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Potlatch Corp. earnings

Thu., July 24, 2014

Timber real estate investment trust

Stock symbol: PCH
Reporting period: 2Q
Earnings:

Profit of $16.3 million

40 cents per share

Versus 2Q 2013:

Profit of $19.2 million

47 cents per share

Revenue: $143.9 million
Analysis: Timber harvest volumes were lower in Idaho and Minnesota as a result of a late spring, and in the South, wet weather constrained harvests during the second quarter. But log prices were higher in both regions, and lumber shipments increased 13 percent during the quarter, company officials said. Potlatch also closed the second of two large land sales planned for 2014 – 9,400 acres of rural recreational property in Minnesota for $10 million. Chairman and CEO Mike Covey said the company is on track to increase its earnings for the third year in a row.

 

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