PotlatchDeltic Corp · Q2 2020 earnings

Briefing

PotlatchDeltic reported second quarter results, navigating COVID-19 constraints and challenges.

PotlatchDeltic Corporation reported net income of $2.6 million, or $0.04 per diluted share, on revenues of $181.6 million for the quarter ended June 30, 2020. The company maintained strong liquidity of $460 million and announced an agreement to sell approximately 72,000 acres in Minnesota for approximately $48 million.

• 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
• Lumber markets are in the midst of a historic run

Headline financials

Revenue & EPS history

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended, including without limitation, our expectations regarding the company’s current and expected liquidity; ability to manage the effects of COVID-19 on demand for our products and on our ability to continue operations; the success of the company’s business strategies; the company’s intent to refinance debt maturing in 2020 and beyond; maintaining the company’s investment grade credit rating; favorable capital structure and strong balance sheet; interest rates and expenses; corporate expenses; pension expenses; taxes; third quarter 2020 outlook; U.S. housing market and repair and remodel market; U.S. housing starts; lumber demand and pricing; revenues, costs and expenses; lumber shipment volumes; expected sawlog demand and timber harvest volumes; sawlog mix and pricing; rural real estate and residential real estate development sales, including the closing of the sale of approximately 72,000 rural acres in the fourth quarter of 2020, and average price per acre and developed lot; planned capital expenditures in 2020; business conditions; and similar matters.