Potlatch (PCH) Tops Q3 EPS by 6c

Potlatch (NASDAQ: PCH) reported Q3 EPS of $0.30, $0.06 better than the analyst estimate of $0.24. Revenue for the quarter came in at $226.3 million versus the consensus estimate of $234.68 million.

"Our third quarter Adjusted EBITDDA was $55 million, as our businesses executed well on factors within their control,” said Mike Covey, chairman and chief executive officer. “Real Estate continues to have a strong year, selling double the number of rural acres that we expected as well as closing a commercial real estate transaction in Chenal Valley during the third quarter. Wood Products established new quarterly lumber production and shipping records and remains on pace to complete $40 million of capital projects to expand capacity and increase grade recovery. While Timberlands scaled back Southern harvest volumes in the third quarter due to full mill inventories, the segment benefited from higher than expected Southern sawlog prices. Looking forward, we remain optimistic that the lumber market will improve,” stated Mr. Covey.

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Silexion Therapeutics (SLXN) Tops Q2 EPS by 793c
• Optimum Communications gets NYSE non-compliance notice over stock price