PotlatchDeltic Corporation reported net income of $1.8 million, or $0.03 per diluted share, on revenues of $217.3 million for the quarter ended December 31, 2018. Net income was $11.6 million, or $0.28 per diluted share, on revenues of $175.2 million in the quarter ended December 31, 2017.
Net income for the full year 2018 was $122.9 million, or $1.99 per diluted share, on revenues of $974.6 million. Net income was $86.5 million, or $2.10 per diluted share for the full year 2017.
“2018 was a very successful year by every measure,” said Mike Covey, chairman and CEO. “We grew meaningfully by merging with Deltic Timber Corporation early in the year, generated $297 million of Adjusted EBITDDA and returned $147 million of cash to shareholders. These accomplishments are a tribute to the hard work and dedication of our employees,” 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.
