Potlatchdeltic Corporation Stock Price, News & Analysis

PotlatchDeltic has detailed its electrician apprenticeship program at its St. Maries, Idaho facility. The program combines online/classroom coursework with practical experience, requiring apprentices to complete 8,000 hours of on-the-job work experience and enroll in accredited schools like North Idaho College or College of Southern Idaho.

The program spans four years with eight levels, requiring 144 hours of annual instruction (576 total hours). Training covers electrical codes, wiring, troubleshooting, motor installation, controls, and PLC classes. Currently, nine apprentices are at various stages of training, with eight apprentices achieving journeyman status over the past five years.

Electricians at the facility maintain important operations, ensuring compliance with OSHA safety protocols and managing essential systems like lock out/tag out. Their responsibilities include wiring installation, blueprint interpretation, system repairs, and providing input on electrical systems' longevity for capital planning.

PotlatchDeltic highlights its participation in Voluntary Protection Programs (VPP), demonstrating excellence in workplace safety across multiple facilities. The company's Gwinn, Michigan facility maintains Star Worksite status in MVPP since 2013, recognized for its safety vision and 90-day Safety Passport onboarding process. The Bemidji, Minnesota facility has held MNSTAR status since 2001, earning the Minnesota Safety Council's Governor's Safety Award in 2022. The St. Maries, Idaho lumber and plywood facilities have been VPP Star sites since 2000, featuring exemplary lockout/tagout procedures and employee-engaged safety processes.

PotlatchDeltic (Nasdaq: PCH) announced that its board of directors has declared a quarterly distribution of $0.45 per share on the company's common stock. The distribution will be paid on December 31, 2024, to stockholders of record as of December 16, 2024.

PotlatchDeltic is undertaking a significant tree planting initiative in Idaho, aiming to plant 6 million seedlings over 15,000 acres in six to eight weeks. This process involves an 18-month preparation period, including seedling growth in nurseries across the Pacific Northwest and southern British Columbia. Over 90% of the seedlings come from first-generation tree improvement programs, with more than 70% sourced from PotlatchDeltic's Cherrylane Seed Orchard. The planting season is compressed due to Idaho's climate and terrain, requiring precise timing to ensure seedling survival. Over 200 people are involved in the peak planting season, planting more than 280,000 seedlings daily. The initiative also aims to reduce costs and resource inputs by decreasing seedling stock size. Manual hand planting is necessary due to the terrain, with planters carrying up to 300 seedlings at a time. The effort relies on H-2B temporary labor visas, and the process is heavily regulated to ensure job availability for American citizens. This reforestation effort is critical for regulatory, environmental management, and wildlife benefits.

PotlatchDeltic has launched 'Salute', a Veterans Employee Resource Group in 2023, aimed at supporting veterans and military families within the company. The initiative, led by Executive Sponsor Robert Schwartz and Chair Daniel Cortes, serves 88 veteran team members who contribute valuable skills including teamwork, discipline, leadership, and adaptability. The PR also highlights the company's Gwinn sawmill facility, which operates on a former Strategic Air Command base (K.I. Sawyer Air Force Base) in Michigan's Upper Peninsula, representing a successful transition from military to industrial use after the base's closure in 1995.

PotlatchDeltic explains how sustainably managed forests help combat climate change through carbon management. Trees absorb CO2 and store carbon in their structure, while wood products act as 'carbon vaults'. Active forest management enhances carbon removal compared to unmanaged forests, with 68% of carbon in sawtimber transported to mills and 32% remaining on site. Wood products manufacturing stores about 55% of wood carbon, while residuals are used for additional products or biogenic energy. The cycle of planting, growth, and harvest creates cumulative carbon storage over time. U.S. forests, harvested wood products, and urban trees offset more than 11% of total GHG emissions annually.

PotlatchDeltic (PCH) reported Q3 2024 net income of $3.3 million, or $0.04 per diluted share, on revenues of $255.1 million, down from $23.7 million, or $0.29 per share, on revenues of $265.5 million in Q3 2023. The company generated Total Adjusted EBITDDA of $45.9 million with an 18% margin. Key highlights include completing the Waldo, Arkansas sawmill expansion project, expected to generate an additional $25 million in Adjusted EBITDDA annually under mid-cycle conditions. The company maintained strong liquidity of $460 million and repurchased 57,000 shares for $2.4 million.

PotlatchDeltic implemented the SLAM (Stop, Look, Assess, Manage) process across all wood products facilities in 2021 as a risk assessment program. SLAM reinforces individual accountability and hazard awareness before tasks. Safety Managers introduced SLAM, followed by online training for Team Members. The process involves completing SLAM cards for upset conditions, non-routine tasks, or tasks without a written job safety analysis.

In 2023, SLAM continued to enhance safety protocols. The program was further refined and integrated into daily operations for all Maintenance tasks at the Warren facility. SLAM Card usage across the division showed significant changes: 6,392 in 2021, 19,494 in 2022, and 12,306 in 2023. The decrease in 2023 reflects the integration of Job Hazard Analyses (JHA) and procedural enhancements, indicating a more systematic approach to risk assessment.

PotlatchDeltic (Nasdaq: PCH) has announced the release of its third quarter 2024 earnings on Monday, October 28, after market close. The company will host a live conference call and webcast on Tuesday, October 29 at 9:00 a.m. Pacific Time (12:00 p.m. Eastern Time) to discuss the results.

Investors can access the webcast at www.potlatchdeltic.com via the Investors link or join the conference call using the following numbers:

• U.S./Canada: 1-888-510-2008
• International: 1-646-960-0306

Participants will need to provide the conference I.D. number 7281983. A replay of the call will be available until November 5, 2024, by calling 1-800-770-2030 (U.S./Canada) or 1-609-800-9909 (international) using the same I.D. number.