Financial Performance - Total Adjusted EBITDA for 2019 was $179 million, the 3rd highest since becoming a REIT in 2006 [4] - Cash Available for Distribution (CAD) was $82 million [8] - $133 million was returned to shareholders through dividends and share repurchases [9] - Real Estate segment's EBITDA was $63 million in 2019 [12, 51] Segment Results - Timberlands Adjusted EBITDA was $134 million with 5.6 million tons harvested [12] - Wood Products Adjusted EBITDA was $13 million with 1.07 BBF lumber shipped [12] - Real Estate sold 24,000 rural acres, 148 residential lots, and 38 commercial acres [12] - Northern Timberlands Adjusted EBITDA in Q4 2019 was $20.6 million, compared to $24.4 million in Q3 2019 [27, 30] - Southern Timberlands Adjusted EBITDA in Q4 2019 was $17.4 million, compared to $18.6 million in Q3 2019 [35, 38] Capital Structure - $190 million of debt was refinanced, lowering the weighted average interest rate by 80 bps [13] - Net debt was reduced by $35 million [13] - The company had $460 million of liquidity at year-end [13] - Net debt to enterprise value was 18.8% [66]

Company Strategy & Fundamentals - PotlatchDeltic has the highest direct leverage to lumber prices among timber REITs[4] - The company's strategy leverages favorable fundamentals in US housing, including housing starts, building permits, and existing home sales[4] - Timberlands provide stability, capturing incremental land value and offering working forest benefits[4] Timberlands Segment - PotlatchDeltic owns 1.9 million acres of high-quality timberlands[6,7] - The company plants approximately 25 million seedlings every year, managing timberlands on a long-term sustainable basis[7] - The company has 86 million tons of merchantable timber inventory, with 64% being sawlogs[11,12] - In Idaho, sawlogs represent 90% of the harvest volume, and about 70% of sawlog prices are indexed to lumber prices[16] Wood Products Segment - PotlatchDeltic ranks as a top-10 lumber producer in the U S with 1 2 billion board feet of capacity[6,20] - Lumber shipments have increased by 60% in six years due to high-return capital projects and acquisitions[20] Real Estate Segment - The company has identified approximately 210,000 rural acres for sale at a premium to timberland value[23] - The company owns a 4,800-acre master-plan community in Little Rock, Arkansas, with approximately 65% of residential lots sold and 54% of commercial acres sold[23] Capital Allocation - Returning cash to shareholders through a sustainable and growing dividend is a key capital allocation strategy[25] - The company repurchased $25 million of shares in the first half of 2019 at $37 per share[28] - The dividend per share has increased by 29% since 2012, reaching $1.60 in 2019[27]

Financial Performance - Total Adjusted EBITDA for Q1 2020 was $47.6 million[16], compared to $46.6 million in Q4 2019[16], reflecting seasonally lower harvest volumes and real estate sales, but higher lumber prices and shipments[14] - Cash Available for Distribution (CAD) for the trailing twelve months ended March 31, 2020, was $105 million[8] - The company returned $39 million to shareholders in Q1 2020, including $27 million in dividends (5.1% yield) and $12 million in share repurchases[13] Segment Results - Timberlands Adjusted EBITDA for Q1 2020 was $35 million[12], 30% higher than Q1 2019[18], with 1.5 million tons harvested[12] - Wood Products Adjusted EBITDA for Q1 2020 was $13.2 million[48], with lumber shipments of 283 MMBF[12] and an average lumber price of $396 per MBF[43] - Real Estate Adjusted EBITDA for Q1 2020 was $7.3 million[58], with 4,439 non-strategic acres sold[12] Liquidity and Capital Structure - The company had $460 million of liquidity as of March 31, 2020[13] - The company plans to refinance $46 million of debt maturing in December 2020 and has locked interest rates on $654 million of refinances planned through January 2029[13] - A $101 million pension obligation was annuitized in Q1 2020[13] Outlook - The company anticipates lumber shipments between 230 and 240 MMBF for Q2 2020[69] - The company expects to sell approximately 5,500 rural acres and 15 development lots in Q2 2020[69]

Financial Performance - Total Adjusted EBITDA for Q2 2020 was $353 million, a decrease of $123 million from Q1 2020[13, 16] - Cash Available for Distribution (CAD) for the trailing twelve months ended June 30, 2020, was $103 million[8] - The company returned $69 million to shareholders YTD 2020 through dividends and share repurchases[9] Segment Results - Timberlands Adjusted EBITDA was $256 million, with 13 million tons harvested[11] - Wood Products Adjusted EBITDA was $109 million, with 249 MMBF lumber shipped[11] - Real Estate Adjusted EBITDA was $93 million, with 5K rural acres and 17 residential lots sold[11] Timberlands - Northern Region - Northern Timberlands Adjusted EBITDA was $127 million in Q2 2020, down from $199 million in Q1 2020[24, 27] - Northern sawlog harvest volume decreased to 303 thousand tons in Q2 2020 from 434 thousand tons in Q1 2020[27] - Northern sawlog price increased to $101 per ton in Q2 2020 from $95 per ton in Q1 2020[27] Timberlands - Southern Region - Southern Timberlands Adjusted EBITDA was $129 million in Q2 2020, down from $151 million in Q1 2020[31, 35] - Southern sawlog harvest volume decreased to 491 thousand tons in Q2 2020 from 548 thousand tons in Q1 2020[30, 35] - Southern sawlog price decreased to $43 per ton in Q2 2020 from $44 per ton in Q1 2020[30, 35] Wood Products - Wood Products Adjusted EBITDA was $109 million in Q2 2020, down from $132 million in Q1 2020[11, 46] - Lumber shipment volume decreased to 249 MMBF in Q2 2020 from 283 MMBF in Q1 2020[11, 42, 46] - Average lumber price increased to $412 per MBF in Q2 2020 from $396 per MBF in Q1 2020, a 4% increase[16, 42, 46] Real Estate - Real Estate Adjusted EBITDA was $93 million in Q2 2020, up from $73 million in Q1 2020[11, 59] - The company sold 5537 rural acres at an average price of $1784 per acre in Q2 2020[16, 54, 59] - The company sold 17 residential lots at an average price of $97059 per lot in Q2 2020[11, 58, 59] - The company announced the sale of approximately 72000 acres in Minnesota for ~$48 million, expected to close in Q4 2020[12, 47]

Financial Highlights - Total Adjusted EBITDDA reached $1354 million, reflecting historic lumber prices and record quarterly harvest volume[13] - Cash Available for Distribution (CAD) was $174 million for the trailing twelve months ended September 30, 2020[7] - $96 million was returned to shareholders YTD 2020[9] - Liquidity stood at $528 million as of September 30, 2020[12] Segment Performance - Timberlands Adjusted EBITDDA was $597 million, driven by 17 million tons harvested[11] - Wood Products Adjusted EBITDDA was $817 million, with 291 MMBF lumber shipped[11] - Real Estate Adjusted EBITDDA was $134 million, including the sale of 11K rural acres and 26 residential lots[11] Timberlands - Northern Region - Northern Timberlands Adjusted EBITDDA increased to $428 million in Q3 2020[25] - Northern sawlog harvest volume increased to 555 thousand tons[23, 26] - Northern sawlog price increased to $131 per ton[23, 26] Timberlands - Southern Region - Southern sawlog harvest volume increased to 578 thousand tons[30, 35] - Southern pulpwood harvest volume increased to 463 thousand tons[34, 35] - Southern sawlog price increased to $44 per ton[30, 35] Wood Products - Average lumber price was $637 per MBF in Q3 2020, a 55% increase from Q2 2020[40] - Lumber shipments increased 17% to 291 MMBF in Q3 2020[40, 42] Real Estate - 11,048 rural acres were sold at an average price of $1,202 per acre[16, 51, 53] - 26 residential lots were sold at an average price of $83,000 per lot[16, 51, 58]

Company Overview and Growth - CatchMark seeks consistent and growing per share cash flow from disciplined acquisitions and superior management of prime timberlands in high-demand U S mill markets[7] - From IPO in December 2013 through December 31, 2020, CatchMark's revenues had a compound annual growth rate of 18%[19] - Adjusted EBITDA grew at a compound annual growth rate of 47% from IPO in December 2013 through December 31, 2020[19] - Annual harvest increased by 152% to 23 million tons from IPO in December 2013 through December 31, 2020[19] Timberland Portfolio and Management - As of June 30, 2021, CatchMark controlled 1469900 acres of timberland, including 390400 wholly-owned acres and 1079500 joint venture acres in Texas[16,18,19] - Since the 2013 IPO, CatchMark acquired 266900 fee acres for $6383 million[66] - Harvest productivity grew from 41 tons/acre in 2014 to 55 tons/acre in 2020 in U S South timberlands[27] - 89% of CatchMark's timberlands are located in two of the top five markets in the U S South[27,88] Financial Strategy and Capital Allocation - CatchMark aims to lower overall leverage in the near-term and maintain balance sheet flexibility for opportunistic investments[127] - 21% of 2020 total harvest volume came from supply agreements with International Paper and WestRock[27,123] - Triple T joint venture recapitalization began with an agreement to sell 301000 acres for approximately $498 million in cash, or $1656 per acre in July 2021[147,161]

Toronto, Ontario--(Newsfile Corp. - July 10, 2025) - Appia Rare Earths & Uranium Corp. (CSE: API) (OTCQB: APAAF) (FSE: A0I0) (MUN: A0I0) (BER: A0I0) (the "Company" or "Appia") announced today that, further to its press release dated June 12, 2024, Appia has earned a further 5.89% legal and beneficial ownership interest in Appia Brasil Rare Earths Mineracao Ltda (the "Appia Brasil") the Brazilian company that holds the PCH Project (the "Property") located in the Tocantins Structural Province of the Brasília ...

Industry Overview - The Zacks Building Products – Wood industry is currently facing challenges such as rising construction costs, potential housing project delays, and affordability concerns for consumers [1] - Spending on home repair and remodeling has decreased from pandemic highs due to elevated mortgage rates impacting consumer budgets [1][2] - There is a strong need for investments in critical replacements and modernization of aging housing stock, alongside increased funding for infrastructure and carbon/ESG-related projects [2][6] Trends Impacting the Industry - The U.S. housing market is constrained by high interest rates and low consumer confidence, affecting demand for lumber and remodeling [4] - The reimplementation of tariffs on Canadian softwood lumber could lead to supply shortages and increased material costs, as Canada supplies about 30% of U.S. softwood lumber [4] - Volatility in lumber prices remains a significant concern, impacting inventory costs and profit margins [5] Company Strategies - Companies are focusing on acquisitions, product innovation, and efficient cost-reduction strategies to navigate current challenges [7][8] - Operational excellence is being emphasized, including improvements in merchandising, harvest, and transportation efficiencies [8] Industry Performance - The Zacks Building Products – Wood industry has outperformed the broader Zacks Construction sector and the S&P 500 over the past year, gaining 21.6% compared to the sector's 8.8% and the S&P 500's 12.3% [13] - The industry currently has a Zacks Industry Rank of 155, placing it in the bottom 37% of over 250 Zacks industries, indicating dull near-term prospects [9][10] Earnings Outlook - Analysts have shown decreasing confidence in the industry's earnings growth potential, with aggregate earnings estimates for 2025 declining from $2.22 to $2.11 per share [11] - Despite the bleak near-term outlook, some companies are highlighted for their potential to capitalize on fundamental strengths [12] Notable Companies - **Worthington Enterprises, Inc. (WOR)**: Gained 48.4% over the past year, with an upward estimate revision for fiscal 2026 earnings to $3.65 from $3.14 per share [22] - **PotlatchDeltic Corporation (PCH)**: Gained 5% over the past year, with an upward estimate revision for 2025 earnings to 88 cents from 83 cents per share [26] - **Trex Company, Inc. (TREX)**: Experienced a loss of 20.9% over the past year, but has seen an upward estimate revision for 2025 earnings to $2.21 from $2.16 per share [30]

Company Performance - Potlatch (PCH) has shown a year-to-date performance increase of approximately 3.7%, outperforming the average gain of 2.4% in the Construction sector [4] - The Zacks Consensus Estimate for PCH's full-year earnings has increased by 10.1% over the past quarter, indicating improved analyst sentiment and a stronger earnings outlook [3] Industry Comparison - Potlatch belongs to the Building Products - Wood industry, which has seen an overall gain of about 10.7% year-to-date, suggesting that PCH is slightly underperforming its industry group [6] - In contrast, the Building Products - Home Builders industry, which includes Taylor Wimpey PLC Unsponsored ADR, has experienced a decline of 7.9% since the beginning of the year [7] Zacks Rank - Potlatch currently holds a Zacks Rank of 1 (Strong Buy), reflecting its strong potential to outperform the market in the near term [3] - Taylor Wimpey PLC Unsponsored ADR has a Zacks Rank of 2 (Buy), with a consensus EPS estimate increase of 1.1% over the past three months [5]

Summary of PotlatchDeltic (PCH) 2025 Conference Call Company Overview - **Company**: PotlatchDeltic (PCH) - **Date**: June 04, 2025 - **Focus**: Timberland and real estate operations Key Points Industry Dynamics - **Demand and Supply**: An increase in demand or a reduction in supply, particularly from Canada, is expected to create price tension in the timber market. The lack of expansion among competitors is viewed positively for future pricing [1] - **M&A Activity**: The timberland M&A market has been muted, but high-quality transactions are achieving strong pricing. There is a disconnect between public market perceptions and private market valuations of timber [3][4] - **Timberland Valuation**: Strong pricing has been observed for timberland values, with the company focusing on acquisitions that exceed their cost of capital [5][6] Financial Strategies - **Capital Allocation**: The company has prioritized share repurchases over aggressive timberland acquisitions, indicating a strategic approach to capital allocation [5][9] - **Recent Transactions**: The company sold 34,000 acres for over $58 million, demonstrating the ability to capitalize on market disconnects [6][7] Natural Climate Solutions - **Solar Opportunities**: The company has 38,000 acres under solar option contracts, with a net present value of approximately $475 million. This represents a significant opportunity compared to traditional timberland operations [10][11] - **Growth Potential**: The company anticipates increasing solar option acreage to over 45,000 acres, with potential for up to 75,000 acres suitable for solar development [12] Regulatory Challenges - **Project Delays**: The primary challenge for solar project development is navigating regulatory processes and obtaining interconnection agreements with utilities [16] Lithium Extraction - **Lithium Deposits**: The company is exploring lithium extraction in Arkansas, specifically in the Smackover formation, which is known for its significant lithium deposits. The extraction will be conducted by independent parties, allowing the company to earn royalties while maintaining timberland management [17][18] - **Lease Agreements**: The company has signed its first lease agreement for lithium extraction and expects to sign additional leases in the future [19] Real Estate Market - **Chenal Valley Development**: The real estate segment in Chenal Valley is performing comparably to previous years, with healthy demand for lots. The market is experiencing a bifurcation, with higher-end lots moving faster than lower-end lots [29][30] - **Rural Land Demand**: There is a notable increase in demand for rural land, driven by various factors including investment diversification and recreational use. The company expects to exceed its guidance for rural land sales due to strong pricing [31][32] Additional Insights - **Market Trends**: The demand for energy, particularly solar, is expected to grow, aligning with national trends towards energy independence [14] - **Regulatory Environment**: The company is closely monitoring the regulatory landscape regarding renewable energy incentives, which could impact future projects [12][13] This summary encapsulates the key discussions and insights from the PotlatchDeltic conference call, highlighting the company's strategic focus on timberland management, renewable energy opportunities, and real estate development.