PotlatchDeltic Corporation (NASDAQ:PCH) Q1 2023 Earnings Call Transcript

Mike Roxland: And then just one quick one on Southern sawtimber prices. Recent data from trade publication showed a mid single digit percent year-over-year decline in Southern sawtimber prices in 1Q. It appears that you’re doing better than that. Any reason as to why there’d be a difference versus that — versus the publication? Is it where your assets are located, is it mix? So I’m just trying to get a sense of why there’s such a — why the outperformance in your — with your timber relative to what the publication is showing for the broader US yourself?

Eric Cremers: I mean it varies by location. We’re going to be down — I guess we were down 1% in Arkansas for Southern Pine fourth quarter to the first quarter. And we were down 3% over in those more tensioned wood baskets over in Georgia and South Carolina. We were down 4% in Mississippi quarter-over-quarter. So it just varies. My outlook for Arkansas in Q2 is flat compared to Q1. So it just — it bounces around depending upon the specific location. I think the good news is it’s not completely going into the ditch, number one. And then number two, any time you have a weather event, that can turn prices around so fast. So it’s hard to read too much into these numbers.

Operator: And at this time, I’m showing there are no more questions. I’ll now turn the call back over to Wayne Wasechek.

Wayne Wasechek: Thank you, Lisa. Thank you for your questions and your interest in PotlatchDeltic. That concludes our call. Thank you.

Eric Cremers: Thank you.

Operator: Thank you. That does conclude today’s presentation. Thank you for your participation, and you may now disconnect.