Potlatch (PCH) Tops Q3 EPS by 3c

Potlatch (NASDAQ: PCH) reported Q3 EPS of $0.68, $0.03 better than the analyst estimate of $0.65. Revenue for the quarter came in at $174 million versus the consensus estimate of $180.07 million.

"All three of our business segments contributed to our solid third quarter results," said Mike Covey, chairman and chief executive officer. "Our Northern Resource log prices were very strong during the quarter, led by cedar sawlogs. Wood Products set a quarterly lumber production record and delivered its strongest earnings in two years. Real Estate continues to identify and close transactions that create value. We also refinanced $65.7 million of tax exempt bonds which reduced the interest rate from 6% to 2.75% and we did not repurchase any shares in the quarter. Our stock price increased 14% in the third quarter and is up 30% this year," stated Mr. Covey.

For earnings history and earnings-related data on Potlatch (PCH) click here.

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