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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

PotlatchDeltic reports dip in first quarter earnings

From staff reports

PotlatchDeltic Corp. reported a dip in first quarter income on Thursday.

The Spokane-based company reported net income of $14.6 million, or 29 cents per share. The results compared to net income of $16.9 million, or 41 cents per share, during the first quarter of 2017.

Potlatch completed its merger with Deltic Timber of Arkansas during the first quarter and employees are working to integrate operations, said Mike Covey, the chairman and CEO. The first quarter results include revenue from Deltic Timber from Feb. 21 through March 31.

Covey said lumber shipments and prices increased during the first quarter. Improving U.S. housing starts and strong repair and remodeling activity should continue to support strong fundamentals for the wood products industry, he said.