Earnings summaries and quarterly performance for RAYONIER.
Executive leadership at RAYONIER.
Mark McHugh
Detailed
President and Chief Executive Officer
CEO
AT
April Tice
Detailed
Senior Vice President and Chief Financial Officer
DL
Doug Long
Detailed
Executive Vice President and Chief Resource Officer
EC
Eric Cremers
Detailed
Executive Chairman (effective upon merger closing)
MB
Mark Bridwell
Detailed
Senior Vice President, General Counsel and Corporate Secretary
RR
Rhett Rogers
Detailed
Senior Vice President, Portfolio Management
Board of directors at RAYONIER.
Research analysts who have asked questions during RAYONIER earnings calls.
AP
Anthony Pettinari
Citigroup Inc.
5 questions for RYN
Also covers: AMBP, AMCR, AVY +26 more
KM
Ketan Mamtora
BMO Capital Markets
5 questions for RYN
Also covers: ALH, AZEK, BCC +8 more
MW
Mark Weintraub
Seaport Research Partners
5 questions for RYN
Also covers: GPK, IP, LPX +5 more
BH
Buck Horne
Raymond James Financial, Inc.
3 questions for RYN
Also covers: AMH, CLPR, DHI +9 more
Matthew McKellar
RBC Capital Markets
3 questions for RYN
Also covers: CLW, IP, JHX +8 more
MR
Michael Roxland
Truist Securities
2 questions for RYN
Also covers: AMBP, AMCR, AVY +16 more
GA
Gregory Andreopoulos
Citigroup
1 question for RYN
Also covers: MAS, PCH
Recent press releases and 8-K filings for RYN.
Rayonier Reports Q4 and Full-Year 2025 Results, Provides 2026 Outlook, and Updates on PotlatchDeltic Merger
RYN
Earnings
M&A
Guidance Update
- Rayonier's transformative merger of equals with PotlatchDeltic successfully closed on January 30th, with a new company name and ticker symbol anticipated in Q1.
- For Q4 2025, the company reported Adjusted EBITDA of $62 million and pro forma net income of $32 million, or $0.20 per share. Full-year 2025 Adjusted EBITDA reached $248 million, an 8% increase over 2024 and exceeding prior guidance.
- The Real Estate segment delivered a record full-year Adjusted EBITDA of $127 million in 2025 , and is projected to contribute $180-$200 million in Adjusted EBITDA for the full year 2026.
- The combined company expects to achieve $20 million in run-rate synergies in the first year following the merger, with a target of $40 million by the end of year two.
- Rayonier ended 2025 with $843 million in cash and $1.1 billion in debt , and plans to continue share repurchases, with $230 million remaining on authorization.
Feb 12, 2026, 3:00 PM
Rayonier Reports Q4 and Full Year 2025 Financial Results
RYN
Earnings
M&A
- For Q4 2025, Rayonier reported Sales of $117.5 million, Net Income Attributable to Rayonier Inc. of $25.9 million, and Diluted Earnings Per Share of $0.16. The company's Adjusted EBITDA for the quarter was $61.7 million.
- For the full year ended December 31, 2025, Cash provided by Operating Activities was $256.7 million, and Cash Available for Distribution (CAD) was $198.6 million.
- As of December 31, 2025, Rayonier maintained a strong liquidity position with $842.9 million in cash and Net Debt of $207.1 million, resulting in a Net Debt / Enterprise Value of 6%.
- The company completed the sale of its 77% New Zealand joint venture interest on June 30, 2025, with the results reflected as Discontinued Operations.
- Rayonier's definitive merger agreement with PotlatchDeltic closed on January 30, 2026.
Feb 12, 2026, 3:00 PM
Rayonier Completes Merger with PotlatchDeltic, Reports Q4 and Full-Year 2025 Results, and Provides 2026 Outlook
RYN
M&A
Earnings
Guidance Update
- Rayonier successfully completed its merger of equals with PotlatchDeltic on January 30, 2026, creating a premier land resources company with a diversified timberland portfolio spanning over 4 million acres. A new company name and ticker symbol are expected in the first quarter of 2026.
- For Q4 2025, the company reported Adjusted EBITDA of $62 million and pro forma net income of $32 million or $0.20 per share. Full-year 2025 Adjusted EBITDA reached $248 million, an 8% increase over 2024 and exceeding prior guidance.
- The Real Estate segment delivered a record $127 million in Adjusted EBITDA for full-year 2025. For 2026, the company expects Real Estate Adjusted EBITDA to be between $180 million and $200 million, with $30-$35 million anticipated in Q1 2026.
- The merger is expected to generate $40 million in run-rate synergies by the end of year two, with $20 million expected in year one.
- Rayonier ended 2025 with $843 million in cash and $1.1 billion in debt. Post-merger, pro forma net debt is expected to be in the range of $1.3-$1.4 billion, and the company views share buybacks as a compelling use of capital, with $230 million remaining on its authorization.
Feb 12, 2026, 3:00 PM
Rayonier Completes Merger with PotlatchDeltic, Reports Q4 and Full-Year 2025 Results, and Provides 2026 Outlook
RYN
M&A
Earnings
Guidance Update
- Rayonier successfully completed its transformative merger of equals with PotlatchDeltic on January 30th, 2026, creating a premier land resources company with over 4 million acres. A new company name and ticker symbol are expected to be announced later in the first quarter.
- For Q4 2025, Rayonier reported Adjusted EBITDA of $62 million and pro forma net income of $32 million or $0.20 per share. Full-year 2025 Adjusted EBITDA reached $248 million, an 8% increase over 2024, primarily driven by a record $127 million contribution from the Real Estate segment.
- The combined company's 2026 outlook includes Southern Timber harvest volumes of 12.1-12.6 million tons and Northwest Timber harvest volumes of 2-2.3 million tons. The Real Estate segment is projected to contribute $180-$200 million in Adjusted EBITDA for the full year.
- Post-merger, pro forma net debt is expected to be in the range of $1.3-$1.4 billion, comfortably within the 3x net debt to mid-cycle EBITDA leverage target. Share buybacks are considered a compelling use of capital, with $230 million remaining on the authorization. The company anticipates achieving $20 million in run-rate synergies in the first year, targeting $40 million by the end of year two.
Feb 12, 2026, 3:00 PM
Rayonier Reports Fourth Quarter and Full-Year 2025 Results, Completes Merger
RYN
Earnings
M&A
Dividends
- Rayonier reported Q4 2025 net income attributable to Rayonier of $25.9 million ($0.16 per share) and full-year 2025 net income of $474.4 million ($3.03 per share).
- The company achieved Adjusted EBITDA of $61.7 million for Q4 2025 and $248.0 million for full-year 2025, representing an 8% increase over 2024, with the Real Estate segment contributing a record $127.1 million to full-year Adjusted EBITDA.
- Rayonier successfully completed its merger of equals with PotlatchDeltic on January 30, 2026, and since November 2023, returned over $235 million of capital to shareholders through special cash dividends and share repurchases, while reducing Net Debt to 2025 Adjusted EBITDA to 0.8x by year-end.
Feb 11, 2026, 9:13 PM
Rayonier Reports Fourth Quarter and Full-Year 2025 Results, Completes Merger with PotlatchDeltic
RYN
Earnings
M&A
Guidance Update
- Rayonier reported fourth quarter 2025 net income of $25.9 million ($0.16 per share) and Adjusted EBITDA of $61.7 million. For the full year 2025, net income was $474.4 million ($3.03 per share) and Adjusted EBITDA reached $248.0 million, an 8% increase over 2024.
- The company successfully completed its merger of equals with PotlatchDeltic on January 30, 2026, creating a leading land resources REIT.
- Rayonier returned over $235 million of capital to shareholders since November 2023 through special cash dividends and share repurchases, while reducing its Net Debt to 2025 Adjusted EBITDA to 0.8x as of year-end.
- For full-year 2025, cash provided by operating activities was $256.7 million and Cash Available for Distribution (CAD) was $198.6 million.
- The Real Estate segment is expected to contribute Adjusted EBITDA of $30 to $35 million in Q1 2026 and $180 to $200 million for the full-year 2026.
Feb 11, 2026, 9:12 PM
Rayonier Inc. Enters Second Amended and Restated Credit Agreement
RYN
Debt Issuance
Financial Obligation
- Rayonier Inc. and its subsidiaries, including Rayonier, L.P., PotlatchDeltic Forest Holdings, LLC, and PotlatchDeltic Land & Lumber, LLC, entered into a Second Amended and Restated Credit Agreement on January 30, 2026.
- The agreement establishes maturity dates for various credit facilities, with the Revolving Credit Facility maturing on August 15, 2030, and other term loan facilities maturing between April 28, 2026, and June 1, 2029.
- The pricing for advances and fees under the agreement is structured into four levels based on the company's Leverage Ratio, affecting rates for Term SOFR Rate Advances, Daily Simple SOFR Rate Advances, Alternate Base Rate Advances, and Unused Commitment Fees.
- As part of the agreement, Rayonier Inc. is covenanted to maintain corporate credit ratings from at least two major agencies (Moody's, Fitch, S&P), its NYSE listing, and its REIT status.
Feb 3, 2026, 2:29 PM
Rayonier and PotlatchDeltic Announce Merger Closing
RYN
M&A
Board Change
Management Change
- Rayonier and PotlatchDeltic Corporation have announced the closing of their merger of equals.
- The combined company now owns over four million acres of geographically diverse timberland in the United States and operates six sawmills, an industrial-grade plywood mill, residential and commercial real estate developments, and a rural land sales program.
- The new senior leadership team includes Mark D. McHugh as President and Chief Executive Officer, and the Board of Directors consists of five legacy directors from each company, with Eric J. Cremers serving as Executive Chairman.
- The combined company will initially retain the Rayonier name and its common stock will trade on the New York Stock Exchange under the ticker symbol RYN starting on February 2, 2026, with a new name and ticker symbol expected later in the first quarter of 2026.
Jan 30, 2026, 10:30 PM
Rayonier and PotlatchDeltic Stockholders Approve Merger
RYN
M&A
Proxy Vote Outcomes
- Rayonier and PotlatchDeltic announced that their respective stockholders have approved all proposals necessary to close their previously announced merger.
- The merger is expected to be completed after market close on January 30, 2026.
- Upon completion, each share of PotlatchDeltic common stock will be converted into the right to receive 1.8185 Rayonier common shares and $0.61 in cash.
- Rayonier shareholders are expected to own approximately 54% of the combined company, with former PotlatchDeltic stockholders owning the remaining 46%.
- The combined company will initially retain the Rayonier name and its common stock will trade under the ticker symbol "RYN" on the New York Stock Exchange, with a new name and ticker symbol intended to be announced later in the first quarter of 2026.
Jan 27, 2026, 9:12 PM
Rayonier and PotlatchDeltic Stockholders Approve Merger
RYN
M&A
Proxy Vote Outcomes
- Rayonier and PotlatchDeltic stockholders have approved all proposals necessary to close their previously announced merger.
- The merger is expected to close after market close on January 30, 2026.
- Upon completion, each share of PotlatchDeltic common stock will be converted into 1.8185 Rayonier common shares and $0.61 in cash.
- Rayonier shareholders are expected to own approximately 54% of the combined company, with former PotlatchDeltic stockholders owning the remaining 46%.
Jan 27, 2026, 9:05 PM
Quarterly earnings call transcripts for RAYONIER.
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