PotlatchDeltic Corp., of Spokane, has reported second-quarter net income of $13.7 million, or 17 cents a diluted share, down from income of $22.3 million, or 28 cents a share, in the year-earlier period. 

Eric Cremers, president and CEO of the wood products company and real estate investment trust, said in a press release that all of the company's business segments delivered "solid operational execution" despite what he characterized as "languishing lumber markets and the current economic backdrop."

The company completed its sale of 34,100 acres of timberlands in the southern U.S. for $57 million during the quarter, highlighting what Cremers said was strong rural sales activity during the three-month period.

Separately, the company repurchased 610,000 shares of its own stock for $25 million, or $41 a share. 

At market close on Monday, July 29, PotlatchDeltic's stock price came in at $43.34 per share, compared with a 52-week high of $53.37 a share and a 52-week low of $37.06 a share.