Improvement in Timberlands and Wood Products Segments
Total adjusted EBITDDA increased from $53 million in Q4 to $63 million in Q1, driven by higher harvest volumes and improved performance across all segments.
Waldo Sawmill Modernization Success
The Waldo, Arkansas sawmill reached its new targeted annual nameplate capacity of 275 million board feet, completing its ramp-up phase three months ahead of schedule.
Strong Real Estate Segment Performance
Sold over 7,000 acres in Q1, with demand for rural real estate for conservation and recreational purposes contributing to strong sales.
Growth in Solar and Lithium Initiatives
Expanded solar option contracts by an additional 3,000 acres, totaling 38,000 acres under option. A promising lithium development initiative is underway in Arkansas.
Successful Capital Deployment and Share Repurchases
Repurchased $8 million of common stock, taking advantage of the stock trading at a significant discount to estimated net asset value.