CatchMark Timber sees FY18 adjusted EBITDA $42M-$48M
For full-year 2018, CatchMark projects a GAAP net loss of between $12 million and $15 million. The company anticipates its Adjusted EBITDA to register between $42 million and $48 million, including $5 million to $7 million of Adjusted EBITDA generated by the unconsolidated Dawsonville Bluffs joint venture and add-backs of $26 million to $29 million of depletion expense, $10.5 million to $12 million of land sale book basis, $3.8 million of stock-based compensation expense, $12 million of interest expense and $3.5 million to $4 million of such items related to the Dawsonville Bluffs joint venture. Harvest volumes are forecast between 2.0 million and 2.3 million tons with approximately a 40% to 50% harvest mix component from sawlogs. FY18 EPS consensus (34c).