Plum Creek Timber Q1 Profit Beats Estimates - Quick Facts

(RTTNews) - Plum Creek Timber Company, Inc. (PCL) reported that its first-quarter earnings decreased to $30 million, or $0.17 per share, from $56 million, or $0.35 per share, previous year. Adjusted EBITDA was $93 million, compared to $128 million, a year ago.

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.15 for the quarter. Analysts' estimates typically exclude special items.

Revenues decreased to $317 million from $340 million. Analysts expected revenue of $314.01 million for the quarter.

The company expects its 2014 income to be between $1.30 and $1.50 and second-quarter income between $0.27 and $0.32 per share. Analysts expect the company to report fiscal 2014 profit per share of $1.40 on second-quarter profit per share of $0.28.

"We are on track to achieve our goal of growing Plum Creek's non-real estate adjusted EBITDA by more than $80 million this year," said Rick Holley, chief executive officer of the company.