PotlatchDeltic Corporation (PCH) reports earnings

The report was filed on February 13, 2025

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PotlatchDeltic Corporation (PCH-4.61%) 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.

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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.

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Total Adjusted EBITDDA increased to $232.1 million from $200.2 million in 2023, driven by increased real estate sales.

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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.

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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.

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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.

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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.