- Capital expenditures were $10 million in Q2, with full-year guidance of $60 million to $65 million excluding timberland acquisitions.
- Lumber shipments set a new quarterly record at 303 million board feet, up from 290 million in Q1.
- PotlatchDeltic reported second quarter total adjusted EBITDDA of $52 million, down from $63 million in the first quarter.
- Real Estate segment delivered $23 million in adjusted EBITDDA, consistent with Q1, selling 7,500 acres at an average price of $3,100 per acre including conservation sales at premiums.
- The company repurchased $56 million of common stock in Q2, totaling $60 million in the first half of 2025, at an average price of $39-$40 per share.
- The Timberlands segment's adjusted EBITDDA decreased slightly from $42 million to $40 million due to seasonally lower harvest volumes and higher forest management costs.
- Wood Products segment earned $2 million in adjusted EBITDDA, down from $12 million in Q1, impacted by lower lumber prices, increased processing costs, and a $3 million inventory impairment charge.
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- Adjusted company FFO in Q2 was $0.16 per diluted common share or approximately $47 million.
- Net debt to adjusted EBITDA was 5.8x at quarter end, down 0.4 turns over the last 12 months.
- Portfolio occupancy increased to 94.1% in Q2, up from 93.3% in Q1.
- Repurchased approximately $28 million of floating rate trust preferred securities at a 5% discount to par, yielding approximately 6.6%.
- Same-store NOI growth was 4.7% in Q2 with same-store portfolio 98% leased at quarter end.
- Sold a property in Chillicothe, Ohio for approximately $40 million at a 4.3% cash capitalization rate.
- Adjusted EBITDA rose significantly to $147 million from $79 million in Q2 2024.
- Baseline EBITDA increased 12% year-over-year to $117 million in Q2 2025, with trailing 12-month baseline EBITDA at $425 million.
- GAAP EPS for Q2 2025 was a loss of $0.05 per share, improved from a loss of $0.43 per share in Q2 2024.
- Investment management fees grew 39% in Q2 to a record $36 million, with fee-bearing capital reaching $9.2 billion.
- Q2 asset sales generated $55 million in gains, contributing to $275 million cash proceeds year-to-date from noncore asset sales.
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