Potlatch (PCH) Tops Q3 EPS by 7c, Revenues Beat

Potlatch (NASDAQ: PCH) reported Q3 EPS of $1.20, $0.07 better than the analyst estimate of $1.13. Revenue for the quarter came in at $313 million versus the consensus estimate of $308.36 million.

Third Quarter 2020 Highlights

• Generated record quarterly Total Adjusted EBITDDA of $135.4 million and Total Adjusted EBITDDA margin of 43%
• Historic lumber prices drove Wood Products record quarterly Adjusted EBITDDA performance
• Timberlands set quarterly records for harvest volume and Adjusted EBITDDA
• Expanded strong liquidity position to $528 million as of Q3 2020

“Our Timberlands and Wood Products businesses achieved record financial performance as outstanding operational execution by our employees capitalized on the historic run in lumber prices against the backdrop of a challenging COVID environment,” said Mike Covey, chairman and chief executive officer. “Looking to the fourth quarter of 2020, our financial results will continue to benefit from high lumber prices through an extended lumber order file and lagged index pricing on our Idaho sawlogs. Additionally, we expect that our Real Estate business will finish the year very strong by closing a large Minnesota transaction. PotlatchDeltic is well positioned to take advantage of favorable industry fundamentals and our strong liquidity provides a high degree of flexibility as we seek to maximize shareholder value,” stated Mr. Covey.

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

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