Rayonier Q2 adjusted net income, EBITDA beat estimates on wood products pricing, strong southern timber volumes

Rayonier

05/08/2026 21:33

Overview
U.S. timberland REIT's Q2 adjusted net income and adjusted EBITDA beat analyst expectations
Q2 adjusted EPS missed analyst expectations
Company repurchased $72.4 mln of shares during the quarter

Outlook
Rayonier expects Southern Timber harvest volumes of 12.2-12.5 mln tons for full-year 2026
Company sees Q3 Real Estate Adjusted EBITDA at $25-$35 mln, full-year at $180-$200 mln
Rayonier expects Q3 Wood Products lumber shipments of 320-330 mln board feet

Result Drivers
MERGER IMPACT - Full-quarter contribution from PotlatchDeltic operations drove higher harvest volumes and sales across segments
SOUTHERN TIMBER VOLUMES - Segment Adjusted EBITDA rose 85% as harvest volumes increased, offsetting lower average prices from expanded footprint and softer market conditions
WOOD PRODUCTS PRICING - Improved lumber price realizations amid import duties, mill curtailments, and trucking shortages supported segment results

Company press release: ID:nBwbd3vwRa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EPS
Miss
$0.10
$0.11 (5 Analysts)
Q2 EPS
 
$0.06
 
Q2 Adjusted Net Income
Beat
$31.50 mln
$29.52 mln (4 Analysts)
Q2 Net Income
 
$19.10 mln
 
Q2 Adjusted EBITDA
Beat
$123.70 mln
$120.37 mln (5 Analysts)
Q2 Operating Income
 
$34.60 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"
The average consensus recommendation for the specialized reits peer group is "buy"
Wall Street's median 12-month price target for Rayonier Inc. is $24.50, about 11.7% above its August 4 closing price of $21.93
The stock recently traded at 38 times the next 12-month earnings vs. a P/E of 37 three months ago

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Aug 3 - Boise Cascade Q2 sales beat estimates on BMD higher volumes, price increase

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.)