Welcome to our dedicated page for Potlatchdeltic news (Ticker: PCH), a resource for investors and traders seeking the latest updates and insights on Potlatchdeltic stock.
PotlatchDeltic Corporation news covers the company's historical timberland REIT operations, common-stock distributions, financial results, financing activity, governance matters and completed corporate-status changes. The company owned 2.1 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina and, through a taxable REIT subsidiary, operated six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program.
Recurring updates include dividend declarations and tax treatment of distributions, earnings announcements, non-GAAP presentation materials, term-loan amendments, shareholder voting matters and merger-related corporate status following the completed merger into a Rayonier subsidiary.
PotlatchDeltic Corporation (NASDAQ: PCH) has finalized the sale of 72,440 acres of forestland in Minnesota to The Conservation Fund for nearly $48 million. This transaction aims to enhance conservation efforts and provide sustainable timber harvesting while preserving water quality and wildlife habitat. The acquired land spans 14 counties, with 31,600 acres included within the reservation boundaries of the Minnesota Ojibwe Tribe. This sale supports PotlatchDeltic's strategy to maximize shareholder value through rural land sales and continues its commitment to environmental stewardship.
PotlatchDeltic Corporation (NASDAQ: PCH) announced the appointment of Eric J. Cremers as president and CEO, effective January 1, 2021. Cremers, who has been with the company since 2007, previously served as president and COO. Michael J. Covey, the outgoing CEO, remains as executive chairperson. Cremers has extensive industry experience and was key in significant company transactions, including the spin-off of Clearwater Paper in 2008 and the merger with Deltic Timber in 2018. The transition aims to ensure leadership continuity and leverage Cremers' expertise to drive growth.
PotlatchDeltic Corporation (Nasdaq:PCH) reported a net income of $81.0 million, equating to $1.20 per diluted share, for Q3 2020 on revenues of $313.0 million, compared to a net income of $20.6 million on revenues of $226.3 million in Q3 2019. The company achieved record quarterly Total Adjusted EBITDDA of $135.4 million, a margin of 43%. Key highlights include increased harvest volumes and significant profit growth in both Timberlands and Wood Products segments, driven by historic lumber prices. Liquidity strengthened to $528 million.
PotlatchDeltic Corporation has lifted the campfire or open burning ban on its Idaho property, effective immediately. This decision follows a decrease in fire risk thanks to cooler temperatures. The company emphasizes the importance of responsible fire use in forest areas. PotlatchDeltic is recognized as a leading Real Estate Investment Trust (REIT) managing 1.8 million acres of timberland across several states, and it operates various facilities including sawmills and a plywood mill. The company's commitment to sustainability and responsible management practices is highlighted.
PotlatchDeltic Corporation (NASDAQ: PCH) is set to release its third quarter earnings on October 26th, after market close. A conference call led by CEO Michael J. Covey will take place on October 27th at 9:00 a.m. PT. Investors can access the call via webcast or conference line. The company, a leader in sustainable forest management, owns around 1.8 million acres of timberland and operates multiple sawmills and a real estate development business. For further information, visit www.potlatchdeltic.com.