An Eye on Financial Results: CatchMark Timber Trust Inc. (NYSE: CTT)

Jerome Brooks

I am Jerome Brooks and I focus on breaking news stories and ensuring we (“Tribune Updates”) offer timely reporting on some of the most recent stories released through market wires about “Industrial Goods” sector.

I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Tribune Updates specializing in quicker moving active shares with a short term view on investment opportunities and trends.

Address: 1461 Gore Street Houston, TX 77092, USA
Phone: (+1) 81 713-586-3713
Email: Jeromebrooks@tribuneupdates.com
Jerome Brooks

ATLANTA, November 13, 2019 – Shares of CatchMark Timber Trust Inc. (NYSE: CTT) showed the bearish trend with a lower momentum of -1.31% to $11.27. The company traded total volume of 136.535K shares as contrast to its average volume of 199.89K shares. The company has a market value of $555.72M and about 49.31M shares outstanding.

For the three months ended June 30, 2019, CatchMark Timber Trust, Inc. (CTT) reported revenues of $28.70M, $2.40M higher than the three months ended June 30, 2018 primarily as a result of a $2.80M increase in asset management fees mostly earned from the Triple T joint venture and a $1.40M increase in timberland sales revenue, offset by a $1.50M decrease in timber sales revenue. Gross timber sales revenue decreased by 8% primarily due to a 14% decrease in U.S. South harvest volumes offset by increases in U.S. South net timber sales price of 3% for sawtimber and 2% for pulpwood and harvests from the Bandon property in the Pacific Northwest. Bandon, which was acquired in August 2018, generated timber sales revenue of $1.20M.

Net loss increased to $30.60M for the three months ended June 30, 2019 from $1.50M for the three months ended June 30, 2018 primarily due to a $28.60M loss allocated from the Triple T joint venture.

Results for the Six Months Ended June 30, 2019:

Revenues for the six months ended June 30, 2019 were $51.20M, $0.90M higher than revenues for the six months ended June 30, 2018, primarily as a result of a $5.60M increase in asset management fees mostly earned from the Triple T joint venture, offset by a $3.60M decrease in timber sales and a $0.80M decrease in timberland sales revenue from selling fewer acres. Gross timber sales revenue decreased 10% due to a 14% decrease in harvest volume mitigated by a 4% increase in blended per-ton gross timber sales revenue. The Bandon Property in the Pacific Northwest generated timber sales revenue of $1.70M.

Net loss increased to $61.00M for the six months ended June 30, 2019 from $4.90M for the six months ended June 30, 2018 primarily due to the $56.10M loss allocated from the Triple T joint venture.

For the three months ended June 30, 2019, Adjusted EBITDA was $15.10M, a $1.10M increase from the three months ended June 30, 2018, primarily due to a $2.80M increase in asset management fees and a $1.40M increase in net timberland sales, offset by a $1.40M decrease in Adjusted EBITDA generated by the Dawsonville Bluffs joint venture, a $0.70M decrease in net timber sales, a $0.30M decrease in other revenue, a $0.30M increase in general and administrative expenses and a $0.30M increase in forest management and other operating expenses.

For the six months ended June 30, 2019, Adjusted EBITDA was $25.20M, a $3.70M decrease from the six months ended June 30, 2018, primarily due to a $5.90M decrease in Adjusted EBITDA generated by the Dawsonville Bluffs joint venture, a $1.50M decrease in net timber sales, a $0.60M decrease in net timberland sales, a $0.40M decrease in other revenue, a $0.70M increase in general and administrative expenses and a $0.20M increase in forest management expenses, offset by a $5.60M increase in asset management fee revenue.

The Company offered gross profit margin of 51.00%. ROE was recorded as -46.00% while beta factor was 1.26. The stock, as of recent close, has shown the weekly downbeat performance of -3.01% which was maintained at 58.73% in this year.

Jerome Brooks

Jerome Brooks

I am Jerome Brooks and I focus on breaking news stories and ensuring we (“Tribune Updates”) offer timely reporting on some of the most recent stories released through market wires about “Industrial Goods” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Tribune Updates specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 1461 Gore Street Houston, TX 77092, USA Phone: (+1) 81 713-586-3713 Email: Jeromebrooks@tribuneupdates.com

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