SPOKANE, Wash. (AP) — SPOKANE, Wash. (AP) — Potlatch Corp. (PCH) on Monday reported first-quarter net income of $16.3 million.
On a per-share basis, the Spokane, Washington-based company said it had net income of 20 cents. Earnings, adjusted for costs related to mergers and acquisitions, came to 23 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The timberland owner and wood products company posted revenue of $258 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $234.5 million.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PCH at https://www.zacks.com/ap/PCH
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