Company says stronger Real Estate results offset weak timber markets, with Southern pulpwood pricing down and Pacific Northwest harvest volumes lower year over year.
PotlatchDeltic
The merger will combine 4.2 million acres of timberland under the Rayonier name.
Real estate EBITDA rises to $74 million; outlook indicates full-year results at or above prior guidance while Pacific Northwest EBITDA falls 26%.
Real estate segment EBITDDA surges to $63.1 million, driven by rural land and commercial acreage transactions.
Combined company will control 4.2 million acres of timberland and 1.2 billion board feet in lumber capacity.