Earnings summaries and quarterly performance for RAYONIER.
Executive leadership at RAYONIER.
Mark McHugh
Detailed
President and Chief Executive Officer
CEO
April Tice
Detailed
Senior Vice President and Chief Financial Officer
Doug Long
Detailed
Executive Vice President and Chief Resource Officer
Eric Cremers
Detailed
Executive Chairman (effective upon merger closing)
Mark Bridwell
Detailed
Senior Vice President, General Counsel and Corporate Secretary
Rhett Rogers
Detailed
Senior Vice President, Portfolio Management
Board of directors at RAYONIER.
Research analysts who have asked questions during RAYONIER earnings calls.
Anthony Pettinari
Citigroup Inc.
3 questions for RYN
Also covers: AMBP, AMCR, AVY +26 more
Ketan Mamtora
BMO Capital Markets
3 questions for RYN
Also covers: ALH, AZEK, BCC +8 more
Mark Weintraub
Seaport Research Partners
3 questions for RYN
Also covers: GPK, IP, LPX +5 more
Matthew McKellar
RBC Capital Markets
3 questions for RYN
Also covers: CLW, IP, JHX +8 more
Michael Roxland
Truist Securities
2 questions for RYN
Also covers: AMBP, AMCR, AVY +16 more
Buck Horne
Raymond James Financial, Inc.
1 question for RYN
Also covers: CLPR, DHI, FPI +8 more
Gregory Andreopoulos
Citigroup
1 question for RYN
Also covers: MAS, PCH
Recent press releases and 8-K filings for RYN.
Rayonier Inc. Recasts 2024 Financials and Completes Asset Disposition Plan
RYN
Financial Restatement
Accounting Changes
M&A
- Rayonier Inc. is filing an 8-K to revise and recast certain financial and other information in its 2024 Annual Report on Form 10-K, primarily to reflect New Zealand operations as discontinued operations for all periods presented and a realignment of reportable business segments.
- The company completed its asset disposition and capital structure realignment plan on June 30, 2025, achieving $1.45 billion of dispositions in aggregate, which included the sale of its 77% interest in the New Zealand joint venture.
- As a result of this plan, Rayonier reduced its Net Debt / Adjusted EBITDA ratio to 2.6x as of December 31, 2024, successfully meeting its target of \u22643.0x.
- As of December 31, 2024, the company's credit ratings were "BBB-" from S&P and "Baa3" from Moody's, both maintaining a "Stable" outlook.
Nov 21, 2025, 9:14 PM
Rayonier Inc. Reports Strong Q3 2025 Financial Results and Improved Liquidity
RYN
Earnings
Revenue Acceleration/Inflection
M&A
- Rayonier Inc. reported strong financial results for Q3 2025, with sales increasing to $177.5 million, operating income reaching $41.7 million, and Adjusted EBITDA at $114.3 million, all showing significant growth compared to Q2 2025 and Q3 2024.
- The company's Net Income Attributable to Rayonier Inc. for Q3 2025 was $43.2 million, or $0.28 per diluted share. For the nine months ended September 30, 2025, Net Income was $454.2 million, which included a $404.4 million gain from the sale of its New Zealand joint venture interest on June 30, 2025.
- Liquidity significantly improved, with Cash Available for Distribution (CAD) increasing to $153.5 million for the nine months ended September 30, 2025, up from $77.1 million in the prior year period. Net Debt decreased to $130.4 million as of September 30, 2025, resulting in a Net Debt / Enterprise Value of 3%.
- The Real Estate segment was a key driver of performance, with its operating income rising to $26.4 million in Q3 2025 from $8.6 million in Q3 2024, and Adjusted EBITDA growing to $73.8 million from $19.9 million in the same period. This growth was significantly influenced by volume and non-cash cost of land and improved development.
Nov 6, 2025, 3:00 PM
Rayonier Reports Q3 2025 Results and Provides Guidance
RYN
Earnings
Guidance Update
M&A
- Rayonier reported Q3 2025 adjusted EBITDA of $114 million and pro forma net income of $50 million, or $0.32 per share.
- The company is on track to achieve full-year 2025 adjusted EBITDA and pro forma EPS at or above the higher end of its prior guidance range, driven by strong performance in its Real Estate segment, which generated $74 million in adjusted EBITDA in Q3.
- Rayonier provided Q4 2025 guidance including net income of $13-$17 million, EPS of $0.08-$0.11, and adjusted EBITDA of $50-$60 million.
- The proposed merger of equals with PotlatchDeltic, announced on October 14, is on track to close in late Q1 or early Q2 2026 and is expected to deliver $40 million of estimated run rate synergies.
- In Q3, Rayonier repurchased 1.2 million shares for $30 million and declared a $1.40 per share special dividend due to taxable gains from the New Zealand joint venture sale.
Nov 6, 2025, 3:00 PM
Rayonier Reports Strong Q3 2025 Results, Raises Full-Year Guidance, and Announces Merger
RYN
Earnings
Guidance Update
M&A
- Rayonier Inc. reported Q3 2025 net income attributable to Rayonier of $43.2 million ($0.28 per share) and Adjusted EBITDA of $114.3 million on revenues of $177.5 million.
- The company expects full-year Adjusted EBITDA and pro forma EPS to be at or above the higher end of its prior guidance range.
- On October 14, Rayonier announced a merger of equals with PotlatchDeltic, which is expected to close in late first quarter or early second quarter 2026.
- During the quarter, Rayonier repurchased 1,226,384 shares for $30.1 million at an average price of $24.55 per share.
Nov 5, 2025, 9:35 PM
Rayonier Reports Third Quarter 2025 Results and Announces Merger
RYN
Earnings
Guidance Update
M&A
Share Buyback
- Rayonier reported net income attributable to Rayonier of $43.2 million ($0.28 per share) and Adjusted EBITDA of $114.3 million for the third quarter of 2025. Pro forma net income for the quarter was $50.2 million ($0.32 per share).
- The company is on track to achieve full-year Adjusted EBITDA at or above the higher end of its prior guidance range. For the fourth quarter, Rayonier anticipates Adjusted EBITDA of $50 to $60 million and pro forma EPS of $0.11 to $0.14.
- On October 14, Rayonier announced a merger of equals with PotlatchDeltic, with the transaction expected to close in late first quarter or early second quarter 2026.
- During the third quarter, Rayonier repurchased 1,226,384 shares for $30.1 million, at an average price of $24.55 per share. The quarter ended with a cash balance of $919.6 million.
Nov 5, 2025, 9:12 PM
PotlatchDeltic Corporation Reports Third Quarter 2025 Results and Announces Merger with Rayonier Inc.
RYN
Earnings
M&A
Debt Issuance
- PotlatchDeltic Corporation reported revenues of $314.2 million, net income of $25.9 million, and adjusted net income of $27.8 million or $0.36 per diluted share for the third quarter ended September 30, 2025.
- The company entered into a definitive merger agreement with Rayonier Inc., a transaction expected to close in late first quarter or early second quarter 2026.
- During Q3 2025, PotlatchDeltic refinanced $100 million of maturing debt and maintained strong liquidity of $388 million as of September 30, 2025.
- The Real Estate segment's Adjusted EBITDDA increased by $40.4 million compared to Q2 2025, driven by the sale of 15,636 acres of rural land at an average price of $3,280 per acre.
Nov 3, 2025, 9:10 PM
Rayonier and PotlatchDeltic Announce Merger of Equals
RYN
M&A
Dividends
Management Change
- Rayonier and PotlatchDeltic announced an all-stock merger of equals transaction, where PotlatchDeltic shareholders will receive 1.7339 shares in Rayonier for each PotlatchDeltic share, representing an 8.25% premium to PotlatchDeltic based on October 10 closing prices.
- The combined company will own nearly 4.2 million acres of timberlands across 11 states and have 1.2 billion board feet of lumber capacity and 150 million square feet of plywood capacity.
- The merger is expected to close in late first quarter or early second quarter of 2026 and is anticipated to generate $40 million in annual synergies, primarily from corporate and operational cost optimization. The combined company will be headquartered in Atlanta, Georgia.
- Eric Cremers will serve as Executive Chair of the Board, Mark McHugh as President and CEO, and Wayne Waisanen as CFO of the combined company. The combined company plans to maintain Rayonier's current quarterly dividend level, and a $1.40 per share special dividend will be paid to Rayonier shareholders in December.
Oct 14, 2025, 12:30 PM
Rayonier and PotlatchDeltic Announce Merger of Equals
RYN
M&A
Dividends
Board Change
- Rayonier and PotlatchDeltic announced an all-stock merger of equals to form a leading land resources REIT.
- The transaction is anticipated to close in late first quarter or early second quarter of 2026.
- The combined entity is expected to achieve $40 million in estimated annual run-rate synergies and will have a pro forma market capitalization of approximately $7.1 billion.
- PotlatchDeltic shareholders will receive 1.7339x shares in Rayonier for each share held, leading to Rayonier shareholders owning 54% and PotlatchDeltic shareholders owning 46% of the combined company.
- Eric Cremers (PotlatchDeltic's CEO) will become Executive Chair, and Mark McHugh (Rayonier's President & CEO) will be President & CEO of the new company, which will be headquartered in Atlanta, Georgia.
Oct 14, 2025, 12:30 PM
Rayonier and PotlatchDeltic Announce All-Stock Merger of Equals
RYN
M&A
Dividends
New Projects/Investments
- Rayonier and PotlatchDeltic have entered into a definitive agreement for an all-stock merger of equals, which is expected to result in a combined company with a pro forma equity market capitalization of $7.1 billion and a total enterprise value of $8.2 billion, including $1.1 billion of net debt. Upon closing, Rayonier shareholders will own approximately 54% and PotlatchDeltic shareholders approximately 46% of the combined entity.
- The merger is anticipated to generate $40 million in annual run-rate synergies and will create the second-largest publicly traded timber and wood products company in North America. The combined company will manage approximately 4.2 million acres of timberland and operate with a lumber capacity of 1.2 billion board feet.
- The transaction is expected to close in late first quarter or early second quarter of 2026. Additionally, Rayonier declared a special dividend of $1.40 per share, and PotlatchDeltic shareholders will receive adjusted merger consideration to account for this dividend.
Oct 14, 2025, 10:00 AM
Quarterly earnings call transcripts for RAYONIER.
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