Timber and Forest Products

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Weyerhaeuser(WY) - 2025 Q2 - Earnings Call Presentation
2025-07-25 14:00
Financial Performance - The company's total Adjusted EBITDA for Q2 2025 was $336 million, compared to $328 million in Q1 2025, representing an increase of $8 million[6] - Net earnings for Q2 2025 were $87 million, with a diluted EPS of $0.12, compared to net earnings of $83 million and a diluted EPS of $0.11 in Q1 2025[8] - Adjusted Funds Available for Distribution (Adjusted FAD) for Q2 2025 was $311 million, and year-to-date Adjusted FAD was $304 million[43] Segment Performance - Real Estate, Energy & Natural Resources Adjusted EBITDA increased from $82 million in Q1 2025 to $143 million in Q2 2025, an increase of $61 million[6] - Wood Products Adjusted EBITDA decreased from $161 million in Q1 2025 to $101 million in Q2 2025, a decrease of $60 million[6] - Timberlands Adjusted EBITDA decreased from $167 million in Q1 2025 to $152 million in Q2 2025, a decrease of $15 million[6] Timberlands Key Drivers - In the West, fee harvest volumes and sales volumes were comparable between Q1 and Q2 2025, while sales realizations were comparable overall with moderately higher realizations for Japan[16] - In the South, fee harvest volumes and sales realizations were slightly higher in Q2 2025 compared to Q1 2025[16] - In the North, fee harvest volumes were significantly lower in Q2 2025 due to spring break-up conditions, while sales realizations were slightly higher[16] Real Estate, Energy & Natural Resources - Real Estate Adjusted EBITDA increased from $59 million in Q1 2025 to $113 million in Q2 2025, while Energy & Natural Resources Adjusted EBITDA increased from $23 million to $30 million[26] Wood Products Key Drivers - Lumber sales realizations decreased by 2% in Q2 2025 compared to Q1 2025[36] - Oriented Strand Board (OSB) sales realizations decreased by 12% in Q2 2025 compared to Q1 2025[36] - Engineered Wood Products (EWP) sales volumes were higher for all products, but sales realizations were lower for most products[36] Outlook - The company expects Timberlands earnings to be approximately $10 million lower in Q3 2025 compared to Q2 2025[51] - Real Estate, Energy & Natural Resources earnings are expected to be approximately $60 million lower in Q3 2025 than in Q2 2025, with Adjusted EBITDA approximately $80 million lower[51] - Wood Products earnings are expected to be comparable to Q2 2025, excluding the effect of changes in average sales realizations for lumber and oriented strand board[51]
PotlatchDeltic(PCH) - 2020 Q2 - Earnings Call Presentation
2025-07-11 11:07
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]