CatchMark Timber Trust boosts 2014 full year earnings guidance; adjusted EBITDA forecast up 35%

市場: 标准木材
发表了 十月 3, 2014
Oct 04, 2014. /Lesprom Network/. CatchMark Timber Trust, Inc. announced new earnings guidance for full year 2014, increasing its Adjusted EBITDA forecast by 35% to between $22 million and $23 million and projecting a net loss between $0.1 million and $1.1 million, excluding any one-time expenses related to future acquisitions or financing transactions, as the company said in the press release received by Lesprom Network.

The company's new earnings forecast reflects increased production capacity from timberlands purchased this year, including the just-completed Oglethorpe and Satilla River acquisitions; increased production targets for previously-owned timberlands based on market demand; increased lands sales; and the 3Q write-off of deferred financing costs associated with the $34 million repayment of its term loan facility.

Jerry Barag, CatchMark President and CEO, said: "We now expect our 2014 harvest volume to total approximately 1.4 to 1.45 million tons, up from 1.0 to 1.1 million tons forecast at the time of our initial listed public offering late last year.We estimate that our harvest mix for the full year will improve to approximately 30% to 35% sawtimber and 65% to 70% pulpwood.The closing of our previously announced $9 million land sale expected in the 4Q coupled with some additional potential land dispositions are anticipated to register at the higher end of earlier guidance, or close to $10 million.

"These forecasted results underscore the successful implementation of our strategy to assemble quality timberlands which exhibit strong productivity characteristics and improve our product mix to take advantage of current and projected market conditions.We believe this execution will deliver long-term, durable earnings and provide for dividend growth," Barag said.

CatchMark Timber Trust, Inc. is a self-administered and self-managed publicly traded REIT that began operations in 2007 and owns interests in approximately 375,800 acres of timberland located in Alabama, Florida, Georgia and Texas.

+7 499 6535608
Ordzhonikidze, 11 109028 莫斯科, 俄國


主題: 所得税, 财务

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