Stock Track | Potlatch Corporation Soars 5.28% on Strong Q3 Results and Optimistic Outlook

Stock Track10-30

Potlatch Corporation (PCH) experienced a significant stock price surge of 5.28% on October 30, 2024, driven by its impressive third-quarter results and optimistic outlook for the future.

The company reported solid adjusted EBITDA of $46 million for Q3 2024, despite challenging lumber markets. This strong performance was driven by the Timberlands segment, which generated $36 million in adjusted EBITDA, and the Real Estate segment, which contributed $32 million, benefiting from robust demand for rural properties and record average prices for residential lots.

A major highlight was the successful completion of the modernization and expansion project at the Waldo, Arkansas sawmill, which was finished on schedule and within budget. This project is expected to increase the mill's annual capacity by 85 million board feet and improve profitability through enhanced recovery and reduced processing costs.

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