Tree Frog Forestry News

PotlatchDeltic lumber profits plummet 66 percent, still beats expectations

By Robert Dalheim
Woodworking Network
November 7, 2019
Category: Business & Politics
Region: United States, US West

SPOKANE, Washington – For the period ended Sept. 30, PotlatchDeltic – which formed after a merger early last year – reported net income of $20.6 million, or 30 cents per share, down 66 percent compared to $60.4 million, or 93 cents per share, in the same period a year ago. Revenue for the three-month period fell nearly 21.7 percent to $226.3 million compared to $289.2 million in the same quarter of 2018. The company said volatile lumber prices were to blame. …Of the company’s three divisions – real estate, timberlands, and wood products – wood products suffered the heaviest decline of 87.3 percent from 2018.

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