PotlatchDeltic Corporation reported net income of $60.4 million, or $0.93 per diluted share, on revenues of $289.2 million for the quarter ended September 30, 2018.
Consolidated Adjusted EBITDDA was $101.8 million in the 3Q 2018.
“All three of our business segments delivered strong results in the 3Q and the financial objectives of the Deltic merger have exceeded our expectations,” said Mike Covey, chairman and CEO. “In the 4Q we will pay a special distribution of $3.54 per share. Lumber market fundamentals remain strong despite the recent decline in lumber prices,” 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. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a medium density fiberboard plant, a residential and commercial real estate development business and a rural timberland sales program.
