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:
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:
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.
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.
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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