PotlatchDeltic Corporation reported net income of $46.1 million, or $0.73 per diluted share, on revenues of $268.2 million for the quarter ended June 30, 2018. Consolidated adjusted EBITDDA was $94.2 million and Adjusted EBITDDA margin was 35.1% in the 2Q 2018, as the company said in the press release received by Lesprom Network.
"Our merger with Deltic Timber was perfectly timed as the combined set of assets benefitted from the historic run in lumber prices in the 2Q," said Mike Covey, chairman and CEO. "This was reflected by the significant increase in Adjusted EBITDDA for Wood Products and the total company. Lumber prices are pulling back from an all-time peak but are still robust. This is shaping up to be an extremely strong year for PotlatchDeltic by many measures," stated Mr. Covey.
PotlatchDeltic is a leading Real Estate Investment Trust (REIT) that owns nearly 2 million acres of timberlands in Alabama, Arkansas, Idaho, Louisiana, Minnesota and Mississippi.
