Plum Creek looks forward to third quarter30 July 2007
Plum Creek Timber Company has announced second-quarter earnings of US$60m, down from US$62m in 2006.
However, this was an improvement on the Seattle-based company’s first-quarter earnings of US$45m and represents a diluted share value of 34 cents.
It also included a year-on-year US$2m upturn for Plum Creek’s manufacturing operations, which have focused on high-value products and negated “challenging commodity lumber and plywood markets”.
Plum Creek said that it expects third-quarter earnings to be between 43-48 cents and that log prices will be “fairly stable across the regions with any price movements driven by temporary changes in local supply and demand dynamics”.