Southern Timberlands Acquisition
Acquisition of 117,000 acres of timberlands in North Carolina and Virginia for $375 million, expected to deliver a 5.1% average annual free cash flow yield over the first 5 years.
Natural Climate Solutions Growth
Received approval on the third forest carbon project with six additional projects in progress. On track to reach $100 million of adjusted EBITDA by year-end.
Share Repurchase and Dividends
Completed $100 million in share repurchase in the second quarter, the highest quarterly level since late 2022. Announced a new $1 billion authority for share repurchases.
Strong Real Estate, Energy, and Natural Resources Performance
Contributed $106 million to second quarter earnings and $143 million to adjusted EBITDA, driven by high-value transactions and significant premiums to timber value.