     

    Cost of goods sold

     

     

    223,483

     

     

     

    227,556

     

     

     

    233,862

     

     

     

    945,672

     

     

     

    899,578

     

    Selling, general and administrative expenses

     

     

    21,330

     

     

     

    20,403

     

     

     

    20,612

     

     

     

    83,212

     

     

     

    75,730

     

    CatchMark merger-related expenses

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    2,453

     

    Gain on fire damage

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (39,436

    )

     

     

     

    244,813

     

     

     

    247,959

     

     

     

    254,474

     

     

     

    1,028,884

     

     

     

    938,325

     

    Operating income

     

     

    13,334

     

     

     

    7,172

     

     

     

    29

     

     

     

    33,192

     

     

     

    85,750

     

    Interest expense, net

     

     

    (10,874

    )

     

     

    (9,635

    )

     

     

    (8,435

    )

     

     

    (28,923

    )

     

     

    (24,218

    )

    Non-operating pension and other postretirement employee benefits

     

     

    201

     

     

     

    200

     

     

     

    (229

    )

     

     

    803

     

     

     

    (914

    )

    Other

     

     

    1,767

     

     

     

    1,516

     

     

     

    629

     

     

     

    3,115

     

     

     

    1,267

     

    Income (loss) before income taxes

     

     

    4,428

     

     

     

    (747

    )

     

     

    (8,006

    )

     

     

    8,187

     

     

     

    61,885

     

    Income taxes

     

     

    766

     

     

     

    4,056

     

     

     

    7,866

     

     

     

    13,689

     

     

     

    216

     

    Net income (loss)

     

    $

    5,194

     

     

    $

    3,309

     

     

    $

    (140

    )

     

    $

    21,876

     

     

    $

    62,101

     

     

     

     

     

     

     

     

     

     

     

     

    Net income (loss) per share:

     

     

     

     

     

     

     

     

     

     

    Basic

     

    $

    0.07

     

     

    $

    0.04

     

     

    $

    —

     

     

    $

    0.28

     

     

    $

    0.78

     

    Diluted

     

    $

    0.07

     

     

    $

    0.04

     

     

    $

    —

     

     

    $

    0.28

     

     

    $

    0.77

     

    Dividends per share

     

    $

    0.45

     

     

    $

    0.45

     

     

    $

    0.45

     

     

    $

    1.80

     

     

    $

    1.80

     

    Weighted-average shares outstanding (in thousands):

     

     

     

     

     

     

     

     

    Basic

     

     

    78,458

     

     

     

    79,173

     

     

     

    79,630

     

     

     

    79,236

     

     

     

    79,985

     

    Diluted

     

     

    78,608

     

     

     

    79,277

     

     

     

    79,630

     

     

     

    79,339

     

     

     

    80,167

     

    PotlatchDeltic Corporation

    Condensed Consolidated Balance Sheets

    Unaudited

     

     

     

    At December 31,

    (in thousands, except per share amounts)

     

    2024

     

    2023

    ASSETS

     

     

     

     

     

     

    Current assets:

     

     

     

     

     

     

    Cash and cash equivalents

     

    $

    151,551

     

     

    $

    230,118

     

    Customer receivables, net

     

     

    23,358

     

     

     

    21,892

     

    Inventories, net

     

     

    82,926

     

     

     

    78,665

     

    Other current assets

     

     

    41,295

     

     

     

    46,258

     

    Total current assets

     

     

    299,130

     

     

     

    376,933

     

    Property, plant and equipment, net

     

     

    408,913

     

     

     

    372,832

     

    Investment in real estate held for development and sale

     

     

    50,809

     

     

     

    56,321

     

    Timber and timberlands, net

     

     

    2,357,151

     

     

     

    2,440,398

     

    Intangible assets, net

     

     

    13,861

     

     

     

    15,640

     

    Other long-term assets

     

     

    175,579

     

     

     

    169,132

     

    Total assets

     

    $

    3,305,443

     

     

    $

    3,431,256

     

     

     

     

     

     

     

     

    LIABILITIES AND STOCKHOLDERS' EQUITY

     

     

     

     

     

     

    Current liabilities:

     

     

     

     

     

     

    Accounts payable and accrued liabilities

     

    $

    95,628

     

     

    $

    82,383

     

    Current portion of long-term debt

     

     

    99,552

     

     

     

    175,615

     

    Current portion of pension and other postretirement employee benefits

     

     

    5,098

     

     

     

    4,535

     

    Total current liabilities

     

     

    200,278

     

     

     

    262,533

     

    Long-term debt

     

     

    935,100

     

     

     

    858,113

     

    Pension and other postretirement employee benefits

     

     

    76,272

     

     

     

    67,856

     

    Deferred tax liabilities, net

     

     

    21,123

     

     

     

    36,641

     

    Other long-term obligations

     

     

    35,000

     

     

     

    35,015

     

    Total liabilities

     

     

    1,267,773

     

     

     

    1,260,158

     

    Commitments and contingencies

     

     

     

     

     

     

    Stockholders' equity:

     

     

     

     

     

     

    Common stock, $1 par value, 200,000 shares authorized and 78,684 and 79,365 shares issued and outstanding

     

     

    78,684

     

     

     

    79,365

     

    Additional paid-in capital

     

     

    2,315,176

     

     

     

    2,303,992

     

    Accumulated deficit

     

     

    (470,331

    )

     

     

    (315,291

    )

    Accumulated other comprehensive income

     

     

    114,141

     

     

     

    103,032

     

    Total stockholders' equity

     

     

    2,037,670

     

     

     

    2,171,098

     

    Total liabilities and stockholders' equity

     

    $

    3,305,443

     

     

    $

    3,431,256

     

    PotlatchDeltic Corporation

    Condensed Consolidated Statements of Cash Flows

    Unaudited

     

     

     

    Three Months Ended

     

    Year Ended

     

     

    December 31,

     

    September 30,

     

    December 31,

     

    December 31,

    (in thousands)

     

     

    2024

     

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

    CASH FLOWS FROM OPERATING ACTIVITIES

     

     

     

     

     

     

     

     

     

     

    Net income (loss)

     

    $

    5,194

     

     

    $

    3,309

     

     

    $

    (140

    )

     

    $

    21,876

     

     

    $

    62,101

     

    Adjustments to reconcile net income (loss) to net cash from operating activities:

     

     

     

     

     

     

     

     

     

     

    Depreciation, depletion and amortization

     

     

    26,729

     

     

     

    25,893

     

     

     

    30,827

     

     

     

    113,098

     

     

     

    121,154

     

    Basis of real estate sold

     

     

    13,348

     

     

     

    12,905

     

     

     

    9,768

     

     

     

    86,870

     

     

     

    31,392

     

    Change in deferred taxes

     

     

    (880

    )

     

     

    (3,057

    )

     

     

    (3,702

    )

     

     

    (12,776

    )

     

     

    (9,269

    )

    Pension and other postretirement benefits

     

     

    1,144

     

     

     

    1,143

     

     

     

    1,613

     

     

     

    4,575

     

     

     

    6,446

     

    Equity-based compensation expense

     

     

    2,542

     

     

     

    2,946

     

     

     

    2,643

     

     

     

    11,010

     

     

     

    9,115

     

    Gain on fire damage

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (39,436

    )

    Amortization related to redesignated forward-starting interest rate swaps

     

     

    2,806

     

     

     

    2,674

     

     

     

    2,624

     

     

     

    10,766

     

     

     

    10,329

     

    Interest received under swaps with other-than-insignificant financing element

     

     

    (7,170

    )

     

     

    (7,536

    )

     

     

    (6,995

    )

     

     

    (29,673

    )

     

     

    (25,646

    )

    Other, net

     

     

    (271

    )

     

     

    (1,033

    )

     

     

    (1,978

    )

     

     

    (1,278

    )

     

     

    (2,447

    )

    Change in working capital and operating-related activities, net

     

     

    6,011

     

     

     

    (3,040

    )

     

     

    (2,081

    )

     

     

    (1,025

    )

     

     

    (26,188

    )

    Real estate development expenditures

     

     

    (2,783

    )

     

     

    (2,583

    )

     

     

    (4,261

    )

     

     

    (8,088

    )

     

     

    (11,504

    )

    Funding of pension and other postretirement employee benefits

     

     

    (1,262

    )

     

     

    (5,168

    )

     

     

    (1,160

    )

     

     

    (8,565

    )

     

     

    (3,336

    )

    Proceeds from insurance recoveries

     

     

    —

     

     

     

    —

     

     

     

    14,645

     

     

     

    1,680

     

     

     

    36,400

     

    Net cash from operating activities

     

     

    45,408

     

     

     

    26,453

     

     

     

    41,803

     

     

     

    188,470

     

     

     

    159,111

     

     

     

     

     

     

     

     

     

     

     

     

    CASH FLOWS FROM INVESTING ACTIVITIES

     

     

     

     

     

     

     

     

     

     

    Property, plant and equipment additions

     

     

    (11,713

    )

     

     

    (25,575

    )

     

     

    (67,848

    )

     

     

    (63,891

    )

     

     

    (95,916

    )

    Timberlands reforestation and roads

     

     

    (5,474

    )

     

     

    (6,476

    )

     

     

    (6,850

    )

     

     

    (24,764

    )

     

     

    (23,863

    )

    Acquisition of timber and timberlands

     

     

    (38

    )

     

     

    (822

    )

     

     

    (158

    )

     

     

    (32,341

    )

     

     

    (1,834

    )

    Proceeds from property insurance

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    1,356

     

    Interest received under swaps with other-than-insignificant financing element

     

     

    6,700

     

     

     

    7,010

     

     

     

    6,478

     

     

     

    27,634

     

     

     

    23,757

     

    Other, net

     

     

    548

     

     

     

    134

     

     

     

    496

     

     

     

    1,300

     

     

     

    1,196

     

    Net cash from investing activities

     

     

    (9,977

    )

     

     

    (25,729

    )

     

     

    (67,882

    )

     

     

    (92,062

    )

     

     

    (95,304

    )

     

     

     

     

     

     

     

     

     

     

     

    CASH FLOWS FROM FINANCING ACTIVITIES

     

     

     

     

     

     

     

     

     

     

    Distributions to common stockholders

     

     

    (35,408

    )

     

     

    (35,486

    )

     

     

    (35,715

    )

     

     

    (142,350

    )

     

     

    (143,595

    )

    Repurchase of common stock

     

     

    (7,604

    )

     

     

    (3,508

    )

     

     

    (13,605

    )

     

     

    (35,017

    )

     

     

    (25,011

    )

    Proceeds from long-term debt

     

     

    176,000

     

     

     

    —

     

     

     

    40,000

     

     

     

    176,000

     

     

     

    40,000

     

    Repayment of long-term debt

     

     

    (175,735

    )

     

     

    —

     

     

     

    (40,000

    )

     

     

    (175,735

    )

     

     

    (40,000

    )

    Other, net

     

     

    (2,090

    )

     

     

    (943

    )

     

     

    (789

    )

     

     

    (5,269

    )

     

     

    (3,104

    )

    Net cash from financing activities

     

     

    (44,837

    )

     

     

    (39,937

    )

     

     

    (50,109

    )

     

     

    (182,371

    )

     

     

    (171,710

    )

    Change in cash, cash equivalents and restricted cash

     

     

    (9,406

    )

     

     

    (39,213

    )

     

     

    (76,188

    )

     

     

    (85,963

    )

     

     

    (107,903

    )

    Cash, cash equivalents and restricted cash at beginning of period

     

     

    161,131

     

     

     

    200,344

     

     

     

    313,876

     

     

     

    237,688

     

     

     

    345,591

     

    Cash, cash equivalents and restricted cash at end of period1

     

    $

    151,725

     

     

    $

    161,131

     

     

    $

    237,688

     

     

    $

    151,725

     

     

    $

    237,688

     

    1

    Includes $0.2 million, $0.0 million, and $7.6 million at December 31, 2024, September 30, 2024, and December 31, 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

     

    Year Ended

     

     

    December 31,

     

    September 30,

     

    December 31,

     

    December 31,

    (in thousands)

     

     

    2024

     

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

    Revenues

     

     

     

     

     

     

     

     

     

     

    Timberlands

     

    $

    95,285

     

     

    $

    105,132

     

     

    $

    97,414

     

     

    $

    392,169

     

     

    $

    411,077

     

    Wood Products

     

     

    160,335

     

     

     

    139,412

     

     

     

    150,100

     

     

     

    601,924

     

     

     

    635,672

     

    Real Estate

     

     

    25,089

     

     

     

    38,701

     

     

     

    27,909

     

     

     

    170,629

     

     

     

    87,988

     

     

     

     

    280,709

     

     

     

    283,245

     

     

     

    275,423

     

     

     

    1,164,722

     

     

     

    1,134,737

     

    Intersegment Timberlands revenues

     

     

    (22,562

    )

     

     

    (28,114

    )

     

     

    (20,920

    )

     

     

    (102,646

    )

     

     

    (110,656

    )

    Other intersegment revenues

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (6

    )

    Consolidated revenues

     

    $

    258,147

     

     

    $

    255,131

     

     

    $

    254,503

     

     

    $

    1,062,076

     

     

    $

    1,024,075

     

     

     

     

     

     

     

     

     

     

     

     

    Adjusted EBITDDA1

     

     

     

     

     

     

     

     

     

     

    Timberlands

     

    $

    34,033

     

     

    $

    35,824

     

     

    $

    33,304

     

     

    $

    138,729

     

     

    $

    151,321

     

    Wood Products

     

     

    8,871

     

     

     

    (9,581

    )

     

     

    (6,488

    )

     

     

    (7,654

    )

     

     

    20,487

     

    Real Estate

     

     

    19,364

     

     

     

    31,861

     

     

     

    21,908

     

     

     

    147,021

     

     

     

    67,775

     

    Corporate

     

     

    (12,441

    )

     

     

    (12,203

    )

     

     

    (12,448

    )

     

     

    (49,065

    )

     

     

    (45,406

    )

    Eliminations and adjustments

     

     

    3,476

     

     

     

    1

     

     

     

    4,458

     

     

     

    3,069

     

     

     

    6,057

     

    Total Adjusted EBITDDA

     

     

    53,303

     

     

     

    45,902

     

     

     

    40,734

     

     

     

    232,100

     

     

     

    200,234

     

    Interest expense, net2

     

     

    (10,874

    )

     

     

    (9,635

    )

     

     

    (8,435

    )

     

     

    (28,923

    )

     

     

    (24,218

    )

    Depreciation, depletion and amortization

     

     

    (26,347

    )

     

     

    (25,487

    )

     

     

    (30,419

    )

     

     

    (111,497

    )

     

     

    (119,518

    )

    Basis of real estate sold

     

     

    (13,348

    )

     

     

    (12,905

    )

     

     

    (9,768

    )

     

     

    (86,870

    )

     

     

    (31,392

    )

    CatchMark merger-related expenses

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (2,453

    )

    Gain on fire damage

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    39,436

     

    Non-operating pension and other postretirement employee benefits

     

     

    201

     

     

     

    200

     

     

     

    (229

    )

     

     

    803

     

     

     

    (914

    )

    Loss on disposal of assets

     

     

    (274

    )

     

     

    (338

    )

     

     

    (518

    )

     

     

    (541

    )

     

     

    (557

    )

    Other

     

     

    1,767

     

     

     

    1,516

     

     

     

    629

     

     

     

    3,115

     

     

     

    1,267

     

    Income (loss) before income taxes

     

    $

    4,428

     

     

    $

    (747

    )

     

    $

    (8,006

    )

     

    $

    8,187

     

     

    $

    61,885

     

     

     

     

     

     

     

     

     

     

     

     

    Depreciation, depletion and amortization

     

     

     

     

     

     

     

     

     

     

    Timberlands

     

    $

    16,562

     

     

    $

    16,778

     

     

    $

    19,386

     

     

    $

    67,755

     

     

    $

    75,009

     

    Wood Products

     

     

    9,447

     

     

     

    8,395

     

     

     

    10,783

     

     

     

    42,585

     

     

     

    43,506

     

    Real Estate

     

     

    137

     

     

     

    138

     

     

     

    129

     

     

     

    549

     

     

     

    526

     

    Corporate

     

     

    201

     

     

     

    176

     

     

     

    121

     

     

     

    608

     

     

     

    477

     

     

     

     

    26,347

     

     

     

    25,487

     

     

     

    30,419

     

     

     

    111,497

     

     

     

    119,518

     

    Bond discounts and deferred loan fees2

     

     

    382

     

     

     

    406

     

     

     

    408

     

     

     

    1,601

     

     

     

    1,636

     

    Total depreciation, depletion and amortization

     

    $

    26,729

     

     

    $

    25,893

     

     

    $

    30,827

     

     

    $

    113,098

     

     

    $

    121,154

     

     

     

     

     

     

     

     

     

     

     

     

    Basis of real estate sold

     

     

     

     

     

     

     

     

     

     

    Real Estate

     

    $

    13,348

     

     

    $

    12,908

     

     

    $

    9,802

     

     

    $

    86,878

     

     

    $

    31,431

     

    Eliminations and adjustments

     

     

    —

     

     

     

    (3

    )

     

     

    (34

    )

     

     

    (8

    )

     

     

    (39

    )

    Total basis of real estate sold

     

    $

    13,348

     

     

    $

    12,905

     

     

    $

    9,768

     

     

    $

    86,870

     

     

    $

    31,392

     

    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

     

    Year ended

     

     

    December 31,

     

    September 30,

     

    December 31,

     

    December 31,

    (in thousands, except per share amounts)

     

     

    2024

     

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

    Total Adjusted EBITDDA1

     

     

     

     

     

     

     

     

     

     

    Net income (loss) (GAAP)

     

    $

    5,194

     

     

    $

    3,309

     

     

    $

    (140

    )

     

    $

    21,876

     

     

    $

    62,101

     

    Interest, net

     

     

    10,874

     

     

     

    9,635

     

     

     

    8,435

     

     

     

    28,923

     

     

     

    24,218

     

    Income taxes

     

     

    (766

    )

     

     

    (4,056

    )

     

     

    (7,866

    )

     

     

    (13,689

    )

     

     

    (216

    )

    Depreciation, depletion and amortization

     

     

    26,347

     

     

     

    25,487

     

     

     

    30,419

     

     

     

    111,497

     

     

     

    119,518

     

    Basis of real estate sold

     

     

    13,348

     

     

     

    12,905

     

     

     

    9,768

     

     

     

    86,870

     

     

     

    31,392

     

    CatchMark merger-related expenses

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    2,453

     

    Gain on fire damage

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (39,436

    )

    Non-operating pension and other postretirement benefit costs

     

     

    (201

    )

     

     

    (200

    )

     

     

    229

     

     

     

    (803

    )

     

     

    914

     

    Loss on disposal of assets

     

     

    274

     

     

     

    338

     

     

     

    518

     

     

     

    541

     

     

     

    557

     

    Other

     

     

    (1,767

    )

     

     

    (1,516

    )

     

     

    (629

    )

     

     

    (3,115

    )

     

     

    (1,267

    )

    Total Adjusted EBITDDA

     

    $

    53,303

     

     

    $

    45,902

     

     

    $

    40,734

     

     

    $

    232,100

     

     

    $

    200,234

     

     

     

     

     

     

     

     

     

     

     

     

    Adjusted Net Income (Loss)1

     

     

     

     

     

     

     

     

     

     

    Net income (loss) (GAAP)

     

    $

    5,194

     

     

    $

    3,309

     

     

    $

    (140

    )

     

    $

    21,876

     

     

    $

    62,101

     

    Special items after tax:

     

     

     

     

     

     

     

     

     

     

    CatchMark merger-related expenses

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    2,453

     

    Gain on fire damage

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (29,577

    )

    Adjusted Net Income (Loss)

     

    $

    5,194

     

     

    $

    3,309

     

     

    $

    (140

    )

     

    $

    21,876

     

     

    $

    34,977

     

     

     

     

     

     

     

     

     

     

     

     

    Adjusted Net Income (Loss) Per Diluted Share1

     

     

     

     

     

     

     

     

     

     

    Net income (loss) per diluted share (GAAP)

     

    $

    0.07

     

     

    $

    0.04

     

     

    $

    —

     

     

    $

    0.28

     

     

    $

    0.77

     

    Special items after tax:

     

     

     

     

     

     

     

     

     

     

    CatchMark merger-related expenses

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    0.03

     

    Gain on fire damage

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (0.37

    )

    Adjusted Net Income (Loss) Per Diluted Share

     

    $

    0.07

     

     

    $

    0.04

     

     

    $

    —

     

     

    $

    0.28

     

     

    $

    0.43

     

    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/20250127808735/en/

    Investors

    Wayne Wasechek

    509.835.1521

    Media

    Anna Torma

    509.835.1558

    Get the next $PCH alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $PCH

    DatePrice TargetRatingAnalyst
    12/23/2024$45.00Mkt Perform → Outperform
    Raymond James
    12/6/2024$51.00Market Perform → Outperform
    BMO Capital Markets
    9/12/2024$51.00Neutral → Buy
    BofA Securities
    5/1/2024$45.00 → $46.00Sector Perform → Outperform
    RBC Capital Mkts
    11/27/2023Strong Buy → Mkt Perform
    Raymond James
    7/19/2023$55.00Outperform → Sector Perform
    RBC Capital Mkts
    10/18/2022$50.00 → $55.00Sector Perform → Outperform
    RBC Capital Mkts
    6/29/2022$50.00Hold
    Truist
    More analyst ratings

    $PCH
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • PotlatchDeltic Executives to Present at REITweek Conference in New York

      PotlatchDeltic Corporation (NASDAQ:PCH) announced today Eric J. Cremers, president and chief executive officer, and Wayne Wasechek, vice president and chief financial officer, will provide a company overview to investors at the REITweek Conference in New York, June 4, 2025 at approximately 8:00 am Eastern Time. The live audio webcast of the presentation will be available via the Investors page on PotlatchDeltic's website at www.potlatchdeltic.com. An archived version of the Company's webcast will also be available on this site following the presentation for approximately 30 days. About PotlatchDeltic PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) with owners

      5/22/25 3:00:00 PM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate
    • PotlatchDeltic Board Declares Distribution on Common Stock

      The board of directors of PotlatchDeltic Corporation (NASDAQ:PCH) declared a quarterly distribution on the Company's common stock. The distribution of $0.45 per share is payable June 30, 2025 to stockholders of record on June 6, 2025. About PotlatchDeltic PotlatchDeltic (NASDAQ:PCH) is a leading Real Estate Investment Trust (REIT) with ownership of 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 le

      5/8/25 5:00:00 PM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate
    • PotlatchDeltic Corporation Reports First Quarter 2025 Results

      PotlatchDeltic Corporation (NASDAQ:PCH) today reported net income of $25.8 million, or $0.33 per diluted share, on revenues of $268.3 million for the quarter ended March 31, 2025. Net loss was $0.3 million, or $0.00 per diluted share, on revenues of $228.1 million for the quarter ended March 31, 2024. First Quarter 2025 Highlights Generated Total Adjusted EBITDDA of $63.4 million and Total Adjusted EBITDDA margin of 23.6% Waldo, Arkansas sawmill ramp-up complete; achieved targeted production metrics and run rate for annual nameplate capacity of 275 million board feet Repurchased 93,100 shares for $4.1 million, or $45 per share Maintained strong liquidity of $447 million as of March

      4/28/25 4:10:00 PM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate

    $PCH
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by PotlatchDeltic Corporation

      SC 13G/A - POTLATCHDELTIC CORP (0001338749) (Subject)

      11/8/24 10:29:30 AM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate
    • SEC Form SC 13G/A filed by PotlatchDeltic Corporation (Amendment)

      SC 13G/A - POTLATCHDELTIC CORP (0001338749) (Subject)

      2/13/24 4:55:57 PM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate
    • SEC Form SC 13G filed by PotlatchDeltic Corporation

      SC 13G - POTLATCHDELTIC CORP (0001338749) (Subject)

      2/8/24 10:22:53 AM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate

    $PCH
    Leadership Updates

    Live Leadership Updates

    See more
    • PotlatchDeltic Appoints Wayne Wasechek as Chief Financial Officer

      PotlatchDeltic Corporation (NASDAQ:PCH) today announced the appointment of Wayne Wasechek as Vice President, Chief Financial Officer, effective immediately. Wasechek has served as Interim Vice President, Chief Financial Officer and Chief Accounting Officer, since April 19, 2023. "Following a robust search process supported by an external firm, I have great confidence that Wayne is the right person for this role," said Eric Cremers, President and Chief Executive Officer. "He brings deep financial expertise, a comprehensive understanding of our industry and of our business, and I am certain that with his leadership, we will build on our strong track record." "I am honored to have the oppo

      8/29/23 5:25:00 PM ET
      $MTN
      $PCH
      Services-Misc. Amusement & Recreation
      Consumer Discretionary
      Real Estate Investment Trusts
      Real Estate
    • PotlatchDeltic names Ashlee Cribb Vice President, Wood Products

      PotlatchDeltic Corporation (NASDAQ:PCH) announced today the appointment of Ashlee Cribb as Vice President, Wood Products effective July 28. Ashlee succeeds Tom Temple, who will be retiring later this year. "We are thrilled to welcome Ashlee to the role of Vice President, Wood Products," said Eric Cremers, PotlatchDeltic's President and Chief Executive Officer. "Ashlee brings extensive knowledge and a strong track record with over thirty years of industry experience including positions at Georgia Pacific LLC and Roseburg Forest Products. Most recently, Ashlee served as the Senior Vice President, Chief Commercial Officer at Roseburg Forest Products in Springfield, Oregon, and prior to that h

      7/12/21 5:00:00 PM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate

    $PCH
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • PotlatchDeltic upgraded by Raymond James with a new price target

      Raymond James upgraded PotlatchDeltic from Mkt Perform to Outperform and set a new price target of $45.00

      12/23/24 7:25:24 AM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate
    • PotlatchDeltic upgraded by BMO Capital Markets with a new price target

      BMO Capital Markets upgraded PotlatchDeltic from Market Perform to Outperform and set a new price target of $51.00

      12/6/24 8:00:34 AM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate
    • PotlatchDeltic upgraded by BofA Securities with a new price target

      BofA Securities upgraded PotlatchDeltic from Neutral to Buy and set a new price target of $51.00

      9/12/24 9:07:13 AM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate

    $PCH
    SEC Filings

    See more
    • PotlatchDeltic Corporation filed SEC Form 8-K: Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits

      8-K - POTLATCHDELTIC CORP (0001338749) (Filer)

      5/7/25 4:10:14 PM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate
    • SEC Form 10-Q filed by PotlatchDeltic Corporation

      10-Q - POTLATCHDELTIC CORP (0001338749) (Filer)

      5/2/25 11:46:44 AM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate
    • PotlatchDeltic Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits

      8-K - POTLATCHDELTIC CORP (0001338749) (Filer)

      4/28/25 4:19:41 PM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate

    $PCH
    Financials

    Live finance-specific insights

    See more
    • PotlatchDeltic Corporation Reports First Quarter 2025 Results

      PotlatchDeltic Corporation (NASDAQ:PCH) today reported net income of $25.8 million, or $0.33 per diluted share, on revenues of $268.3 million for the quarter ended March 31, 2025. Net loss was $0.3 million, or $0.00 per diluted share, on revenues of $228.1 million for the quarter ended March 31, 2024. First Quarter 2025 Highlights Generated Total Adjusted EBITDDA of $63.4 million and Total Adjusted EBITDDA margin of 23.6% Waldo, Arkansas sawmill ramp-up complete; achieved targeted production metrics and run rate for annual nameplate capacity of 275 million board feet Repurchased 93,100 shares for $4.1 million, or $45 per share Maintained strong liquidity of $447 million as of March

      4/28/25 4:10:00 PM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate
    • PotlatchDeltic Scheduled to Release First Quarter 2025 Earnings on April 28, 2025

      PotlatchDeltic Corporation (NASDAQ:PCH) will release first quarter earnings on Monday, April 28, after the market closes. The company will hold a live conference call and webcast on Tuesday, April 29 at 9:00 a.m. Pacific Time (12:00 p.m. Eastern Time) to discuss the results. 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. A replay of the conference call will be available two hours following the call until May 6, 2025, by calling 1-800-770-2030 for U.S./Canada or 1-609-800-990

      4/1/25 3:00:00 PM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate
    • PotlatchDeltic Corporation Reports Fourth Quarter and Full Year 2024 Results

      PotlatchDeltic Corporation (NASDAQ:PCH) today reported net income of $5.2 million, or $0.07 per diluted share, on revenues of $258.1 million for the quarter ended December 31, 2024. Net loss was $0.1 million, or $0.00 per diluted share, on revenues of $254.5 million for the quarter ended December 31, 2023. Net income for the full year 2024 was $21.9 million, or $0.28 per diluted share, on revenues of $1.1 billion. Net income for the full year 2023 was $62.1 million, or $0.77 per diluted share, on revenues of $1.0 billion. Excluding after tax special items consisting of gain on insurance recoveries and CatchMark merger-related expenses, adjusted net income was $35.0 million, or $0.43 per d

      1/27/25 4:10:00 PM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate

    $PCH
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Director Covey Michael J was granted 3,408 shares, increasing direct ownership by 3% to 126,737 units (SEC Form 4)

      4 - POTLATCHDELTIC CORP (0001338749) (Issuer)

      5/8/25 8:00:07 PM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate
    • Director Alonzo Anne L. was granted 3,408 shares, increasing direct ownership by 40% to 11,964 units (SEC Form 4)

      4 - POTLATCHDELTIC CORP (0001338749) (Issuer)

      5/8/25 8:00:08 PM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate
    • Director Driscoll William Lindeke was granted 3,408 shares, increasing direct ownership by 3% to 123,244 units (SEC Form 4)

      4 - POTLATCHDELTIC CORP (0001338749) (Issuer)

      5/8/25 8:00:09 PM ET
      $PCH
      Real Estate Investment Trusts
      Real Estate