Earnings for the first six months of 2015 were $63 million, or $0.35 per diluted share, on revenues of $708 million. Earnings for the first six months of 2014 were $85 million, or $0.47 per diluted share, on revenues of $673 million.
Adjusted EBITDA, a non-GAAP measure of operating performance, for the first six months of 2015 was $269 million, a $36 million increase from the $233 million for the same period of 2014.
“2Q earnings were slightly better than we initially thought,” said Rick Holley, Plum Creek’s CEO. “All of our business segments performed well in the 2Q with our Manufacturing and Real Estate segments reporting better results than we initially anticipated. Improving consumer confidence, employment, and residential construction activity are encouraging and leading indicators of future demand growth.”
Plum Creek is among the largest and most geographically diverse private landowners in the nation with more than 6 million acres of timberlands in 19 states. The company also operates wood products mills in the Northwest.
