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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.
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Q2 2025 earnings summary29 Jul, 2025

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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Frequently asked questions

PotlatchDeltic Corporation, a leading Real Estate Investment Trust (REIT), owns 1.8 million acres of timberlands in Alabama, Arkansas, Idaho, Louisana, Minnesota and Mississippi. 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 is committed to sustainability and to responsible governance.

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