The company expects its full-year harvest to approximate 17.5 million tons, including approximately 700,000 tons from this year’s timber deed acquisition.
During the fourth quarter, the company expects to harvest approximately 1 million tons in its Northern Resources segment and approximately 3 million tons in its Southern Resources segment.
Fourth quarter Real Estate segment sales are expected to be between $60 million and $80 million.In the fourth quarter, seasonally lower sales volumes are expected to reduce the Manufacturing segment’s profitability compared to the third quarter. The company expects to report fourth quarter earnings between $0.25 and $0.30 per share. “Our operations continue to perform well and our operating flexibility allows us to respond quickly to our customers’ needs as markets improve. We expect the results from our timber business to improve further in 2013 as the housing market and economy continue to strengthen,” continued Holley. “We are excited about the future, and look forward to 2013 with optimism. Disciplined capital allocation is just as important in a recovery as it is during a downturn. It remains our top priority at Plum Creek. We continually evaluate the best use of the cash we generate with the goals of delivering value to shareholders while growing the per-share value of the company over time,” concluded Holley. Earnings Conference Call and Supplemental Information Plum Creek will hold a conference call today, Oct. 29, at 5:00 p.m. ET (2:00 p.m. PT). A live webcast of the conference call may be accessed through Plum Creek’s Internet site at www.plumcreek.com by clicking on the “Investors” link. Investors without Internet access should dial 1-800-572-9852 at least 10 minutes prior to the start of the call, referencing Plum Creek’s earnings conference call. Those wishing to access the call from outside the United States and Canada should dial 1-706-645-9676, also referencing Plum Creek’s earnings conference call. Replay of the call will be available for 48 hours after completion of the live call and can be accessed at 1-855-859-2056 or 1-404-537-3406 (international calls), using the code 21136768.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts