Timberland Operations - PotlatchDeltic Corporation owns 2.1 million acres of timberland across nine states, with a significant portion of its operations focused on timberland management and wood products manufacturing[14]. - The Timberlands segment generated approximately 26% of its revenues from internal log sales to Wood Products facilities in 2024, indicating a strong integration between segments[21]. - Approximately 29% of the total harvest volume was sold under long-term log supply agreements with third parties in 2024, with expectations to maintain similar percentages in 2025[22]. - The estimated volume of current standing merchantable timber inventory is updated annually, reflecting increases from young growth and decreases from harvests, with significant reliance on statistical methods for estimation[26]. - Estimated standing timber inventory as of December 31, 2024, is 111.3 million tons, a decrease of 2.1 million tons (1.85%) from 2023[27]. - Total timber harvested in 2024 was 7.636 million tons, with the Northern region contributing 1.467 million tons and the Southern region contributing 6.169 million tons[29]. - The projected total harvest for 2025 is approximately 7.4 million tons, based on constant timberland holdings and market conditions[29]. - The Timberlands segment's revenues are influenced by domestic production of wood-based building products and the overall health of the U.S. housing market[17]. - The company has identified approximately 135,000 acres of non-core timberland real estate intended for sale over time, indicating a strategy to optimize asset value[18]. Wood Products Segment - The company ranks as a top-10 softwood lumber producer in the U.S. with a capacity of approximately 1.2 billion board feet and an industrial-grade plywood mill with 150 million square feet of capacity[18]. - The Wood Products segment has a capacity of 1.2 billion board feet (MMBF) for softwood lumber and 150 million square feet (MMSF) for plywood[31][34]. - Actual sawmill production for 2024 was 1.120 billion board feet, indicating operational efficiency[34]. - In 2024, 100% of timber consumption at Wood Products facilities was SFI Fiber Sourcing certified, reflecting commitment to sustainable sourcing[38]. - Wood Products segment revenues also decreased to $601,924 in 2024 from $635,672 in 2023, a decline of 5.3%[388]. Financial Performance - PotlatchDeltic Corporation reported revenues of $1,062,076,000 for the year ended December 31, 2024, a 3.7% increase from $1,024,075,000 in 2023[314]. - Operating income decreased significantly to $33,192,000 in 2024, compared to $85,750,000 in 2023, marking a decline of 61.2%[314]. - Net income for 2024 was $21,876,000, down from $62,101,000 in 2023, representing a decrease of 64.8%[314]. - The company’s total assets decreased to $3,305,443,000 in 2024 from $3,431,256,000 in 2023, a decline of 3.7%[318]. - Comprehensive income for 2024 was $32,985,000, down from $67,481,000 in 2023, a decrease of 51.1%[316]. - Cash flows from operating activities increased to $188,470,000 in 2024, up 18.4% from $159,111,000 in 2023, but down from $491,901,000 in 2022[320]. Environmental and Sustainability Initiatives - The company is committed to corporate responsibility, focusing on environmental stewardship and sustainable management of its timberlands[18]. - At the end of 2023, the company's forests stored approximately 487 million metric tons of Carbon Dioxide Equivalent (CO2e), with about 93 million metric tons of CO2e in merchantable above-ground portions[65]. - In 2023, total net above-ground carbon removal was approximately 6.4 million metric tons of CO2e, including harvest and other inventory adjustments[67]. - The company aims to achieve a 42% reduction in Scope 1 and Scope 2 GHG emissions by 2030, based on a 2021 baseline[69]. - The company has established GHG reduction targets, including a goal to achieve net-zero GHG emissions by 2050[69]. - Timberland acreage impacted by wildfires has increased since 2000, prompting the company to implement practices to mitigate wildfire risk[55]. Corporate Governance and Workforce - The board of directors consists of nine members, with seven being independent and three being women, including one who is ethnically diverse[81]. - The company employs 1,383 team members, with hourly workers representing approximately 73% of the total workforce[73]. - Women represent 33% of the salaried workforce, 14% of the hourly workforce, and 19% of the total workforce as of December 31, 2024[78]. - The company has implemented comprehensive safety programs, including safety audits and training, to prioritize employee health and safety[74]. Risk Management and Compliance - The company faces various risks, including changes in timber prices, economic conditions, and environmental factors that could impact its operations and financial performance[10]. - The company utilizes an Enterprise Risk Management (ERM) framework to identify, assess, and mitigate significant risks, including environmental and social governance topics[87]. - The company conducts regular internal audits to ensure compliance with environmental, safety, financial, and disclosure regulations[88]. - The company is subject to various federal and state laws and regulations affecting its manufacturing operations, including air emissions and water quality standards[96]. - The company anticipates that increasingly strict environmental laws may lead to additional operational restrictions and increased costs[100]. Real Estate Segment - The company develops about 130 residential lots annually in the Chenal Valley area, with approximately 1,200 potential residential lots available for future development[46]. - The Real Estate segment includes the sale of non-strategic land holdings and development projects, enhancing the company's asset utilization[386]. - Real Estate segment revenues increased significantly to $170,629 in 2024 from $87,988 in 2023, a growth of 94%[388]. Mergers and Acquisitions - The company issued $176,000,000 in long-term debt in 2024, significantly higher than $40,000,000 in 2023[320]. - The CatchMark merger resulted in an allocation of $782.3 million to timber and timberlands, $3.0 million to intangible assets, and $32.0 million to other assets[333]. - The company assumed $323.1 million of liabilities, including $300.0 million of outstanding long-term debt, in the CatchMark merger[333].

Core Viewpoint - Appia Rare Earths & Uranium Corp. has announced updated results from its Ionic Adsorption Clay (IAC) rare earth elements (REE) targets at the PCH project, confirming extensive mineralization and excellent recovery rates of critical Magnet Rare Earth Oxides (MREO) [1][2]. Group 1: Mineralization and Recovery Results - A total of 1,173 samples from 163 Auger drillholes were tested, confirming extensive IAC style REE mineralization [1]. - The desorption results indicate high recovery rates for Heavy Rare Earth Oxides (HREO) across various targets, with notable averages: - Taygeta: 33.8% TREO, 34.5% HREO, 60.1% NdPr, 37.3% DyTb - Merope: 29.0% TREO, 44.2% HREO, 35.0% NdPr, 43.9% DyTb - Maia: 34.0% TREO, 47.4% HREO, 69.0% NdPr, 49.6% DyTb - Electra: 11.3% TREO, 28.5% HREO, 15.1% NdPr, 22.6% DyTb [4][7]. Group 2: Future Plans and Assessments - The company plans to execute additional drilling to further define key target zones and update the current Mineral Resource Estimate (MRE) of the PCH project, while preparing for a Preliminary Economic Assessment (PEA) report [2]. - The auger drilling has only tested the upper 5-8 meters of the system, indicating potential for further mineralization at depth [2][11]. Group 3: Technical Details and Quality Control - Desorbability tests were conducted using Ammonium Sulfate at varying pH levels, showing no significant difference in results, indicating robust testing methods [8][23]. - Quality control measures included the use of blanks, duplicates, and standards in each analytical run to ensure the reliability of results [22]. Group 4: Company Overview - Appia Rare Earths & Uranium Corp. is focused on the rare earth element and uranium sectors, holding rights to the PCH Ionic Adsorption Clay Project in Brazil and exploring for high-grade uranium in the Athabasca Basin [25]. - The company has a total of 153 million common shares outstanding and 177 million shares fully diluted [26].

Core Insights - Ophir Metals Corp. has confirmed high-grade cesium mineralization at the HW3 Pegmatite on the Pilipas Property in Quebec, indicating significant potential for multi-commodity exploration [3][8][21] Summary by Sections Exploration Results - The channel sampling program at HW3 Pegmatite included four channels totaling 74.3 meters, confirming high-grade cesium with notable lithium and tantalum levels [4][5] - Key results include: - PCH24-001: 6.00% Cs2O over 1.4 m and 12.40% Cs2O over 0.5 m - PCH24-002: 5.0 m at 1.46% Cs2O, including 3.0 m at 2.29% Cs2O and 1.0 m at 5.30% Cs2O - PCH24-003: 4.0 m at 1.81% Cs2O, including 2.0 m at 2.30% Cs2O [5][7] Project Development - The HW3 Pegmatite's dimensions have expanded to approximately 15 m by 23 m, remaining open in several directions, with additional markers of mineralization observed [6][8] - The project is strategically located near hydroelectric power and an all-season road, enhancing its accessibility [3] Market Context - Cesium is classified as a "Critical Mineral" in Canada, essential for various applications including GPS and 5G technology, highlighting its economic significance [10][11] - The Tanco mine in Manitoba, a primary cesium source, faces competition and is exploring redevelopment options, indicating a potential supply gap in the market [12] Company Overview - Ophir Metals Corp. is focused on the exploration and development of the Pilipas Lithium Properties and has an option to earn a 70% interest in the Pilipas Property [22]

Q4 2024 EARNINGS January 28, 2025 FORWARD-LOOKING STATEMENTS & NON-GAAP MEASURES FORWARD-LOOKING STATEMENTS This presentation contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended, including without limitation, our expectations regarding the company's revenues, costs and expenses; expected liquidity; the U.S. economic condition; the success of the company's business strategies; the company's disciplined and opportunistic capital all ...

Financial Performance - Net income for Q4 2024 was $5.2 million, or $0.07 per diluted share, compared to a net loss of $0.1 million in Q4 2023[1][2] - Full year 2024 net income was $21.9 million, or $0.28 per diluted share, down from $62.1 million, or $0.77 per diluted share in 2023[2] - Operating income for Q4 2024 was $13.3 million, compared to $7.2 million in Q3 2024 and $29,000 in Q4 2023, with total operating income for the year at $33.2 million, down from $85.8 million in 2023[20] - Net income for Q4 2024 was $5.2 million, an increase from $3.3 million in Q3 2024, while the annual net income decreased to $21.9 million from $62.1 million in 2023[20] - Basic and diluted net income per share for Q4 2024 was $0.07, compared to $0.04 in Q3 2024 and no earnings in Q4 2023, with annual earnings per share at $0.28, down from $0.78 in 2023[20] - Total Adjusted EBITDDA for 2024 was $232.1 million, with a margin of 22%[4] - Total Adjusted EBITDDA for Q4 2024 reached $53.3 million, up from $45.9 million in Q3 2024 and $40.7 million in Q4 2023, indicating a year-over-year increase of 31%[31] Revenue Breakdown - Revenues for Q4 2024 were $258.1 million, an increase from $254.5 million in Q4 2023[5] - Revenues for Q4 2024 reached $258.1 million, a slight increase from $255.1 million in Q3 2024 and $254.5 million in Q4 2023, resulting in a total revenue of $1.062 billion for the year, up from $1.024 billion in 2023[20] - Wood Products revenues increased by $20.9 million to $160.3 million in Q4 2024, with average lumber prices rising 11% to $445 per thousand board feet[7][8] - Timberlands revenue for Q4 2024 was $95.3 million, down 9.4% from $105.1 million in Q3 2024 and a decrease of 2.1% from $97.4 million in Q4 2023[28] - Real Estate revenues decreased to $25.1 million in Q4 2024 from $38.7 million in Q3 2024[9] - Real Estate revenue for Q4 2024 was $25.1 million, a decrease of 35% from $38.7 million in Q3 2024, but an increase from $27.9 million in Q4 2023[28] Assets and Liabilities - Total current assets decreased to $299.1 million in Q4 2024 from $376.9 million in Q4 2023, primarily due to a reduction in cash and cash equivalents[22] - Total assets decreased to $3.305 billion in Q4 2024 from $3.431 billion in Q4 2023, reflecting a decline in timber and timberlands[22] - Total liabilities increased slightly to $1.268 billion in Q4 2024 from $1.260 billion in Q4 2023, with long-term debt rising to $935.1 million from $858.1 million[22] Cash Flow and Dividends - Cash flows from operating activities for Q4 2024 were $45.4 million, up from $26.5 million in Q3 2024, while total cash from operating activities for the year was $188.5 million, compared to $159.1 million in 2023[25] - The company declared dividends of $0.45 per share for both Q4 2024 and Q3 2024, maintaining the same level as in Q4 2023, with total dividends for the year at $1.80[20] Shareholder Actions - The company repurchased 847,000 shares for $35 million, averaging $41 per share[4] - The company sold 34,100 acres of Southern timberlands for $57 million, averaging $1,700 per acre, and acquired 16,000 acres for $31 million, averaging $1,900 per acre[4] Market Outlook - The company is optimistic about improving lumber markets despite ongoing challenges to housing affordability[4] - The company plans to continue focusing on market expansion and new product development to drive future growth[28] Other Financial Metrics - Interest expense for the year ended December 31, 2024, was $28.9 million, compared to $24.2 million in the previous year, reflecting a year-over-year increase of 19%[31] - The company reported a total depreciation, depletion, and amortization expense of $113.1 million for the year ended December 31, 2024, down from $121.2 million in 2023[31] - The company reported a significant gain on fire damage in previous periods, which impacted net income, with no such gains reported in Q4 2024[20]

Core Viewpoint - PotlatchDeltic Corporation (PCH) is expected to report its fourth-quarter 2024 results on January 27, with mixed performance indicators suggesting potential challenges and opportunities in its financial results [1]. Financial Performance - In the last quarter, adjusted earnings and revenues exceeded the Zacks Consensus Estimate by 200% and 6.6%, respectively, but showed year-over-year declines of 71.4% and 4.1% [2]. - The Zacks Consensus Estimate for adjusted earnings per share has improved from a loss of 5 cents to a break-even point over the past 30 days, aligning with the year-ago quarter's figure [3]. - Revenue estimates are projected at $241.2 million, reflecting a 5.2% decline from the previous year [3]. Revenue Trends - The fourth-quarter revenue performance is anticipated to decline year-over-year due to seasonal slowdowns, lower lumber prices, and decreased Northern sawlog prices, compounded by reduced lumber shipments from planned downtime at the Waldo, AR sawmill [4]. - Increased sales of rural acres and residential lots, along with favorable pricing in the housing market, may partially mitigate these headwinds [5]. - Revenue estimates for the Timberlands and Wood Products segments are $98 million and $154 million, respectively, showing year-over-year growth, while the Real Estate segment is expected to decline to $20 million from $27.91 million [6]. Margin Analysis - The bottom-line performance is likely to be affected by inflationary pressures and rising costs, particularly in selling, general, and administrative expenses due to professional service fees and employee-related costs [7]. - Increased costs associated with rural real estate sales and higher log and haul costs are also expected to contribute to margin pressures [7]. - However, lower raw material, production, and shipping costs at the Waldo, AR sawmill, along with operational improvements, may help offset some of the negative impacts on margins [8]. Earnings Prediction - The current model does not predict a definitive earnings beat for PotlatchDeltic, as the company lacks a positive Earnings ESP and a favorable Zacks Rank [9]. - PCH has an Earnings ESP of 0.00% and holds a Zacks Rank of 3, indicating a neutral outlook [10].

Core Viewpoint - Appia Rare Earths & Uranium Corp. announced exceptional results from its diamond drilling program at the PCH project in Goias, Brazil, confirming high-grade mineralization in the carbonatitic breccia zone [1][2]. Group 1: Drilling Results - The diamond drilling program included three drill holes that intercepted significant amounts of Total Rare Earth Oxide (TREO), Niobium Oxide (Nb2O5), and Phosphate Oxide (P2O5) [1]. - Drill hole PCH-DDH-002 reported 150 metres at 1.14% TREO, 0.12% Nb2O5, and 2.76% P2O5 from surface, with notable intervals of higher grades [3]. - Drill hole PCH-DDH-003 showed 147.7 metres at 1.69% TREO, 0.18% Nb2O5, and 3.26% P2O5 from surface, including 58 metres at 2.19% TREO [3]. - Drill hole PCH-DDH-004 recorded 153 metres at 1.08% TREO, 0.15% Nb2O5, and 2.31% P2O5 from surface, with significant intervals of higher grades [3]. Group 2: Mineralization Potential - The results indicate that the PCH project may contain substantial high-grade carbonatitic style rare earths, in addition to Ionic Adsorption Clay (IAC) rare earth deposits [2]. - Mineralization is open at depth and in multiple directions (northeast, northwest, and southwest), suggesting potential for further resource expansion [7]. Group 3: Project Development Plans - The company is developing plans for an expansion/resource-definition drilling program and preliminary mineralogical-metallurgical test work on the diamond drill core [2]. - The favorable location of the PCH project provides easy access to road and power infrastructure, along with a supportive relationship with the local community [4]. Group 4: Quality Control and Analysis - The samples from the diamond drill holes were sent to ALS laboratory for analysis, ensuring rigorous quality control measures were implemented throughout the sampling and analytical processes [11][12]. - All analytical results have passed internal QA/QC review, confirming the reliability of the reported data [13].

Potlatch (PCH) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual investors often find ...

Core Thesis - PotlatchDeltic Corporation (PCH) is currently trading at a significant discount (73% of net asset value) due to recent commodity pricing weakness, but the outlook for lumber is improving, suggesting a potential doubling of EBITDA from 2024 levels [3][26]. Supply and Demand Dynamics - The supply of lumber is declining as major producers like Canfor and Interfor are closing mills and reducing output due to low prices and rising tariffs, with North American lumber capacity expected to decrease by over 3 billion board feet in 2024 [5][6][7]. - Demand for lumber is anticipated to increase, driven by a potential uptick in housing activity, as indicated by improved homebuilder confidence and favorable survey results [12][13][14]. Financial Performance and Valuation - PCH's EBITDA is projected to be $223.5 million in 2024, despite current challenges, with the company maintaining a positive EBITDA due to its cost advantages from owning timberlands [8][26]. - The volatility in PCH's EBITDA is notable, with figures ranging from negative $9.5 million in 3Q24 to $652.8 million in 2021, reflecting the cyclical nature of the lumber market [22][23][24]. - PCH's trailing EV/EBITDA is 11.38X, indicating substantial undervaluation compared to the market, especially given the expected recovery in lumber prices [26][27]. Future Catalysts - The upcoming 4Q24 earnings report on January 27th is seen as a potential catalyst for PCH's stock recovery, as the company may report higher-than-expected EBITDA due to recent increases in lumber prices [28][29].

Conservative Income Portfolio targets the best value stocks with the highest margins of safety. The volatility of these investments is further lowered using the best priced options. Our Enhanced Equity Income Solutions Portfolio is designed to reduce volatility while generating 7-9% yields.We have been fairly tactical in our ratings on PotlatchDeltic Corporation (NASDAQ: PCH ). The company is the same that it was over the years, but our ratings have moved primarily on sentiment and trends we expect for the ...