Potlatch Corp. (PCH) Tops Q2 EPS by 2c

Potlatch Corp. (NASDAQ: PCH) reported Q2 EPS of $0.02, $0.02 better than the analyst estimate of $0.00. Revenue for the quarter came in at $128.7 million versus the consensus estimate of $132.79 million.

"Our earnings were pressured in the second quarter as a result of the slide in lumber prices over the first five months of the year and seasonally light harvest volumes," said Mike Covey, chairman and chief executive officer. "While it took a bit longer than expected, we were pleased to see the sharp recovery in lumber prices late in the quarter. In the second half of the year, we expect higher lumber prices, along with seasonally higher harvest levels and continued strength in the Minnesota rural recreation real estate market to result in much stronger earnings," concluded Mr. Covey.

For earnings history and earnings-related data on Potlatch Corp. (PCH) click here.

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