2022-05-05 16:56:03 CTT CatchMark Timber
05/05/22 05/0516:56 05/05/2216:56 | CatchMark Timber reports Q1 EPS 7c, consensus (2c)Reports Q1 revenue $26.9M, consensus $22.01M. CEO Brian Davis said: "Q1 results again demonstrated how CatchMark's prime timberlands located in select leading U.S. South mill markets continue to deliver superior pricing for our harvests well above market averages while also registering significant year-over-year growth. For the full year, we expect to achieve sawtimber pricing of approximately 20% over 2021 as demand for new housing remains strong even in a higher interest rate environment. Retail land sales also contributed to our strong quarterly results, capturing excellent pricing for acreage with stocking and productivity characteristics below our portfolio averages. At the same time, our small-tract acquisition program has gained traction, benefiting from our improved balance sheet and strong liquidity position, and focusing on markets where our local presence gives us an advantage in finding good value." |
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