Feb 26, 2020 / 03:45PM GMT
John Plimpton Babcock - BofA Merrill Lynch, Research Division - Associate
All right. Good morning. So today, we have PotlatchDeltic, Mike Covey, Chairman and CEO; as well as Jerry Richards, the CFO. And we'll just basically go straight into Q&A here.
Questions and Answers:
John Plimpton Babcock - BofA Merrill Lynch, Research Division - AssociateSo I guess, starting out, if you could really just talk about 2019, and ultimately, what went better than expected? And also, what were some of the surprises coming out of the year?
Michael J. Covey - PotlatchDeltic Corporation - Chairman & CEO
For 2019?
John Plimpton Babcock - BofA Merrill Lynch, Research Division - Associate
Yes.
Michael J. Covey - PotlatchDeltic Corporation - Chairman & CEO
Well, the biggest surprise, by far, was really the collapse in lumber pricing from 2018 to 2019. Depending on how you measure it, lumber prices dropped from a peak of around $500 a