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Earnings Review and Free Research Report: Potlatch’s Earnings Surged 2.81%; Beat Estimates

Research Desk Line-up: Patrick Industries Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 1, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Potlatch Corp. (NASDAQ: PCH), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=PCH, following the Company's announcement of its financial results on October 23, 2017, for the third quarter fiscal 2017. The timberland owner and wood products Company's revenue increased 9.4% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Lumber, Wood Production industry. Pro-TD has currently selected Patrick Industries, Inc. (NASDAQ: PATK) for due-diligence and potential coverage as the Company reported on October 26, 2017, its financial results for Q3 2017 which ended on September 24, 2017. Register for a free membership today, and be among the early birds that get access to our report on Patrick Industries when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on PCH; also brushing on PATK. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=PCH

http://protraderdaily.com/optin/?symbol=PATK

Earnings Reviewed

For three months ended September 30, 2017, Potlatch's revenue increased 9.4% to $190.44 million from $174.03 million in Q3 FY16.

During Q3 FY17, the Company's gross profit increased 26.1% to $65.47 million from $51.90 million in the same period last year. For the reported quarter, the Company's gross margin increased 450 basis points to 34.3% of revenue from 29.8% of revenue in Q3 FY16.

For the reported quarter, Potlatch's selling, general, and administrative (SG&A) expenses increased 13.3% to $14.62 million from $12.90 million in Q3 FY16.

During Q3 FY17, Potlatch's operating income increased 12.3% to $43.79 million from $38.99 million in Q3 FY16. For the reported quarter, the Company's operating margin increased 50 basis points to 22.9% of revenue from 22.4% of revenue in Q3 FY16.

For the reported quarter, Potlatch's net income increased 21.8% to $33.70 million on a y-o-y basis from $27.65 million in Q3 FY16. During Q3 FY17, the Company's adjusted net income was $38.7 million. For the reported quarter, Potlatch's diluted EPS increased 20.5% to $0.82 on a y-o-y basis from $0.68 in the same period last year. During Q3 FY17, the Company's adjusted diluted EPS was $0.94. Adjusted diluted EPS surpassed analysts' expectations of $0.88.

Potlatch's Segment Details

Resource - During Q3 FY17, the Company's Resource segment's revenue increased 10.3% to $94.71 million from $85.82 million in the same period last year. For the reported quarter, the segment's earnings before taxes (EBT) increased 25.5% to $41.80 million from $33.30 million in Q3 FY16.

Wood Products - During Q3 FY17, the Wood Products segment's revenue increased 19.3% to $116.49 million from $97.62 million in the same period last year. For the reported quarter, the segment's EBT increased 80.9% to $19.28 million from $10.66 million in Q3 FY16.

Real Estate - During Q3 FY17, the Real Estate segment's revenue decreased 61% to $3.28 million from $8.43 million in the same period last year. For the reported quarter, the segment's EBT decreased 75% to $1.47 million from $5.89 million in Q3 FY16.

Balance Sheet

As on September 30, 2017, Potlatch's cash and cash equivalents increased 41.4% to $116.80 million from $82.58 million on December 31, 2016.

During Q3 FY17, the Company's net receivables increased 35.7% to $23.46 million from $17.28 million in Q4 FY16. For the reported quarter, Potlatch's inventories decreased 25.3% to $39.26 million from $52.62 million in the fourth quarter of 2016.

For the reported quarter, the Company's accounts payable and accrued liabilities increased 38.9% to $60.74 million from $43.71 million in Q4 FY16. For the reported quarter, the Company's long-term debt decreased 2.4% to $559.02 million from $572.96 million in the fourth quarter of 2016.

During FY17, Potlatch's YTD cash provided by operating activities increased 73.8% to $129.35 million from $74.39 million in the same period last year.

On October 23, 2017, the Company's Board of Directors declared a dividend of $0.40 per share payable on December 29, 2017, to stockholders of record on December 08, 2017.

Stock Performance

At the closing bell, on Tuesday, October 31, 2017, Potlatch's stock marginally climbed 0.68%, ending the trading session at $51.80. A total volume of 491.13 thousand shares have exchanged hands, which was higher than the 3-month average volume of 322.05 thousand shares. The Company's stock price soared 8.82% in the last three months, 14.73% in the past six months, and 34.90% in the previous twelve months. Moreover, the stock surged 24.37% since the start of the year. The stock is trading at a PE ratio of 23.96 and has a dividend yield of 3.09%. The stock currently has a market cap of $2.11 billion.

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SOURCE: Pro-Trader Daily