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PotlatchDeltic (PCH) investor relations material
PotlatchDeltic Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 net income was $7.4M ($0.09 per share) on $275M revenue, down from $13.7M ($0.17 per share) on $320.7M in Q2 2024, with Total Adjusted EBITDDA at $52M and an 18.9% margin.
Timberlands and Real Estate segments performed well, while Wood Products faced headwinds from lower lumber prices, one-time costs, and soft demand.
Cash Available for Distribution (CAD) for the trailing twelve months was $84.4M; annual dividend run rate is $139M with a 4.7% yield.
Maintained strong liquidity of $395M as of June 30, 2025, with net debt to enterprise value at 24.1%.
Share repurchases reached $60M YTD at $40/share, the largest volume since REIT conversion.
Financial highlights
Q2 2025 revenues were $275M (down from $320.7M in Q2 2024); net income was $7.4M (vs. $13.7M prior year); EPS $0.09 (vs. $0.17 prior year).
Total Adjusted EBITDDA was $52M, down $51.1M year-over-year and $11.4M sequentially.
Q2 2025 capital expenditures YTD were $33M, with $60M–$65M planned for the year.
Cash and cash equivalents at quarter-end were $95.3M, down from $151.6M at year-end 2024.
Dividend of $0.45 per share paid in Q2 2025.
Outlook and guidance
Q3 2025 Adjusted EBITDDA is expected to be significantly higher, led by Real Estate and Wood Products.
Q3 harvest guidance: 1.9–2.0M tons, 80% from the South; Q3 lumber shipments projected at 310–320M board feet.
Rural land sales guidance: 15,000 acres in Q3 at $3,100/acre; full-year guidance raised to 31,000 acres.
Development lot sales guidance: 50 lots in Q3 at $140,000/lot; 130 lots for FY 2025.
Capital expenditures for FY 2025 expected at $60M–$65M, excluding certain payments and acquisitions.
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