PotlatchDeltic Corporation (NASDAQ:PCH) Q1 2023 Results Conference Call April 25, 2023 12:00 PM ET Company Participants Wayne Wasechek - Interim VP and CFO Eric Cremers - President and CEO Conference Call Participants Anthony Pettinari - Citi Ketan Mamtora - BMO Capital Markets Kurt Yinger - D.A. Davidson Mark Weintraub - Seaport Research Partners Paul Quinn - RBC Capital Markets George Staphos - Bank of America Mike Roxland - Truist Securities Operator Good morning. My name is Lisa and I will be your confe ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Form 10-K Commission File Number 1-32729 POTLATCHDELTIC CORPORATION (Exact name of registrant as specified in its charter) | Delaware | 82-0156045 | | --- | --- | | (State or other jurisdiction of incorporation or organization) | (IRS Employer Identification No.) | | 601 West 1st Ave., Suite 1600 | | | Spokane, Washington | 99201 | | (Address of principal executive offices) | (Zip Code) | Registrant's telephone number, including area co ...

PotlatchDeltic Corporation (NASDAQ:PCH) Q4 2022 Earnings Conference Call January 31, 2023 12:00 PM ET Company Participants Jerry Richards - Vice President & Chief Financial Officer Eric Cremers - President & Chief Executive Officer Conference Call Participants Mark Weintraub - Seaport Global Paul Quinn - RBC Capital Markets George Staphos - Bank of America Mike Roxland - Truist Securities Operator Good morning. My name is Devon, and I will be your conference operator today. At this time, I would like to wel ...

Financial Performance - Total Adjusted EBITDDA for 2022 reached a record of $653 million, significantly exceeding the 2020 record [11] - Q4 2022 Total Adjusted EBITDDA was $52 million, reflecting declines in lumber and indexed sawlog prices, along with seasonally lower harvest volumes [17] - Cash Available for Distribution (CAD) in 2022 was $3071 million [12] - The company returned $263 million to shareholders in 2022, including $55 million in share repurchases [21] Segment Results - Timberlands Adjusted EBITDDA for Q4 2022 declined to $51 million due to lower indexed sawlog prices and seasonally lower harvest volumes [24] - Wood Products Adjusted EBITDDA decreased to $24 million in Q4 2022, largely due to lower lumber prices [30, 36] - Real Estate Adjusted EBITDDA declined to $72 million in Q4 2022 due to fewer acres and residential lots sold [40, 45] Capital Structure and Liquidity - Net debt to enterprise value is 164% [5] - The company has a strong liquidity position with $643 million available [12, 21] - The weighted average cost of debt is 24% [21] Outlook and Synergies - The company anticipates 2023 Total Adjusted EBITDDA to be significantly lower than 2022 due to higher interest rates and their expected impact on housing starts [51] - The company expects to achieve CAD synergies of $21 million from the CatchMark merger, compared to the initial target of $16 million [14]

PotlatchDeltic Corporation (NASDAQ:PCH) Q3 2022 Earnings Conference Call October 25, 2022 12:00 PM ET Company Participants Jerry Richards - Vice President & Chief Financial Officer Eric Cremers - President & Chief Executive Officer Conference Call Participants Mark Weintraub - Seaport Global Kurt Yinger - D.A. Davidson George Staphos - Bank of America Ketan Mamtora - BMO Capital Markets Mike Roxland - Truist Securities Paul Quinn - RBC Capital Markets Operator Good morning. My name is Lisa and I will be yo ...

Q3 2022 EARNINGS October 25, 2022 FORWARD-LOOKING STATEMENTS & NON-GAAP MEASURES FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended, including without limitation, our expectations regarding the company's revenues, costs and expenses; expected liquidity; the U.S. economic condition; the success of the company's business strategies; strategic and financial opportunities and synergies res ...

Washington, D.C. 20549 Form 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2022 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number 1-32729 PotlatchDeltic Corporation UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Exact name of registrant as specified in its charter) Delaware 82-0156045 (State or other jurisdi ...

Financial Data and Key Metrics Changes - The company reported total adjusted EBITDA of $175 million for Q2 2022, marking the second highest EBITDA for a second quarter in its history, although it was lower than the $246 million generated in Q1 2022 [5][21] - The decline in EBITDA was primarily attributed to lower lumber prices and harvest volumes [21] - The company had $511 million in cash and total liquidity of $810 million at the end of Q2 2022 [18][28] Business Line Data and Key Metrics Changes - Wood Products segment generated adjusted EBITDA of $107 million in Q2 2022, down from $150 million in Q1 2022, with average lumber price realizations decreasing by 20% [6][24] - Timberland segment's adjusted EBITDA decreased from $76 million in Q1 to $58 million in Q2, with sawlog harvest volumes affected by weather conditions [9][22] - Real Estate segment's adjusted EBITDA was $22 million in Q2, down from $30 million in Q1, influenced by the timing and mix of transactions [10][27] Market Data and Key Metrics Changes - Lumber prices moderated during Q2, with the random length framing lumber composite price decreasing by 33% compared to Q1 [6][24] - The company shipped 254 million board feet of lumber in Q2, an increase of 21 million board feet from Q1 [7][26] - The housing shortage in the U.S. is estimated to be around 4 million units, supporting long-term demand for lumber [11] Company Strategy and Development Direction - The company is focused on modernizing and expanding its Waldo, Arkansas sawmill with a $131 million investment, expected to increase annual capacity by 85 million board feet [14] - The CatchMark merger is anticipated to close late in Q3 2022, which is expected to provide strategic and financial benefits [15][16] - The company remains committed to sustainable dividend growth and plans to review its regular dividend in Q4 2022 [17] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that while the long-term housing fundamentals remain favorable, recent factors such as higher mortgage rates and declining consumer confidence have moderated housing starts [12] - The company expects a modest decline in housing starts to around 1.5 million units in the near term, with a potential recovery by 2024 [70][71] - Management remains optimistic about lumber demand in the repair and remodel markets, supported by strong consumer balance sheets and job market conditions [13] Other Important Information - The company repurchased $5 million of its shares at approximately $44 per share under its share repurchase plan [18] - Capital expenditures for Q2 were $31 million, with plans for total capital expenditures in 2022 estimated between $85 to $90 million [28][32] - The company published its third Annual ESG report in May and is committed to enhancing its ESG initiatives [19] Q&A Session Summary Question: What is the expected decline in Northern sawlog prices for Q3? - Management indicated a potential decline of approximately 35% to 40% in indexed sawlog prices for Q3 due to the drop in lumber prices [39] Question: Can you provide details on the three bolt-on transactions? - The company is acquiring three bolt-on deals totaling about 46,000 acres in Mississippi and Arkansas for approximately $101 million, expected to generate about $7 million of incremental EBITDA [40] Question: What are the expectations for Southern harvest levels next year? - Management suggested that Southern harvest levels could exceed 6 million tons next year, especially with the CatchMark merger and the Ola mill coming back online [45] Question: How is the company addressing the impact of rising mortgage rates on demand? - Management noted that while there is a pullback in housing starts, demand remains solid in the home center channel, with order files stretching out a couple of weeks [48][73] Question: What is the outlook for the CatchMark merger? - The merger is on track to close late in Q3, with key milestones including finalizing the registration statement and conducting the shareholder vote [69] Question: How does the company plan to manage harvest volumes in a slowing housing market? - Management believes that production cuts will primarily occur in Canada and from lower imports, allowing Southern mills to maintain operations without significant harvest volume reductions [88]

Q2 2022 EARNINGS July 26, 2022 FORWARD-LOOKING STATEMENTS & NON-GAAP MEASURES FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended, including without limitation, our expectations regarding the company's revenues, costs and expenses; expected liquidity; the U.S. economic condition; the success of the company's business strategies; expectations about the Waldo, Arkansas sawmill expansion, ...

CatchMark Timber Trust, Inc. (CTT) Q1 2022 Earnings Conference Call May 6, 2022 10:00 AM ET Company Participants Ursula Godoy-Arbelaez - Senior Vice President and Chief Financial Officer Brian Davis - President and Chief Executive Officer Todd Reitz - Chief Resources Officer Conference Call Participants David Rodgers - Robert W. Baird & Co. Paul Quinn - RBC Capital Markets Anthony Pettinari - Citigroup Inc. Buck Horne - Raymond James & Associates, Inc. Operator Good morning, and welcome to the CatchMark Tim ...