The following is a summary of the PotlatchDeltic Corporation (PCH) Q1 2024 Earnings Call Transcript:

Financial Performance:

• PotlatchDeltic Corporation reported total adjusted EBITDA of $30 million in Q1 2024, demonstrating strong operational performance despite outside challenges.

• The Timberland segment generated an adjusted EBITDA of $35 million with a harvest rate of 1.9 million tons.

• The Wood Products segment was able to break even during Q1, reflecting an improvement from the previous quarter's $6 million loss.

• The Real Estate segment delivered six million in adjusted EBITDA, bolstered by sales of residential lots and rural real estate.

• The administration costs were offset by the company's individual mills, contributing to a break-even EBITDA while operating at full capacity.

Business Progress:

• PotlatchDeltic's expansion and modernization project for their sawmill in Arkansas is nearing completion, expecting to increase annual capacity and reduce processing costs.

• Collaboration with solar developers ramped up, resulting in option contracts for solar land sales valued at nearly $200 million.

• Progress was noted towards a Southern timberland carbon credit initiative, anticipating over 500,000 carbon credits in the first year.

• Acquisition of 16,000 acres of high-quality timberlands in Arkansas, further expanding the company's portfolio.

• An increase in the number of property lots available for sale is anticipated in the latter half of 2024.

• The company foresees an improvement in lumber demand and prices due to increased mill capacity utilization.

More details: PotlatchDeltic Corp IR

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