POTLATCHDELTIC CORP (: PCH)

PotlatchDeltic Corporation (PCH) is a leading timberland real estate investment trust (REIT) operating in the forestry and wood products industry. With operations in nine states and ownership of nearly 2.2 million acres of timberland in seven of those states, the company is a significant player in the sector. PotlatchDeltic's primary business activities include the ownership and management of timberlands, the manufacture and sale of wood products, and the development and sale of real estate.

The company's Timberlands segment is the largest, accounting for approximately 80% of the company's gross asset value. This segment owns and manages nearly 2.2 million acres of timberland, which is sustainably managed to optimize the balance among timber growth, prudent environmental management, and current cash flow. The company sells a portion of its logs at market prices to its Wood Products facilities and also sells sawlogs and pulpwood to third-party customers. PotlatchDeltic's Wood Products segment is the second-largest segment, accounting for approximately 15% of the company's gross asset value. This segment manufactures and sells lumber, plywood, and residual products at seven mills located in Arkansas, Idaho, Michigan, and Minnesota. The Real Estate segment is the smallest segment, accounting for approximately 5% of the company's gross asset value. This segment engages in real estate development and sales, and at times sells undeveloped acreage.

PotlatchDeltic's business strategy is focused on maximizing returns from its timberlands, leveraging its lumber prices, and capturing incremental value from its real estate holdings. The company's competitive advantages include its large and diverse timberland base, its integrated timberlands and Wood Products operating model, and its ability to provide a consistent and reliable supply of high-quality logs to its Wood Products facilities. The company's customers are primarily located in the United States and include a range of forest products companies, homebuilders, and other construction companies. The company's largest customer is Weyerhaeuser Company, which accounted for approximately 10% of the company's consolidated revenues in 2023.

PotlatchDeltic is committed to sustainability and environmental stewardship. The company's timberlands are managed sustainably to optimize the balance among timber growth, prudent environmental management, and current cash flow. The company's timberlands are certified to the SFI Fiber Sourcing Standard, which provides structure to how the company purchases fiber from certified and non-certified forestland. The company also has a strong focus on social responsibility, striving to make its workplace a place of excellence through its company culture, fair compensation, and comprehensive benefit options. PotlatchDeltic values an environment of safety, inclusion, and respect, integrity, operational excellence, community, and environmental stewardship, and looks to attract talent with diverse backgrounds and experience.

In terms of governance, PotlatchDeltic has a strong and effective board of directors, with a majority of independent directors. The company's board composition and independence policy require that the board be comprised of a majority of independent directors. The board meets regularly to oversee the company's strategy, risk management, and sustainability initiatives.

PotlatchDeltic's primary products and services include the ownership and management of timberlands, the manufacture and sale of lumber, plywood, and residual products, and real estate development and sales. The company's brand names and/or trade names of its products and services include its Wood Products facilities, which are certified to the Sustainable Forestry Initiative (SFI) Fiber Sourcing Standard, and its premier, upscale master-planned community in Little Rock, Arkansas, called Chenal Valley.