Potlatch: 2Q Earnings Snapshot
SPOKANE, Wash. (AP) _ Potlatch Corp. (PCH) on Monday reported second-quarter profit of $17.1 million.
The Spokane, Washington-based company said it had net income of 25 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 19 cents per share.
The timberland owner and wood products company posted revenue of $215.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $207.8 million.
Potlatch shares have climbed 22% since the beginning of the year. In the final minutes of trading on Monday, shares hit $38.50, a decline of 16% in the last 12 months.