PotlatchDeltic Corporation reported significant financial growth in its third quarter of 2025, with revenues reaching $314.2 million, a 23.1% increase from $255.1 million in the same period of 2024. For the first nine months of 2025, revenues totaled $857.4 million, up from $803.9 million year-over-year. The company's net income for the third quarter was $25.9 million, compared to $3.3 million in the prior year, resulting in a net income per share of $0.33, up from $0.04. The increase in revenue and profitability was attributed to higher lumber shipments, particularly from the Waldo, Arkansas facility, and notable rural real estate sales.
In terms of operational performance, PotlatchDeltic's cost of goods sold increased to $257.1 million in the third quarter, up from $227.6 million in 2024, primarily due to higher fiber and manufacturing costs associated with increased lumber production. The company also incurred $1.9 million in merger-related expenses linked to its pending merger with Rayonier Inc. Despite these costs, the operating income surged to $35.1 million from $7.2 million a year earlier, reflecting a strong operational performance.
The company has made strategic moves, including the acquisition of approximately 11,200 acres of mature timberland in Arkansas for $24.8 million. This acquisition is part of PotlatchDeltic's ongoing efforts to expand its timberland portfolio, which now encompasses 2.1 million acres across nine states. The company also reported a total harvest volume of 1.9 million tons in the third quarter, slightly lower than the previous year, with expectations to harvest between 1.7 to 1.8 million tons in the fourth quarter.
PotlatchDeltic's balance sheet showed total assets of $3.17 billion as of September 30, 2025, down from $3.31 billion at the end of 2024. The company’s long-term debt stood at $1.04 billion, with a current portion of $27.5 million due in February 2026. The company remains in compliance with all financial covenants and has a remaining authorization of $30 million for future stock repurchases under its ongoing buyback program.
Looking ahead, PotlatchDeltic anticipates continued growth driven by favorable market conditions in the lumber and real estate sectors, alongside the strategic benefits of its merger with Rayonier, expected to close in early 2026. The company is optimistic about its ability to capitalize on emerging opportunities in natural climate solutions and renewable energy projects, positioning itself for long-term success in a changing market landscape.
About POTLATCHDELTIC CORP
PotlatchDeltic is a timberland REIT managing 2.1 million acres across nine states, primarily in the U.S. South and Northwest. It owns and sustainably manages forests, operates six sawmills and a plywood mill, and engages in real estate development and land sales. The company leverages timber assets and wood products to serve the housing, construction, and real estate markets, emphasizing environmental stewardship and responsible resource use.
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