PotlatchDeltic Corporation Reports First Quarter 2025 Results

PotlatchDeltic Corporation reported net income of $25.8 million, or $0.33 per diluted share, on revenues of $268.3 million for the quarter ended March 31, 2025. Net loss was $0.3 million, or $0.00 per diluted share, on revenues of $228.1 million for the quarter ended March 31, 2024.

First Quarter 2025 Highlights

• Generated Total Adjusted EBITDDA of $63.4 million and Total Adjusted EBITDDA margin of 23.6%
• Waldo, Arkansas sawmill ramp-up complete; achieved targeted production metrics and run rate for annual nameplate capacity of 275 million board feet
• Repurchased 93,100 shares for $4.1 million, or $45 per share
• Maintained strong liquidity of $447 million as of March 31, 2025

“For the first quarter, we delivered solid operational results across all of our business segments despite the prevailing economic and trade policy uncertainties affecting the market,” stated Eric Cremers, President and Chief Executive Officer. “Additionally, the modernization and expansion project at the Waldo, Arkansas sawmill has been completed three months ahead of schedule. This successful project is a valuable enhancement to our Waldo sawmill, significantly improving the competitiveness of the mill. Looking forward, while the broader macroeconomic environment remains unpredictable, our strong balance sheet, operational discipline, and prudent capital allocation strategy give us the flexibility to be opportunistic, positioning us well to deliver long-term value for our shareholders,” stated Mr. Cremers.

Business Performance: Q1 2025 vs. Q4 2024

Timberlands

First Quarter 2025 Highlights

• Timberlands Adjusted EBITDDA increased $8.4 million from Q4 2024
• Northern harvest volumes increased due to favorable harvest conditions and contractor availability
• Northern sawlog prices increased 9% primarily due to higher indexed and cedar sawlog prices
• Southern sawlog prices declined primarily due to higher mix of smaller diameter logs
• Forest management costs decreased due to seasonally lower activity

Wood Products

First Quarter 2025 Highlights

• Wood Products Adjusted EBITDDA increased $2.9 million from Q4 2024
• Average lumber price increased 2% to $454 per thousand board feet (MBF) in Q1 2025
• Lower per-unit manufacturing costs primarily due to increased production at the Waldo, Arkansas sawmill
• Log costs increased primarily due to higher indexed pricing in Idaho

Real Estate

First Quarter 2025 Highlights

• Real Estate Adjusted EBITDDA increased $3.3 million from Q4 2024
• Sold 7,043 acres of rural land at an average price of $3,303 per acre
• Sold 11 residential lots at an average price of $112,745 per lot

For the full first quarter results, click here.

About PotlatchDeltic

PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) with ownership of 2.1 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program. PotlatchDeltic, a leader in sustainable forest management, is committed to corporate responsibility. More information can be found at www.potlatchdeltic.com.

Contact:

Wayne Wasechek – Investor Contact – (509) 835-1521

Source: PotlatchDeltic Corporation