Pope Resources announced consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenue of $25.0 million compared to $17.3 million a year ago. Operating income was $6.9 million compared to $12.6 million a year ago. Net income attributable to unitholders was $5.7 million or $1.31 per basic and diluted per unit compared to $3.4 million or $0.77 per basic and diluted per unit a year ago. Net cash provided by operating activities was $10.7 million compared to $2.7 million a year ago. Adjusted EBITDDA was $11.7 million compared to $5.2 million a year ago.

The company expects total 2018 harvest volume to be approximately 66 MMBF for the Partnership, and approximately 76 MMBF for the Funds, including timber deed sales. The 66 MMBF for the Partnership includes 14 MMBF of volume from timber located on real estate properties and recent small-tract acquisitions that is not factored into long-term, sustainable harvest plan. On a look-through basis, total 2018 harvest volume including timber deed sales is expected to be 75 MMBF.