Catchmark Timber Trust, Inc. (CTT) 10-Q Quarterly Report May 2022

•Achieved full-year U.S. South timber sales pricing 17% and 14% higher than prior year for pulpwood and sawtimber, respectively, and fourth quarter U.S. South pricing 32% and 21% higher than 2020, respectively, driven by strong market fundamentals.

ATLANTA – February 10, 2022 – CatchMark Timber Trust, Inc. (NYSE: CTT) today reported fourth quarter and full-year 2021 results. The company also declared a cash dividend of $0.075 per share for its common stockholders of record as of February 28, 2022, payable on March 15, 2022.

Brian M. Davis, CatchMark's Chief Executive Officer, said: “CatchMark exceeded our 2021 guidance for net income and met our 2021 guidance for Adjusted EBITDA, continuing our long track record of achieving timber sales prices substantially above market averages, while maintaining the highest productivity per acre among our peers. These results again attest to the prime quality of our timberlands in leading mill markets and our success in managing our delivered wood sales model supplemented by opportunistic stumpage sales. Following the completion of recent strategic large dispositions and the Triple T exit, we are now

The following information was filed by Catchmark Timber Trust, Inc. (CTT) on Thursday, February 10, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Catchmark Timber Trust, Inc.'s 10-Q Quarterly Report:

Financial - Cash Flow Highlight
Therefore, to the extent that cash flows from operations are lower, whether as a result of a reduction in anticipated harvest amounts or timber sales, decreases in asset management fees or distributions from joint ventures, or otherwise, timberland acquisitions and stockholder distributions are anticipated to be lower as well.

Financial - Cash Flow Highlight
Long-Term Liquidity and Capital Resources Over the long-term, we expect our primary sources of capital to include net cash flows from operations, including proceeds from timber sales, timberland sales, revenues generated from environmental initiatives, and from other capital raising activities, including proceeds from secured or unsecured financings from banks and other lenders; and public offerings of equity or debt securities.
Financial - Expense Highlight
Forestry management expenses decreased $0.3 million to $1.6 million for the three months ended March 31, 2022 from $1.9 million for the three months ended March 31, 2021 primarily due to lower personnel costs.
Other - Other Highlight
Due to these limitations, Adjusted EBITDA should not be considered as a measure of discretionary cash available to us to invest in the growth of our business.
Financial - Expense Highlight
Interest expense decreased $0.4 million to $2.5 million for the three months ended March 31, 2022 primarily due to a lower weighted-average debt outstanding balance and a $0.2 million decrease in amortization of the off-market swap value in the current year period.
Financial - Expense
Other operating expenses decreased by...Read more
Financial - Expense
Adjusted EBITDA does not reflect...Read more
Financial - Shares
Share Repurchase Program On August...Read more
Financial - Shares
As of March 31, 2022,...Read more
Financial - Earnings
Our reconciliation of net income...Read more
Revenue - Product
Results of Operations Overview Our...Read more
Other - Other
Short-Term Liquidity and Capital Resources...Read more
Financial - Expense
31 Table of Contents (5)Includes...Read more
Revenue - Product
On May 7, 2020, we...Read more
Other - Other
We are seeking to expand...Read more
Financial - Shares
Shelf Registration Statement and Equity...Read more
M & A - Other
Our strategic investment opportunities include...Read more
Revenue - Product
Timberland sales price per acre...Read more
Revenue - Product
Timber sales revenue totaled $17.7...Read more
Financial - Cash Flow
26 Table of Contents We...Read more
Financial - Debt
Debt Covenants As of March...Read more
Revenue - Product
Timberland sales revenue increased by...Read more
Financial - Income
Our Investment Management segment includes...Read more
Financial - Expense
General and administrative expenses increased...Read more
Revenue - Product
As a result, we increased...Read more
Other - Other
Net cash used in financing...Read more
Financial - Dividend
On May 5, 2022, we...Read more
Other - Other
23 Table of Contents As...Read more
Financial - Earnings
Adjusted EBITDA is a supplemental...Read more
Revenue - Product
Our net timber sales price...Read more
Revenue - Product
During the first quarter of...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Catchmark Timber Trust, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 10.1: Form Of Time-Based Restricted Stock Award Certificate

Exhibit 10.2: Form Of Performance-Based Restricted Stock Award Certificate

Exhibit 10.3: Form Of Performance-Based Ltip Unit Award

Exhibit 10.4: Form Of Der For Restricted Stock Award

Exhibit 10.5: Form Of Der For Ltip Units Award

Exhibit 31.1: Section 302 Cert-Peo

Exhibit 31.2: Section 302 Cert-Pfo

Exhibit 32.1: Section 906 Cert

Ticker: CTT
CIK: 1341141
Form Type: 10-Q Quarterly Report
Accession Number: 0001341141-22-000022
Submitted to the SEC: Thu May 05 2022 4:06:27 PM EST
Accepted by the SEC: Thu May 05 2022
Period: Thursday, March 31, 2022
Industry: Real Estate Investment Trusts