Earnings release
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1 Exhibit 99.1 News Release For immediate release: Contact: Investors Media Wayne Wasechek Anna Torma 509.835.1521 509.835.1558 PotlatchDeltic Corporation Reports Second Quarter 2025 Results SPOKANE, Wash., July 28, 2025 (BUSINESS WIRE) – PotlatchDeltic Corporation (Nasdaq: PCH) today reported net income of $7.4 million, or $0.09 per diluted share, on revenues of $275.0 million for the quarter ended June 30, 2025. Net income was $13.7 million, or $0.17 per diluted share, on revenues of $320.7 million for the quarter ended June 30, 2024. Second Quarter 2025 Highlights • Generated Total Adjusted EBITDDA of $52.0 million and Total Adjusted EBITDDA margin of 18.9% • Repurchased 1,418,800 shares for $55.9 million, or $39 per share • Maintained strong liquidity of $395 million as of June 30, 2025 "Our overall financial results were solid in the second quarter, even amid ongoing economic and trade policy uncertainty,” said Eric Cremers, President and Chief Executive Officer. “This quarter our Timberlands and Real Estate businesses performed well, while our Wood Products segment continued to be impacted by soft demand across lumber markets. We remained focused on our disciplined and opportunistic capital allocation strategy during the quarter, returning meaningful capital to shareholders through the repurchase of $56 million of our common stock, in addition to paying our regular quarterly dividend. Looking ahead, we remain confident in the long-term fundamentals that support demand for our products. With a strong balance sheet, disciplined operations, and a prudent approach to capital deployment, we believe we are well-positioned to deliver long-term value to our shareholders.”
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2 Financial Highlights ($ in millions, except per share data) Q2 2025 Q1 2025 Q2 2024 Revenues $ 275.0 $ 268.3 $ 320.7 Net income $ 7.4 $ 25.8 $ 13.7 Weighted-average shares outstanding, diluted (in thousands) 78,441 79,173 79,741 Net income per diluted share $ 0.09 $ 0.33 $ 0.17 Adjusted Net Income $ 7.4 $ 26.2 $ 13.7 Adjusted Net Income Per Diluted Share $ 0.09 $ 0.33 $ 0.17 Total Adjusted EBITDDA $ 52.0 $ 63.4 $ 103.2 Total Adjusted EBITDDA Margin 18.9% 23.6% 32.2% Dividends per share $ 0.45 $ 0.45 $ 0.45 Net cash from operations $ 41.0 $ 49.1 $ 100.6 Cash and cash equivalents $ 95.3 $ 147.5 $ 199.7 1 Adjusted Net Income, Adjusted Net Income Per Diluted Share, Total Adjusted EBITDDA and Total Adjusted EBITDDA Margin are non-GAAP measures. Refer to "Non-GAAP Measures" and Non-GAAP Reconciliations below for more information and reconciliations to GAAP, where applicable. Business Performance: Q2 2025 vs. Q1 2025 Timberlands Second Quarter 2025 Highlights • Timberlands Adjusted EBITDDA decreased $2.8 million from Q1 2025 • Northern sawlog prices increased primarily due to higher cedar prices and seasonally lighter logs • Southern harvest volumes decreased primarily due to lower stumpage sales • Forest management costs increased due to seasonally higher activity ($ in millions) Q2 2025 Q1 2025 $ Change Timberlands Revenues $ 101.7 $ 102.5 $ (0.8) Timberlands Adjusted EBITDDA $ 39.6 $ 42.4 $ (2.8) 1 Refer to Segment Information below for additional information. Wood Products Second Quarter 2025 Highlights • Wood Products Adjusted EBITDDA decreased $10.0 million from Q1 2025 • Average lumber price decreased 1% to $450 per thousand board feet (MBF) in Q2 2025 • Log costs increased primarily due to higher indexed pricing in Idaho • Lumber inventory charge was $3.0 million higher compared to Q1 2025 • Per-unit manufacturing cost unfavorably impacted by $2.8 million from St. Maries equipment upgrade and temporary third-party power supply issue at Waldo ($ in millions) Q2 2025 Q1 2025 $ Change Wood Products Revenues $ 171.8 $ 164.6 $ 7.2 Wood Products Adjusted EBITDDA $ 1.7 $ 11.7 $ (10.0) 1 Refer to Segment Information below for additional information. 1 1 1 1 1 1
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3 Real Estate Second Quarter 2025 Highlights • Real Estate Adjusted EBITDDA was flat compared to Q1 2025 • Sold 7,457 acres of rural land at an average price of $3,108 per acre • Sold 18 residential lots at an average price of $102,222 per lot ($ in millions) Q2 2025 Q1 2025 $ Change Real Estate Revenues $ 29.1 $ 27.6 $ 1.5 Real Estate Adjusted EBITDDA $ 22.7 $ 22.7 $ — 1 Refer to Segment Information below for additional information. Non-GAAP Measures This press release includes certain financial measures that are not in accordance with accounting principles generally accepted in the United States (GAAP). Management believes that these non-GAAP measures, when read in conjunction with our GAAP financial statements, provide useful information to investors and other interested parties as described below. The presentation of these non-GAAP financial measures should be considered only as supplemental to, are not intended to be considered in isolation or as a substitute for, or superior to, financial measures prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may not be the same as or comparable to other similarly titled non-GAAP measures presented by other companies due to potential inconsistencies in methods of calculation. Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Diluted Share are non-GAAP measures that represent GAAP net income (loss) and GAAP net income (loss) per diluted share before certain items, net of tax, that management believes impact the ability to compare the performance of our business, either period-over-period or with other businesses. Total Adjusted EBITDDA and Total Adjusted EBITDDA Margin are non-GAAP measures that remove the impact of specific items that management believes do not directly reflect the core business operations on an ongoing basis and can be used to evaluate the operational performance of assets under management. We define Total Adjusted EBITDDA Margin as Total Adjusted EBITDDA divided by Revenues. Reconciliations of Total Adjusted EBITDDA, Adjusted Net Income (Loss) and Adjusted Net Income (Loss) Per Diluted Share to their most comparable GAAP measures are set forth in the accompanying “Non-GAAP Reconciliations” at the end of this release. Conference Call Information A live conference call and webcast will be held Tuesday, July 29, 2025, at 9:00 a.m. Pacific Time (12:00 p.m. Eastern Time). Investors may access the webcast at www.potlatchdeltic.com by clicking on the Investors link or by conference call at 1-888- 510-2008 for U.S./Canada and 1-646-960-0306 for international callers. Participants will be asked to provide conference I.D. number 7281983. Supplemental materials that will be discussed during the call are available on the above website. A replay of the conference call will be available two hours following the call until August 5, 2025 by calling 1-800-770-2030 for U.S./Canada or 1-609-800-9909 for international callers. Callers must enter conference I.D. number 7281983 to access the replay. About PotlatchDeltic PotlatchDeltic Corporation (Nasdaq: PCH) is a leading Real Estate Investment Trust (REIT) with ownership of 2.1 million acres of timberlands in Alabama, Arkansas, Georgia, Idaho, Louisiana, Mississippi and South Carolina. Through its taxable REIT subsidiary, the company also operates six sawmills, an industrial-grade plywood mill, a residential and commercial real estate development business and a rural timberland sales program. PotlatchDeltic, a leader in sustainable forest management, is committed to corporate responsibility. More information can be found at www.potlatchdeltic.com. Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended, including without limitation, our expectations regarding the company’s revenues, costs, expenses and liquidity; disciplined and opportunistic capital allocation strategy; disciplined operations; demand for our products; positioning to deliver shareholder value; and similar matters. Words such as “long-term,” “looking ahead,” “remain,” and similar expressions are 1
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4 intended to identify such forward-looking statements. You should carefully read forward-looking statements, including statements that contain these words, because they discuss the future expectations or state other “forward-looking” information about PotlatchDeltic. A number of important factors could cause actual results or events to differ materially from those indicated by such forward-looking statements, many of which are beyond PotlatchDeltic’s control, such as changes in the U.S. housing market; changes in timberland values; changes in timber harvest levels on the company’s lands; changes in timber prices; changes in policy regarding governmental timber sales; availability of logging contractors and shipping capacity; changes in interest rates; credit availability and homebuyers’ ability to qualify for mortgages; availability of labor and developable land; changes in the level of construction and remodeling activity; changes in the U.S. and international economies and effects on our customers and suppliers, including the impact of tariffs on imports to the U.S. and potential retaliatory increases on exports from the U.S. and uncertainty regarding the timing and scope of such changes; duties and trade agreements involving wood products; currency fluctuation; changes in demand for our products and real estate; changes in production and production capacity in the forest products industry; competitive pricing pressures for our products; unanticipated manufacturing disruptions; disruptions or inefficiencies in our supply chain and/or operations; changes in general and industry-specific environmental laws and regulations; unforeseen environmental liabilities or expenditures; weather conditions; fires at our facilities and on our timberland and other catastrophic events; restrictions on harvesting due to fire danger; changes in raw material, fuel and other costs; transportation disruptions; share price; our ability to participate in the natural climate solutions and forest carbon sequestration markets, and the development of the market for those products; the successful execution of the company’s strategic plans and the other factors described in PotlatchDeltic’s Annual Report on Form 10-K and in the company’s other filings with the SEC. PotlatchDeltic assumes no obligation to update the information in this communication, except as otherwise required by law. Readers are cautioned not to place undue reliance on these forward-looking statements, all of which speak only as of the date hereof.
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5 PotlatchDeltic Corporation Condensed Consolidated Statements of Operations Unaudited Three Months Ended Six Months Ended (in thousands, except per share amounts) June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Revenues $ 274,985 $ 268,260 $ 320,671 $ 543,245 $ 548,798 Costs and expenses: Cost of goods sold 239,332 220,405 282,473 459,737 494,633 Selling, general and administrative expenses 21,807 19,855 20,752 41,662 41,479 Environmental charge — 490 — 490 — 261,139 240,750 303,225 501,889 536,112 Operating income 13,846 27,510 17,446 41,356 12,686 Interest expense, net (10,412) (1,492) (8,696) (11,904) (8,414) Non-operating pension and other postretirement employee benefits (351) (351) 201 (702) 402 Other 741 (206) (23) 535 (168) Income before income taxes 3,824 25,461 8,928 29,285 4,506 Income taxes 3,530 344 4,750 3,874 8,867 Net income $ 7,354 $ 25,805 $ 13,678 $ 33,159 $ 13,373 Net income per share: Basic $ 0.09 $ 0.33 $ 0.17 $ 0.42 $ 0.17 Diluted $ 0.09 $ 0.33 $ 0.17 $ 0.42 $ 0.17 Dividends per share $ 0.45 $ 0.45 $ 0.45 $ 0.90 $ 0.90 Weighted-average shares outstanding: Basic 78,280 79,000 79,627 78,643 79,656 Diluted 78,441 79,173 79,741 78,781 79,756
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6 PotlatchDeltic Corporation Condensed Consolidated Balance Sheets Unaudited (in thousands, except per share amounts) June 30, 2025 December 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 95,277 $ 151,551 Customer receivables, net 33,799 23,358 Inventories, net 87,037 82,926 Other current assets 42,741 41,295 Total current assets 258,854 299,130 Property, plant and equipment, net 396,167 408,913 Investment in real estate held for development and sale 53,642 50,809 Timber and timberlands, net 2,320,697 2,357,151 Intangible assets, net 12,971 13,861 Other long-term assets 142,372 175,579 Total assets $ 3,184,703 $ 3,305,443 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable and accrued liabilities $ 96,569 $ 95,628 Current portion of long-term debt 127,383 99,552 Current portion of pension and other postretirement employee benefits 5,098 5,098 Total current liabilities 229,050 200,278 Long-term debt 907,786 935,100 Pension and other postretirement employee benefits 75,328 76,272 Deferred tax liabilities, net 16,729 21,123 Other long-term obligations 33,883 35,000 Total liabilities 1,262,776 1,267,773 Commitments and contingencies Stockholders' equity: Common stock, $1 par value, 200,000 shares authorized, 77,286 and 78,684 shares issued and outstanding 77,286 78,684 Additional paid-in capital 2,321,235 2,315,176 Accumulated deficit (566,125) (470,331) Accumulated other comprehensive income 89,531 114,141 Total stockholders’ equity 1,921,927 2,037,670 Total liabilities and stockholders' equity $ 3,184,703 $ 3,305,443
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7 PotlatchDeltic Corporation Condensed Consolidated Statements of Cash Flows Unaudited Three Months Ended Six Months Ended (in thousands) June 30, 2025 March 31, 2025 June 30, 2024 June 30, 2025 June 30, 2024 CASH FLOWS FROM OPERATING ACTIVITIES Net income $ 7,354 $ 25,805 $ 13,678 $ 33,159 $ 13,373 Adjustments to reconcile net income to net cash from operating activities: Depreciation, depletion and amortization 26,751 25,786 29,674 52,537 60,476 Basis of real estate sold 11,481 9,867 56,525 21,348 60,617 Change in deferred taxes (3,531) (344) (4,694) (3,875) (8,839) Pension and other postretirement employee benefits 1,632 1,631 1,145 3,263 2,288 Equity-based compensation expense 3,195 2,759 2,962 5,954 5,522 Amortization related to redesignated forward-starting interest rate swaps 2,841 2,810 2,643 5,651 5,286 Interest received under swaps with other-than- insignificant financing element (6,950) (6,986) (7,509) (13,936) (14,967) Other, net (725) 1,888 (292) 1,163 26 Change in working capital and operating-related activities, net 4,751 (9,259) 9,256 (4,508) (3,996) Real estate development expenditures (2,778) (3,326) (1,587) (6,104) (2,722) Funding of pension and other postretirement employee benefits (3,022) (1,580) (1,221) (4,602) (2,135) Proceeds from insurance recoveries — — — — 1,680 Net cash from operating activities 40,999 49,051 100,580 90,050 116,609 CASH FLOWS FROM INVESTING ACTIVITIES Property, plant and equipment additions (3,636) (12,114) (21,608) (15,750) (26,603) Timberlands reforestation and roads (3,997) (7,339) (4,940) (11,336) (12,814) Acquisition of timber and timberlands (291) (83) (43) (374) (31,481) Interest received under swaps with other-than-insignificant financing element 6,544 6,579 6,986 13,123 13,924 Other, net 826 149 245 975 618 Net cash from investing activities (554) (12,808) (19,360) (13,362) (56,356) CASH FLOWS FROM FINANCING ACTIVITIES Distributions to common stockholders (34,778) (35,435) (35,677) (70,213) (71,456) Repurchase of common stock (56,108) (3,922) (23,905) (60,030) (23,905) Other, net (1,083) (1,043) (1,444) (2,126) (2,236) Net cash from financing activities (91,969) (40,400) (61,026) (132,369) (97,597) Change in cash, cash equivalents and restricted cash (51,524) (4,157) 20,194 (55,681) (37,344) Cash, cash equivalents and restricted cash, beginning 147,568 151,725 180,150 151,725 237,688 Cash, cash equivalents and restricted cash, ending $ 96,044 $ 147,568 $ 200,344 $ 96,044 $ 200,344 Includes $0.8 million, $0.1 million, and $0.7 at June 30, 2025, March 31, 2025, and June 30, 2024, respectively, that were or are intended to be reinvested in timber and timberlands and classified as restricted cash in Other current and long-term assets in the Condensed Consolidated Balance Sheets. 1 1
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8 PotlatchDeltic Corporation Segment Information Unaudited Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, (in thousands) 2025 2025 2024 2025 2024 Revenues Timberlands $ 101,664 $ 102,451 $ 98,802 $ 204,115 $ 191,752 Wood Products 171,819 164,645 153,579 336,464 302,177 Real Estate 29,096 27,591 95,732 56,687 106,839 302,579 294,687 348,113 597,266 600,768 Intersegment Timberlands revenues (27,594) (26,427) (27,442) (54,021) (51,970) Consolidated revenues $ 274,985 $ 268,260 $ 320,671 $ 543,245 $ 548,798 Adjusted EBITDDA Timberlands $ 39,566 $ 42,370 $ 34,124 $ 81,937 $ 68,872 Wood Products 1,723 11,640 (6,805) 13,363 (6,944) Real Estate 22,720 22,757 89,568 45,476 95,796 Corporate (13,164) (12,148) (11,756) (25,313) (24,421) Eliminations and adjustments 1,180 (1,252) (1,958) (71) (408) Total Adjusted EBITDDA 52,025 63,367 103,173 115,392 132,895 Interest expense, net (10,412) (1,492) (8,696) (11,904) (8,414) Depreciation, depletion and amortization (26,370) (25,404) (29,268) (51,774) (59,663) Basis of real estate sold (11,481) (9,867) (56,525) (21,348) (60,617) Environmental charge — (490) — (490) — Non-operating pension and other postretirement employee benefits (351) (351) 201 (702) 402 Gain (loss) on disposal of assets (328) (96) 66 (424) 71 Other 741 (206) (23) 535 (168) Income before income taxes $ 3,824 $ 25,461 $ 8,928 $ 29,285 $ 4,506 Depreciation, depletion and amortization Timberlands $ 15,499 $ 15,506 $ 16,790 $ 31,005 $ 34,415 Wood Products 10,495 9,553 12,227 20,048 24,743 Real Estate 159 141 136 300 274 Corporate 217 204 115 421 231 26,370 25,404 29,268 51,774 59,663 Bond discounts and deferred loan fees 381 382 406 763 813 Total depreciation, depletion and amortization $ 26,751 $ 25,786 $ 29,674 $ 52,537 $ 60,476 Basis of real estate sold Real Estate $ 11,486 $ 9,868 $ 56,528 $ 21,354 $ 60,622 Eliminations and adjustments (5) (1) (3) (6) (5) Total basis of real estate sold $ 11,481 $ 9,867 $ 56,525 $ 21,348 $ 60,617 Management uses Adjusted EBITDDA to evaluate company and segment performance. See the reconciliation of Total Adjusted EBITDDA in Non-GAAP Reconciliations. Bond discounts, deferred loan fees, non-cash amortization related to redesignated forward swaps, and interest income are included in interest expense, net in the Condensed Consolidated Statements of Operations. 1 2 2 1 2
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9 PotlatchDeltic Corporation Non-GAAP Reconciliations Unaudited Three Months Ended Six Months Ended June 30, March 31, June 30, June 30, June 30, (in thousands, except per share amounts) 2025 2025 2024 2025 2024 Total Adjusted EBITDDA Net income (GAAP) $ 7,354 $ 25,805 $ 13,678 $ 33,159 $ 13,373 Interest expense, net 10,412 1,492 8,696 11,904 8,414 Income taxes (3,530) (344) (4,750) (3,874) (8,867) Depreciation, depletion and amortization 26,370 25,404 29,268 51,774 59,663 Basis of real estate sold 11,481 9,867 56,525 21,348 60,617 Environmental charge — 490 — 490 — Non-operating pension and other postretirement employee benefits 351 351 (201) 702 (402) Loss (gain) on disposal of assets 328 96 (66) 424 (71) Other (741) 206 23 (535) 168 Total Adjusted EBITDDA $ 52,025 $ 63,367 $ 103,173 $ 115,392 $ 132,895 Adjusted Net Income Net income (GAAP) $ 7,354 $ 25,805 $ 13,678 $ 33,159 $ 13,373 Special items after tax: Environmental charge — 368 — 368 — Adjusted Net Income $ 7,354 $ 26,173 $ 13,678 $ 33,527 $ 13,373 Adjusted Net Income Per Diluted Share $ 0.09 $ 0.33 $ 0.17 $ 0.42 $ 0.17 See "Non-GAAP Measures" for further details on management's use of these measures. 1 1 1 1