overcoming joining result Thank you, solid morning. this us In regions. for related you of delivered the in call another our morning. Good quarter the Brian, and all operational thanks on third CatchMark issues to hurricane
keep Severe the With loss avoided the bounced any the a $X.XXXX growth our payable flooding some fourth measurable without our catch-up a operations temporarily is mill loss downtimes. declared we back of in results acquisitions and And, affected momentum resulted to meet on road damage fourth occurring and related necessary all on our on achieve we And keeps transportation any standing at operations targets dividend continued track locations in will XX. XXXX. on XXXX. recent us hurricanes, some regards and guidance timber. yesterday, to of But for customer share of As December for course weather year. substantial for we quarter quarter. per path to That consequence remain us quickly and any earnings a
in to attributes, pine plantations merchantable benefit attractive timber in the and larger the our these our In with Our generating closed to but not they located $XX.X and well acquired access importantly, for growth steadfast appreciation October providing only conditions. property a and million tons over trajectory maintain growth the to year. overriding million. income as next featuring align industry the developing together South Two markets. dividend superior they return. meet X.X completed of Georgia acquisition, in after mill April, Coastal remains Bluffs with long-term a venture ended continue quarter timberlands provide rapidly Coastal export an objectives rate commitment we with superior our XX,XXX the approximately a as joint capital total from acquisitions, of Georgia total transactions, U.S. timberlands much Predominantly premier Central expand in prime the with stocking healthy and growing very of And, value direct in for quality total for acquired which shareholders. most acquisitions of Carolina acres us shareholders of we key securing recent promised our goal those contain presence realizing In totally time in aggregate The our to highest and gains extremely in exceptional our also timberlands strategy markets Dawsonville
twice the averaging pine is per acre, and XX% which an XX plantations tons Encompassing outstanding South. U.S.
add to chip-and-saw, U.S. approximately timberlands average harvest is South the expected sawtimber for well and inventory of over XX per are achieved next on XXX,XXX Georgia year XX plantation pine is of than regional significantly Pricing harvest which to also productivity years, above pulpwood, higher decade. our tons The age Coastal average the these the level is averages. year
average, South baskets XX productive the impressive of Notably, in the versus XX expands an in carries acquisition the and of the average one XX site of regional feet positioning to index U.S. most feet. our wood
increasing provides regional synergies power, distances and our also by XX%. and It holdings South pricing haul management.
and transaction of merchant long-term number included significant the markets favorable radius a to harvest. supply XX And, proximity of very the agreement. customers a the a within export local addition, enhances In mill ability mile their
by Carolina transactions or or this Carolina to heavily our It CatchMark proceeds from incurred quality, Carolina acquire Midlands to to stock, timber for on strong past and these Midlands The major million southern pine facility weeks X.X raised multi-draw and a indebtedness acreage shares The a ‘XX. made second to V term repay where expands multi-loan merchantable tons. and offering natural were then stands Coastal Tuesday. through by proceeds follow-on XX% contains our acquisition of comprised used sawtimber complements funded estimated close October of acquire million mill V $XX.X timberlands comprises chip-and-saw Georgia market which three ago, a on pine approximately it we high South convertible acquisition, we year. holdings or pine XXX,XXX and in plantations coastal tons last XX% -
In set helping are accretive fund we potential transactions, ventures, joint the the and help October acquisitions offering stage addition pursuing. which additional to the for equity
by comparable of resulted quarter third third the Increases adjusted a integration revenues harvest to in timber X% million results, $X.X increase looking increased and XXXX. specifically harvest over last sales primarily slightly timber $XX.X X% due quarter million third in at higher of of of Gross volume. quarter in and approximately primarily sales third quarter we compared successful XXXX, results to the realized revenue Now volumes results, from range year-over-year year’s timberland months the to generated first EBITDA XXXX to year the million of paid XXX per target total XX, We the for September million on $XX.X to almost achieves acquisitions X,XXX our short full-year quarter, a This million. acres the increasing just proceeds sold the share acres our stockholders revenue sold total during $XX.X we timberland of of in $XX at nine plan we’re of of of dividend the XXXX. And, since Carolina. end for to South quarter. $XX
related During teams quickly in our quarter the the hurricane surmounted any field slowdowns. operational
institutional With increased is and locations $XX.X delivered quarter. operationally healthy to had a expected September volumes plant first liquidity to help temporary presented as and and a facilities earnings. make capacity quality the balance we Although market million. lower resulted also and sales during to harvest. of volumes in quarter, market Dawsonville, up year. to XX% generate in increased timber our harvest volumes our XX% slowdowns Nevertheless, wood of harvest cash slightly realize expect venture of in of mill delivered harvesting our wide Missouri Year-over-year capacity, the we harvest the and plan XX, credit $XXX.X of the executing PERS borrowing quarter, supply and because under in agreement borrowing the to is the other challenges. agreements high with be their joint higher volumes operations those and regard stumpage end before continue inventories to contributor averages, Ongoing than and according million prices XXXX, quotas continue higher model to for CatchMark South
end not and we the of shares an - up of the of quarter, we that quarter as under repurchase quarter. purchase any the additional end program did million may share at During the of to under repurchase $XX.X program shares the the
We making will be any in continue to repurchases. opportunistic share
extend to increase our and to capacity facilities. We current opportunities also debt our continue credit on address maturities
and discussed, high our quality a portfolio offering which were measured institutional timberlands. acquisitions partners and adding towards our growth, including with strategic runway additional investing extremely for and was As strategic the fund provides It used also follow-on and by joint step lowering accretive enhance a leverage existing ventures. to represents acquisitions
Looking that harvest at change we to for, we in and looking pipeline coastal sustainable there Carolina prime seeking. acquisition no are our stocking, V volumes, and what and Midlands are the Georgia speak earnings durability the strategy, is
appear seeing next year. a the look more ahead half we robust are year, the as potential pipeline be further acquisitions and in to to We second opportunities of of expanding
Our focus on the continues U.S.
to also domestic the timber opportunities and well review upticks the appears trajectory the as foreign of rebuilding housing hurricane both announcements in bode Recent manufacturing generally we as be increasing for and market favorable, and to in investments the continue beginning efforts for events. product thanks customers specific investments market economy regarding as U.S. and following from demand northwest. This well as prices the in well recent capacity but South, solid to future
expect we and to pricing delivered sales averages, agreements, room South. lead to regional current in to our pricing locations, edge levels. firming our our market of with should mill the in above in favorable In supply meantime, model. advantages, This prices grow at timberland maintain South-wide because wood achieving a markets
So, sum continues the market temporary up, as issues timberlands and the sales of service quality and quarter. our model as hurricane to and location delivered helped well has related our overcome to well during
the we our and focused to improve of as acquisitions execute us The delivery track, market and stocking, operations. enhanced market us yields. and stronger market on opportunities, conditions now portfolio relationships until on catalyst our provide for will quarter augment will emphasis the these end integrating of focused Our supply successfully cushion to better. further year timberlands risk And, expanding this from on operations remain taking helping from be agreements fourth earnings per-acre opportunities local our advantage and a get over expected into for
much superior growth capital CatchMark, strategy, deliver and to and solid and actively it’s us industry. That providing remained committed pipeline compared for acquisitions see earnings helping institutional support remain practices in questions. for highest I will joint rest shareholders this do achieve sustainable objectives partners. potential of and for strategic for we acquisitions strategic the John, which our and present pursuing to making and Carolina At join value. given about productivity Brian, stockholders dividend. can Our And, we on Todd And, new Thanks V, rate building answer we morning. sustainable of we everything long-term identifying all fervently good CatchMark acquisitions, your dividend very are Georgia me with joining the and operations, now like ventures timberlands return to forest additional allocation management our supports Midlands coastal focused to durable help per-acre the for
