PCH - PotlatchDeltic starts year on strong note as Q1 EBITDDA more than triples

PotlachDeltic (NASDAQ:PCH) first-quarter earnings reflected a substantial boost in adjusted EBITDDA, driven by large increases in timberlands and wood products revenues amid higher commodity prices. Revenues of $411.4M topped the average analyst estimate of $382.28M and jumped from $248.4M in Q4 2021 and $354.2M in Q1 2021. Adjusted EBITDDA of $245.6M surged from $75.7M in Q4 2021 and $195.0M in the year-ago period. Woods products revenue of $295.75M in Q1 drifted higher from $174.16M in Q4 2021 and $269.30M in Q1 2021. Timberlands revenue was $123.66M in Q1, up from $86.78M in Q4 2021 and $111.92M in Q1 2021. Q1 operating income of $214.94M also soared from $50.56M in the previous quarter and $168.14M in Q1 of last year. Conference call on April 26 at 12:00 PM ET. In mid-March, PotlatchDeltic said it will transfer $70M in pension obligations to American General Life Insurance.

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PotlatchDeltic starts year on strong note as Q1 EBITDDA more than triples