Earnings release
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News Release For immediate release : Contact : ( Investors ) Jerry Richards 509.835.1521 ( Media ) Anna Torma 509.835.1558 Exhibit 99.1 A PotlatchDeltic PotlatchDeltic Corporation Reports Second Quarter 2021 Results SPOKANE , Wash . , July 26 , 2021 ( BUSINESS WIRE ) - Potlatch Deltic Corporation ( Nasdaq : PCH ) today reported net income of $ 187.9 million , or $ 2.77 per diluted share , on revenues of $ 447.5 million for the quarter ended June 30 , 2021. Net income was $ 2.6 million , or $ 0.04 per diluted share , on revenues of $ 181.6 million for the quarter ended June 30 , 2020 . Second Quarter 2021 Highlights • • Generated record Total Adjusted EBITDDA of $ 275.0 million and Total Adjusted EBITDDA margin of 61 % Historic lumber prices drove record Wood Products Adjusted EBITDDA of $ 204.6 million Record Timberlands Adjusted EBITDDA of $ 77.2 million propelled by higher Idaho sawlog prices Extended strong liquidity position to $ 891 million as of Q2 2021 " Lumber prices continued their historic run in the second quarter , driving another quarter of record financial performance , " said Eric Cremers , president and chief executive officer . “ Our employees did a good job navigating operational challenges , including a fire at our Ola , Arkansas sawmill . While lumber prices have recently retreated from historic highs , overall fundamentals that drive our business remain favorable . We are very well positioned to continue growing shareholder value and execute on our disciplined capital allocation strategy , including paying a meaningful special dividend in the fourth quarter of 2021 , " stated Mr. Cremers . Financial Highlights ( $ in millions , except per share data ) Q2 2021 Q1 2021 Q2 2020 Revenues $ 447.5 $ 354.2 $ 181.6 Net income $ 187.9 $ 131.1 $ 2.6 Weighted average shares outstanding , diluted ( in thousands ) 67,732 67,607 67,359 Net income per diluted share $ 2.77 $ 1.94 $ 0.04 Total Adjusted EBITDDA 275.0 $ 195.0 $ 35.3 Dividends per share $ 0.41 $ 0.41 $ 0.40 Net cash from operations Cash and cash equivalents $ 171.4 $ 169.9 $ 39.8 $ 512.0 $ 382.0 $ 81.0 1