NASDAQ$PCH

PotlatchDeltic Corp · Q3 2020 earnings

Q3 2020 earnings · · Investor relations

Briefing

PotlatchDeltic reported record financial performance driven by outstanding operational execution and historic lumber prices.

PotlatchDeltic Corporation reported net income of $81.0 million, or $1.20 per diluted share, on revenues of $313.0 million for the quarter ended September 30, 2020. The company's Timberlands and Wood Products businesses achieved record financial performance due to outstanding operational execution and historic lumber prices.

  • 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

Headline financials

Total Revenue

$313M

Previous: $226M+38.3%
EPS (adj)

$1.20

Previous: $0.30+300.0%
Rural Land Acres Sold

11.0K

Previous: 11.0K+0.0%
Residential Lots Sold

26

No prior period
Capital Expenditures

-$4.74M

Previous: -$278K-1604.3%
Free Cash Flow

$186M

Previous: $105M+77.0%
Net Income

$81M

Previous: $20.6M+293.9%
Operating Income

$110M

Previous: $31.2M+252.5%
Gross Profit

$131M

Previous: $43.7M+200.0%
Cash & Equivalents

$149M

Previous: $94.7M+57.2%
Total Assets

$2.3B

Previous: $2.26B+1.8%
Stock-Based Comp

$2.06M

Previous: $1.91M+7.8%

Revenue & EPS history

PotlatchDeltic · Revenue · Quarterly

$313M

Q3 2020+38.3%vs Q3 2019
Beat estimate in 15 of 16 quarters(94%)
ActualEstimate

Revenue by segment

PotlatchDeltic · $353M total across 3 segments · Q3 2020

  • Wood Products
    $218M+52.0%
  • Timberlands
    $117M+18.4%
  • Real Estate
    $18.2M-3.8%

Forward guidance

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.

Tailwinds

  • Financial results will continue to benefit from high lumber prices
  • Extended lumber order file
  • Lagged index pricing on Idaho sawlogs
  • Real Estate business will finish the year very strong
  • Closing a large Minnesota transaction

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 16 quarterly earnings reports

Historical avg

-0.2%

Avg return

Earnings day

-0.5%

Avg return

5 days after

-0.2%

Avg return

30 days after

51%

34 / 67 earnings

Positive

+7.6%

Q3 2015

Best reaction

-10.3%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2025+0.1%+6.3%-0.2%
Q2 2025+2.7%+1.7%+2.7%
Q1 2025-0.8%-0.2%+1.6%
Q4 2024-0.8%+4.5%+7.9%
Q3 2024-4.0%-1.7%+5.4%
Q2 2024+4.9%-0.1%-0.5%
Q1 2024-0.7%-3.8%-14.9%
Q4 2023+1.0%-1.1%-7.0%
Q3 2023+3.0%-0.2%+2.6%
Q2 2023-0.6%-0.2%-7.7%
Q1 2023+1.2%+1.0%-3.8%
Q4 2022-2.7%-5.5%+0.9%
Q3 2022-0.0%-1.8%+8.4%
Q2 2022+2.9%-0.0%-3.2%
Q1 2022-0.3%-2.9%+3.3%
Q4 2021-3.0%-3.7%+1.0%
Q3 2021-2.7%
Q2 2021+1.0%
Q1 2021+3.3%
Q4 2020+2.5%
Q3 2020-9.4%
Q2 2020+2.0%
Q1 2020-10.3%
Q4 2019+0.0%
Q3 2019-2.8%
Q2 2019-7.3%
Q1 2019+0.1%
Q4 2018-1.5%
Q3 2018+3.0%
Q2 2018-0.9%
Q1 2018-0.1%
Q4 2017-3.8%
Q3 2017-3.5%
Q2 2017+1.8%
Q1 2017+1.0%
Q4 2016+2.4%
Q3 2016+0.6%
Q2 2016+0.1%
Q1 2016+0.4%
Q4 2015+2.4%
Q3 2015+7.6%
Q2 2015+0.4%
Q1 2015-0.8%
Q4 2014-0.8%
Q3 2014-1.7%
Q2 2014+1.4%
Q1 2014+3.2%
Q4 2013+0.3%
Q3 2013-1.0%
Q2 2013+1.5%
Q1 2013-0.8%
Q4 2012+0.4%
Q3 2012-0.1%
Q2 2012+0.7%
Q1 2012+0.4%
Q4 2011-0.5%
Q3 2011-5.0%
Q2 2011-1.6%
Q1 2010-1.9%
Q1 2011+2.1%
Q4 2008-1.1%
Q4 2010-1.1%
Q3 2010-0.1%
Q3 2009-0.1%
Q2 2010+1.7%
Q2 2009+1.7%
Q4 2009+1.7%

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