Potlatch (PCH) Tops Q2 EPS by 2c, Revenues Beat

Potlatch (NASDAQ: PCH) reported Q2 EPS of $0.04, $0.02 better than the analyst estimate of $0.02. Revenue for the quarter came in at $181.6 million versus the consensus estimate of $175.46 million.

Second Quarter 2020 Highlights

• Generated $35.3 million of Total Adjusted EBITDDA and Total Adjusted EBITDDA margin of 19%
• Announced agreement to sell ~72,000 acres in Minnesota for ~$48 million
• Maintained strong liquidity of $460 million as of Q2 2020

"Our employees did an excellent job managing through the constraints and challenges imposed by the COVID pandemic and our three business segments performed well during what is typically our seasonally lightest quarter,” said Mike Covey, chairman and chief executive officer. "Lumber markets are in the midst of a historic run and we are focused on safely meeting customer demand. Cash generated from operations, along with proceeds from the Minnesota transaction that we announced in the second quarter, will further enhance our strong liquidity and provide additional flexibility to maximize shareholder value," stated Mr. Covey.

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

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