PotlatchDeltic Corporation (PCH) CEO Mike Covey on Q4 2018 Results - Earnings Call Transcript

PotlatchDeltic Corporation (NASDAQ:PCH) Q4 2018 Earnings Conference Call February 5, 2019 12:00 PM ET

Company Participants

Jerry Richards - VP and CFO
Mike Covey - Chairman and CEO
Eric Cremers - President and COO

Conference Call Participants

John Babcock - Bank of America Merrill Lynch
Collin Mings - Raymond James
Ketan Mamtora - BMO Capital Markets
Chip Dillon - Vertical Research
Steve Chercover - D.A. Davidson
Paul Quinn - RBC Capital Markets

Operator

Good morning. My name is Lindsey, and I will be your conference operator today. At this time, I would like to welcome everyone to the PotlatchDeltic Fourth Quarter 2018 Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I would now like to turn the call over to Mr. Jerry Richards, Vice President and Chief Financial Officer, for opening remarks. Sir, you may begin.

Jerry Richards

Thank you, Lindsey, and good morning to everyone on the call. Welcome to PotlatchDeltic's investor call and webcast covering our fourth quarter 2018 earnings. With me in the room are Mike Covey, Chairman and Chief Executive Officer; and Eric Cremers, President and Chief Operating Officer.

This call will contain forward-looking statements. Please review the warning statements in our press release, on the presentation slides, and in our filings with the SEC concerning the risks associated with these forward-looking statements. Also, please note that a reconciliation of non-GAAP measures can be found on our Web site at www.potlatchdeltic.com.

I'll now turn the call over to Mike for some comments, and then I will cover our fourth quarter results and our outlook.

Mike Covey

Thank you, Jerry, and good morning. As the timber REIT with the most leverage-to-lumber prices, we certainly felt the impact of the 30% to 50% decline