PotlatchDeltic Corporation reported net income of $187.9 million, or $2.77 per diluted share, on revenues of $447.5 million for the quarter ended June 30, 2021.
Net income was $2.6 million, or $0.04 per diluted share, on revenues of $181.6 million for the quarter ended June 30, 2020.
“Lumber prices continued their historic run in the 2Q, driving another quarter of record financial performance,” said Eric Cremers, President and CEO. “Our employees did a good job navigating operational challenges, including a fire at our Ola, Arkansas sawmill. While lumber prices have recently retreated from historic highs, overall fundamentals that drive our business remain favorable. We are very well positioned to continue growing shareholder value and execute on our disciplined capital allocation strategy, including paying a meaningful special dividend in the 4Q 2021,” stated Mr. Cremers.
PotlatchDeltic is a leading Real Estate Investment Trust (REIT) that owns approximately 1.8 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 residential and commercial real estate development business and a rural timberland sales program.
