Potlatch’s earnings rise
.January 28th, 2015
Potlatch Corp., of Spokane, reported today fourth-quarter net income of $20.1 million, or 49 cents a diluted share, up from $13.7 million, or 34 cents a share, in the year-earlier period.
Fourth-quarter revenues hit $146.2 million, up from $140 million in the year-earlier period.
For all of 2014, the wood products maker posted earnings of $89.9 million, or $2.21 a share, up from $70.6 million, or $1.74 a share, in 2013.
Potlatch chairman and CEO Michael Covey said in a press release that the company plans to cut more timber this year in anticipation of more demand.
“We expect the recovery in the U.S. housing market to continue in 2015, which will translate into higher earnings in resource and another strong year in wood products,” Covey said in the release.
He added that the company’s real estate segment plans to sell a total of about 20,000 acres this year, but it isn’t planning any large sales.