Financial Performance - The company achieved a record annual Total Adjusted EBITDDA of $653 million, surpassing the 2020 record[10] - Cash Available for Distribution (CAD) was $84.4 million for the trailing twelve months ended June 30, 2025[7] - The company has a strong liquidity position with $395 million available[12] - Net debt to enterprise value is 24.1%[12] Segment Results - Total Adjusted EBITDDA for Q2 2025 was $52.0 million, a decrease of $11.4 million from Q1 2025[17, 18] - Timberlands Adjusted EBITDDA was $39.6 million in Q2 2025[12] - Wood Products Adjusted EBITDDA was $1.7 million in Q2 2025[12] - Real Estate Adjusted EBITDDA was $22.7 million in Q2 2025[12] Timberlands - Northern Timberlands sawlog price increased to $136 per ton in Q2 2025 from $124 per ton in Q1 2025[27] - Southern Timberlands sawlog harvest volume increased to 671 thousand tons in Q2 2025 from 654 thousand tons in Q1 2025[34] Wood Products - Lumber shipment volume increased to 303 MMBF in Q2 2025 from 290 MMBF in Q1 2025[12, 47] - Average lumber price decreased 1% to $450 per MBF in Q2 2025[42] Real Estate - 7,457 rural acres were sold in Q2 2025 at an average price of $3,108 per acre[12, 50] - 18 residential lots were sold in Q2 2025 at an average price of $102,222 per lot[12, 50]