Pope Resources reported consolidated earnings results for the third quarter ended September 30, 2018. For the quarter, the company reported revenue of $28.0 million against $18.8 million a year ago. Operating income was $4.1 million against $1.8 million a year ago. Net income was $2.7 million against $0.6 million a year ago. Net income attributable to unitholders was $2.6 million against $1.7 million a year ago. Basic and diluted earnings per unit were $0.60 against $0.38 a year ago. Net cash provided by operating activities was $11.6 million against $1.8 million a year ago. Adjusted EBITDDA was $11.3 million against $6.2 million a year ago. Look-through Adjusted EBITDDA was $5.3 million against $3.7 million a year ago.

The company expects 2018 harvest volume will range between 57-59 MMBF for the Partnership, and 72-75 MMBF for the Funds, including timber deed sales. The 57-59 MMBF for the Partnership includes 5-7 MMBF of volume from timber located on real estate properties and recent small-tract acquisitions that is not factored into its long-term, sustainable harvest plan of 52 MMBF. On a look-through basis, total 2018 harvest volume, including timber deed sales, is expected to be 65-68 MMBF.