PCH - PotlatchDeltic Q4 profit trails consensus as all units soften from prior quarter

PotlatchDeltic ( NASDAQ: PCH ) posted worse-than-expected Q4 earnings Monday as EBITDDA from its Timberlands, Wood Products and Real Estate businesses all deteriorate during the quarter.

“While higher interest rates and their expected impact on housing starts are expected to create headwinds for our operating results in 2023, we continue to remain very bullish on long-term housing-related fundamentals that drive demand in our business," said President and CEO Eric Cremers.

During 2023, he expects the company to harvest 7.7M tons in its Timberlands segment, ship around 1.1B board feet in lumber in its Wood Products segment and sell about 18K rural acres and 150 residential lots in its Real Estate segment.

Q4 adjusted EPS of $0.12, missing the $0.17 consensus estimate, plunged from $0.74 in Q3 and from $0.59 in the year-ago quarter.

Total adjusted EBITDDA was $52.33M, down significantly from $101.09M in the prior quarter and from $75.72M a year before.

Operating income came in at $10.59M compared with $65.85M in Q3 and $50.56M in Q4 2021.

Conference call on Jan. 31 at 9:00 a.m. PT (12:00 p.m. ET).

Earlier, PotlatchDeltic Q4 Non-GAAP EPS misses, revenue beats.

For further details see: