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Stock Market & Financial Investment News

News Breaks
January 29, 2013
06:48 EDTPCHPotlatch provides positive outlook for FY13
"We have a positive outlook for FY13. We expect the economy to continue to advance, driven by further improvements in the housing market. This economic backdrop should bolster our operating results, particularly in our Resource and Wood Products segments. US lumber demand jumped 6% in 2012 versus 2011 and is expected to increase another 10% in FY13. Furthermore, sawmill industry capacity is struggling to meet that higher demand after many years of poor performance, and last year's strong demand for lumber left dealers with relatively low inventory levels with which to meet that increased demand. As a result, lumber prices are trending higher, and we expect 2013 prices to remain higher than in 2012. In our Resource segment, we began to see the improvement in lumber prices work its way into higher sawlog prices. As a result, we are modestly increasing our harvest level in 2013 to 3.8M tons, as we continue to believe sawlog prices will be significantly higher in the years ahead as demand continues to improve. Our expectations for our Real Estate segment look a lot like those for 2012, with the exception that in 2013 we don't envision any large non-strategic land sales. However, we expect to have a consistent level of rural real estate and HBU sales at slightly higher prices. With the improved rates on our new credit agreement and over $80M of cash and short-term investments, we finished the year with a very strong balance sheet and excellent liquidity," concluded Covey.
News For PCH From The Last 14 Days
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April 22, 2014
06:33 EDTPCHPotlatch expects housing starts to exceed 1M in U.S. this year
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06:33 EDTPCHPotlatch reports Q1 EPS 50c, consensus 44c
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