PotlatchDeltic owns nearly 1.8 million acres of timberland and operates seven manufacturing facilities that produce lumber and plywood. We unlock value in lands that have a higher and better use than timberland and continue to grow our timber base. Through sustainable stewardship of our resources and efficient production at our facilities, we strive to provide economic benefit to the communities in which we operate and superior returns to our shareholders.
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"Our second quarter 2022 financial results reflect strong performance across all of our businesses,” said Eric Cremers, president and chief executive officer. “We continue to capitalize on attractive lumber prices, which we expect to remain higher than long-term averages for the rest of 2022. Key recent accomplishments include the announcement of our pending merger with CatchMark, a decision to spend $131 million to modernize and expand our Waldo, Arkansas sawmill, and returning cash of $35 million to shareholders, including $5 million of share repurchases. I am very excited about our growth opportunities and we are well-positioned with our strong balance sheet and liquidity to deliver exceptional shareholder value over the long-term." stated Mr. Cremers.
Eric Cremers - President and CEO