Plum Creek Timber Co. (PCL) Tops Q3 EPS by 4c

Plum Creek Timber Co. (NYSE: PCL) reported Q3 EPS of $0.34, $0.04 better than the analyst estimate of $0.30. Revenue for the quarter came in at $375 million versus the consensus estimate of $379 million.

“During the third quarter, Plum Creek performed well in a continuing slow-growth environment,” said Rick Holley, chief executive officer. “Strong timber markets in our Northern Resources segment, combined with incremental harvest from the timberlands acquired last December, resulted in good operating income growth from our timber resources segments. Our Manufacturing operations are producing another strong year of performance while our Energy and Natural Resources segment is contributing to earnings and cash flow growth as well.

“The assets we acquired from MeadWestvaco continue to perform in-line with our expectations, and have contributed more than $61 million in operating cash flow for the first nine months of the year. As expected, the acquisition will be cash accretive on a per share basis in 2014.”

For earnings history and earnings-related data on Plum Creek Timber Co. (PCL) click here.

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