Lumber prices, shipments drive Potlatch 2Q profit

High prices for lumber and record shipments helped Potlatch Corp. turn a profit during the second quarter.

On Tuesday, the Spokane-based company reported income of $24.3 million, or 59 cents per share, on revenues of $163.2 million for the quarter.

During the second quarter of 2016, Potlatch reported a net loss of $31.3 million, or 77 cents, per share. The 2016 quarterly income include a $36.7 million loss on the sale of central Idaho timber and timberlands.

Potlatch Chairman Mike Covey said the company’s wood products segment has shipped record volumes of lumber during three of the past four quarters. High lumber prices also lifted sawlog prices in Idaho, and prices for cedar logs remain at record levels, he said.