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PotlatchDeltic Corporation (PCH+1.41%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenues of $1.06 billion, an increase from $1.02 billion in 2023. This increase is attributed to higher rural real estate sales, including a significant timberland sale, and increased real estate development sales.
Cost of goods sold rose to $945.7 million from $899.6 million in the previous year, reflecting higher real estate sales and increased employee-related costs.
The company reported a net income of $21.9 million, down from $62.1 million in 2023, primarily due to lower lumber prices and decreased Northern sawlog volumes and prices.
Total Adjusted EBITDDA increased to $232.1 million from $200.2 million in 2023, driven by increased real estate sales.
The Timberlands segment reported revenues of $392.2 million, a decrease from $411.1 million in 2023, due to lower Northern sawlog prices and volumes.
The Wood Products segment saw revenues decline to $601.9 million from $635.7 million, impacted by lower lumber prices.
The Real Estate segment's revenues increased significantly to $170.6 million from $88.0 million, driven by a large timberland sale and higher residential lot prices.
The company completed a major expansion and modernization project at its Waldo, Arkansas sawmill, expected to increase capacity and reduce costs.
PotlatchDeltic reported cash and cash equivalents of $151.6 million at year-end, with plans for capital expenditures of $60 to $65 million in 2025.
The company remains focused on managing its timberlands sustainably and capitalizing on real estate opportunities, while addressing potential impacts from climate change.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the PotlatchDeltic Corporation annual 10-K report dated February 13, 2025. To report an error, please email earnings@qz.com.