Stock Monitor: Weyerhaeuser Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 07, 2018 / Active-Investors.com has just released a free earnings report on Potlatch Corp. (NASDAQ: PCH). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=PCH. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on January 29, 2018. The timberland owner and wood products Company reported better than expected earnings. Register today and get access to over 1000 Free Research Reports by joining our site below:
Active-Investors.com is currently working on the research report for Weyerhaeuser Company (NYSE: WY), which also belongs to the Industrial Goods sector as the Company Potlatch. Do not miss out and become a member today for free to access this upcoming report at:
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Potlatch most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
Earnings Highlights and Summary
For the quarter ended December 31, 2017, Potlatch recorded revenues of $175.2 million, up 12.5% compared to $155.7 million in Q4 2016. The Company's revenue numbers exceeded analysts' estimates by $0.22 million.
Potlatch's revenues were $678.6 million in the full year FY17 compared to $599.1 million in FY16.
For Q4 2017, Potlatch reported a net income of $11.6 million, or $0.28 per diluted share, compared to $14.4 million, or $0.35 per diluted share, in Q4 2016. Excluding after-tax special items consisting primarily of a charge related to tax legislation and Deltic Timber merger-related costs, the Company's adjusted net income was $25.7 million, or $0.62 per diluted share, for the reported quarter, and was ahead of Wall Street's estimates of $0.60 per share.
Potlatch's net income was $86.5 million, or $2.10 per diluted share, for FY17 compared to $10.9 million, or $0.27 per diluted share, for FY16. Excluding after-tax special items consisting primarily of a charge related to tax legislation, Deltic Timber merger-related costs, and environmental charges for Avery Landing, the Company's adjusted net income was $103.6 million, or $2.51 per diluted share, in FY17, while excluding the after-tax loss on the sale of central Idaho acreage and environmental charges for Avery Landing, the Company's net income was $48.2 million, or $1.18 per diluted share, in FY16.
During Q4 2017, Potlatch's Resource segment's operating income was $29.9 million, on revenues of $75.8 million, compared to an operating income of $22.7 million, on revenues of $66.8 million, in Q4 2016.
For Q4 2017, Potlatch's Wood Products segment earned an operating income of $19.5 million, on revenues of $114.5 million, compared to an operating income of $8.3 million, on revenues of $95.6 million, in Q4 2016.
During Q4 2017, Potlatch's Real Estate segment reported an operating income of $2.8 million, on revenues of $4.7 million, compared to an operating income of $5.97 million, on revenues of $8.7 million, in Q4 2016.
Pending Merger with Deltic Timber
On October 22, 2017, Potlatch and Deltic Timber entered into an Agreement and Plan of Merger. Deltic Timber's and Potlatch's shareholder votes related to the merger are scheduled on February 20, 2018.
At the end of FY17, Potlatch's cash balance was $120.5 million, increasing approximately $40 million on a y-o-y basis, largely due to strong lumber prices. Potlatch successfully completed $22 million of bolt-on timberland acquisitions and repaid $11 million of debt. The Company also returned $62 million to shareholders in the form of dividends during FY17.
Potlatch expects the US housing market to continue its recovery and the Company's 2018 outlook assumes that approximately 1.3 million housing units will be built in the US this year. Potlatch is forecasting lumber prices to remain strong in 2018, in light of final duties on Canadian lumber shipments to the US and an anticipated increase in lumber demand.
Stock Performance Snapshot
February 06, 2018 - At Tuesday's closing bell, Potlatch's stock was slightly up 0.20%, ending the trading session at $50.80.
Volume traded for the day: 837.57 thousand shares, which was above the 3-month average volume of 539.52 thousand shares.
Stock performance in the last month – up 1.40%; previous six-month period – 4.74%; past twelve-month period – up 18.00%; and year-to-date – up 1.80%
After yesterday's close, Potlatch's market cap was at $2.09 billion.
Price to Earnings (P/E) ratio was at 24.21.
The stock has a dividend yield of 3.15%.
The stock is part of the Industrial Goods sector, categorized under the Lumber, Wood Production industry. This sector was up 1.5% at the end of the session.
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