📈 Price History

Ratio Health

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By Category

📊 Sector Averages

About

Rayonier Inc. is a land resources real estate investment trust (REIT) with a portfolio comprising over four million acres in the U.S. South and U.S. Northwest. The company is focused on managing its timberlands on a sustainable basis while optimizing its overall portfolio value by delivering land to its highest and best use. Rayonier also operates six sawmills, an industrial-grade plywood mill, residential and commercial real estate developments, and a rural land sales program. Rayonier is committed to corporate responsibility, third-party forest certification, and supporting climate change mitigation through its land-based solutions business. Rayonier Inc. was established in 1926 and was incorporated in North Carolina.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding RYN

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	1.02M	$21.1M	0.03%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management expressed optimism about second half tailwinds from Canadian duties and reduced salvage volume, and provided specific adjusted EBITDA guidance range of $215M-$235M. They highlighted significant progress on asset disposition plan exceeding $1B target and gave detailed segment-level forecasts.

Q3 2025

Confident Specific

Management used specific figures (e.g., adjusted EBITDA of $114 million, up from $57 million) and gave precise guidance ranges, while expressing confidence in the merger and long-term value creation, despite acknowledging timber market headwinds.

Q4 2025

Confident Specific

Management highlights record real estate EBITDA ($127M) exceeding guidance, merger closing ahead of schedule, and specific 2026 harvest volume and real estate EBITDA guidance. Yet also acknowledges 'challenging market conditions' and 'headwinds' in pulpwood and lumber, balancing optimism with concrete numbers.

Q1 2026 latest

Confident Specific

Management led with strong merger integration progress and synergy targets, provided specific financial figures and segment guidance, acknowledged challenges (pulpwood, wildfires, lumber moderation) but framed them as transitory or manageable, e.g., 'do not currently expect the fires to have a significant financial or operational impact', 'we are optimistic' about lumber pricing, and gave explicit volume and pricing forecasts.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call due to clear progress on merger integration, synergy realization, and strong Real Estate momentum (notably the solar land sale at a premium). The improved lumber pricing environment, if sustained, could boost both Wood Products and Northwest Timber segments. However, near-term headwinds from pulpwood weakness, recent lumber price moderation, and the forest fire impact (though deemed immaterial) warrant caution. Next quarter, key watch items include: (1) lumber price trajectory and its effect on Wood Products EBITDA, (2) Real Estate transaction volume and pricing, particularly solar land deals, and (3) pace of synergy realization toward the $40M annual run-rate target.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED Rayonier Q1 adjusted EBITDA $94M; merger integration on track

Revenue & Profitability

For Q1 2026, Rayonier reported a GAAP loss of $12 million ($0.05 per share) and adjusted net income of $17 million ($0.07 per share). Adjusted EBITDA was $94 million, up from $27 million in the prior year period. Cash available for distribution (CAD) was $90 million versus $20 million a year ago. Real estate revenue totaled $60 million on 7,700 acres sold at an average price of $7,300 per acre.

Outlook

Management remains optimistic about long-term fundamentals due to the structural deficit in U.S. housing and the positive trajectory of the Real Estate business. However, near-term headwinds include pulpwood pricing pressure from mill closures, hurricane salvage activity, and dry weather conditions. Lumber prices improved in Q1 but have moderated recently amid more balanced supply-demand dynamics. Tariffs on Canadian lumber (preliminary all-in burden ~35%) are expected to support U.S. producers and shift production to domestic mills.

Growth Drivers

Key growth levers include solar land sales and leases (80,000 acres under option, with 35,000 acres set to mature by end of 2028). Data center developer interest is an incremental opportunity, with several parcels identified for marketing. The Real Estate segment is expected to generate full-year adjusted EBITDA of $180 million-$200 million. Wood Products segment expects higher Q2 EBITDA based on quarter-to-date price realizations of $505 per thousand board feet.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Margins were impacted by pulpwood pricing pressure in Southern Timber due to increased supply and weaker demand. However, the merger is expected to drive meaningful overhead cost savings over time. In Wood Products, average lumber price realizations rebounded 11% from Q4 2025 to $437 per MBF in Q1 2026. No specific margin metrics were provided.

Key Risks

Key risks include pulpwood demand weakness from mill closures and maintenance downtime, compounded by historically dry weather conditions that increased supply. Recent forest fires in the U.S. South damaged approximately 10,000 acres, primarily in Georgia, though management does not expect significant financial impact. Lumber price volatility and sensitivity to macroeconomic conditions remain risks. Some land-based solution opportunities have been slower to materialize than anticipated.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-06

Q2 results showed strong Adjusted EBITDA growth across all segments, driven by the PotlatchDeltic merger and portfolio optimization. Share repurchases accelerated, leverage remained conservative, and guidance was reaffirmed, with stable pricing and robust demand in timber, wood products, and real estate.

Q1 2026 Q1 2026 2026-05-07

Q1 results reflect strong post-merger performance, with adjusted EBITDA up sharply year-over-year and robust Real Estate and Wood Products contributions. Guidance remains positive, with synergy targets on track and a strong pipeline in solar and rural land sales.

Q4 2025 Q4 2025 2026-02-12

Completed merger with PotlatchDeltic, driving record real estate results and 8% higher Adjusted EBITDA in 2025. 2026 guidance anticipates higher timber harvests, strong real estate momentum, and $40M in targeted synergies, with share buybacks prioritized for capital allocation.

Q3 2025 Q3 2025 2025-11-06

Q3 adjusted EBITDA doubled year-over-year to $114 million, led by real estate and southern timber, while a major merger with PotlatchDeltic is on track for early 2026. Full-year guidance was raised, and a special dividend was declared following a large conservation sale.

Q2 2025 Q2 2025 2025-08-07

Q2 adjusted EBITDA rose 35% year-over-year to $45 million, driven by strong Pacific Northwest Timber and Real Estate segments, while the $710 million New Zealand sale exceeded asset disposition targets. Outlook remains positive for H2, with robust capital allocation plans and continued share repurchases.

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