Overview
U.S. timberland REIT's Q1 adjusted EPS, net income, and EBITDA beat analyst expectations
Company posted GAAP net loss due to merger costs with PotlatchDeltic
Repurchased $31.1 mln of shares during the quarter
Outlook
Rayonier expects 2026 Southern Timber harvest volumes of 12.1-12.6 mln tons
Company sees 2026 Real Estate Adjusted EBITDA of $180-$200 mln
Rayonier expects Q2 Wood Products Adjusted EBITDA to be higher than Q1
Result Drivers
MERGER WITH POTLATCHDELTIC - Higher harvest volumes and revenues in Southern and Northwest Timber segments driven by addition of PotlatchDeltic timberlands
WOOD PRODUCTS SEGMENT - Higher lumber prices and stable manufacturing costs supported Wood Products results, though shipments were impacted by adverse weather
REAL ESTATE SALES - Increased acres sold, including a large sale to a solar developer, drove higher Real Estate segment sales and EBITDA
Company press release: ID:nBw9WXhkqa
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Beat
$0.07
-$0.54 (3 Analysts)
Q1 EPS
-$0.05
Q1 Adjusted Net Income
Beat
$17.40 mln
$10.56 mln (3 Analysts)
Q1 Net Income
-$12.40 mln
Q1 Adjusted EBITDA
Beat
$94.10 mln
$85.14 mln (3 Analysts)
Q1 Operating Income
-$45.70 mln
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for Rayonier Inc is $25.00, about 20.8% above its May 5 closing price of $20.70
The stock recently traded at 36 times the next 12-month earnings vs. a P/E of 45 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)