Plum Creek Timber Company, Inc. Reports Results for Second Quarter 2010

July 26, 2010 by timbercommunity

Plum Creek Timber Company, Inc. announced second quarter earnings of $35 million, or $0.21 per diluted share, on revenues of $258 million. Earnings for the second quarter of 2009 were $32 million, or $0.19 per diluted share, on revenues of $272 million.
"Our second quarter results were better than expected," said Rick Holley, Plum Creek's president and chief executive officer. "Northern sawlog prices, both softwood in the Pacific Northwest and hardwood in the Lake States and Northeast improved more than we had initially anticipated. Pulpwood markets throughout the country remained attractive, and improved demand from industrial panel customers led to solid gains in our manufacturing segment. In addition, activity in our real estate segment was better than expected."