PotlatchDeltic Corporation Reports Third Quarter 2024 Financial Results
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Key Financial Metrics Revenue by Segment Performance Key Developments and Operational Highlights Comments from Company Officers Share Repurchase Program Forward Guidance Stock Price MovementFree Financial AI Agent for Investment
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Is PCH.O earnings result positive or negative?How should I trade on PCH.O earnings?PotlatchDeltic Corporation Reports Third Quarter 2024 Financial Results
PotlatchDeltic Corporation (NASDAQ:PCH) has announced its financial results for the third quarter ending September 30, 2024.
Key Financial Metrics
| Metric | Q3 2024 | Q3 2023 | YoY Change | Consensus Est. |
|---|---|---|---|---|
| Total Revenue | $255.1 million | $265.5 million | ↓ 3.9% | $241.06M |
| Earnings Per Share (EPS) | $0.04 | $0.29 | ↓ $0.25 | ($-0.06) |
PotlatchDeltic's revenue for Q3 2024 exceeded Wall Street consensus estimates. However, earnings per share showed a year-over-year decline due to a challenging lumber market and economic conditions, though they significantly outperformed the expected negative EPS.
Revenue by Segment Performance
| Segment | Adjusted EBITDDA Q3 2024 | Commentary |
|---|---|---|
| Timberlands | Increased $1.6 million | Benefited from seasonal increased northern harvest |
| Wood Products | Decreased $2.8 million | Decreased lumber prices and higher manufacturing costs |
| Real Estate | Decreased $57.8 million | Lack of major sale compared to previous quarter |
Interpretation: The Timberlands segment performed well due to seasonality, despite mixed pricing trends. Wood Products and Real Estate segments faced headwinds, including lower lumber pricing and absence of substantial land sales respectively.
Key Developments and Operational Highlights
- Generated Total Adjusted EBITDDA of $45.9 million with a margin of 18%.
- Completed modernization and expansion of the Waldo, Arkansas sawmill.
- Auto repurchase of 57,000 shares for $2.4 million.
Comments from Company Officers
Eric Cremers, CEO, highlighted the successful completion of the Waldo sawmill project, positioning it for significant future EBITDDA growth. He also noted improving stability in lumber markets and the potential positive impacts of lower interest rates on housing and renovation markets.
Share Repurchase Program
PotlatchDeltic repurchased shares worth $2.4 million, reflecting a commitment to shareholder returns.
Forward Guidance
The company provided forward-looking statements regarding improvements in market conditions and strategic capital allocation but did not specify detailed financial guidance figures.
Stock Price Movement
Post-earnings, PotlatchDeltic’s stock saw a slight increase of approximately 0.21%.
PotlatchDeltic remains a key player in sustainable forestry and real estate, aiming to leverage investments to strengthen market position amid evolving economic dynamics.
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