SPOKANE, Wash. (BUSINESS WIRE) -- PotlatchDeltic Corporation reported net income of $25.9 million, or $0.33 per diluted share, on revenues of $314.2 million for the quarter ended September 30, 2025. Excluding after-tax special items, including merger-related expenses, adjusted net income was $27.8 million, or $0.36 per diluted share for the third quarter of 2025. Net income was $3.3 million, or $0.04 per diluted share, on revenues of $255.1 million for the quarter ended September 30, 2024.

Third Quarter 2025 Highlights

Generated Total Adjusted EBITDDA of $89.3 million and Total Adjusted EBITDDA margin of 28.4%
Entered into a definitive merger agreement with Rayonier Inc. to create a leading U.S. land resources owner and top-tier lumber manufacturer
Refinanced $100 million of maturing debt, preserving a weighted average cost of 2.3% across the debt portfolio
Maintained strong liquidity of $388 million as of September 30, 2025

"We are pleased with the strong operational performance across all business segments during the third quarter," said Eric Cremers, President and Chief Executive Officer of PotlatchDeltic. "Our Real Estate segment captured opportunities to maximize timberland values, including two significant rural land sales in Georgia. In addition, our Wood Products segment delivered disciplined cost management, reinforcing operational resilience and positioning the division to capitalize when market conditions improve. Looking ahead, we remain focused on executing our operational and financial priorities, and on completing the pending merger with Rayonier - a transformative transaction expected to close in late first quarter or early second quarter 2026. This merger will create a premier land resources company with a strong pro forma balance sheet, well-positioned for growth and delivering long-term shareholder value."