Rayonier (RYN) reported $173.6 million in revenue for the quarter ended June 2024, representing a year-overyear decline of 16.9%. EPS of $0.02 for the same period compares to $0.05 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $224.86 million, representing a surprise of -22.80%. The company delivered an EPS surprise of -85.71%, with the consensus EPS estimate being $0.14. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ho ...

News Release RAYONIER REPORTS SECOND QUARTER 2024 RESULTS • Second quarter net income attributable to Rayonier of $1.9 million ($0.01 per share) on revenues of $173.6 million • Second quarter pro forma net income of $3.7 million ($0.02 per share) • Second quarter operating income of $12.4 million, pro forma operating income of $13.1 million, and Adjusted EBITDA of $55.7 million • Year-to-date cash provided by operations of $107.6 million and cash available for distribution (CAD) of $59.6 million WILDLIGHT, ...

Analysts on Wall Street project that Rayonier (RYN) will announce quarterly earnings of $0.14 per share in its forthcoming report, representing an increase of 180% year over year. Revenues are projected to reach $224.86 million, increasing 7.6% from the same quarter last year. Over the last 30 days, there has been a downward revision of 7.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts ...

Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising th ...

NEW YORK, May 16, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Rayonier Advanced Materials Inc. ("Rayonier" or the "Company") (NYSE: RYAM). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether Rayonier and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On April ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to RAYONIER INC. (Exact name of registrant as specified in its charter) North Carolina 1-6780 13-2607329 (State or other Jurisdiction of inc ...

Financial Data and Key Metrics Changes - The company generated adjusted EBITDA of $56 million in the first quarter, slightly up from $55 million in the prior year period [18] - Pro forma net income was $7 million or $0.05 per share, with pro forma items including a $4.5 million pension settlement charge [6][14] - Cash available for distribution (CAD) for the first quarter was $37 million, compared to $30 million in the prior year period [7] Business Line Data and Key Metrics Changes - Southern Timber segment adjusted EBITDA was $45 million, up $2 million or 5% from the prior year, driven by a 6% increase in harvest volumes [4][9] - Pacific Northwest Timber segment adjusted EBITDA was $5 million, down $2 million from the prior year, due to a 17% reduction in harvest volumes and an 11% decline in weighted average log prices [4][19] - New Zealand Timber segment adjusted EBITDA was $11 million, an increase of $5 million from the prior year, primarily due to higher carbon credit sales [20][22] Market Data and Key Metrics Changes - Average delivered export sawtimber prices in New Zealand declined 4% compared to the prior year, constrained by ongoing challenges in China's property sector [21] - Pulpwood pricing in the U.S. South remained stable, with improved end market demand translating into stable pricing [10][19] - Weighted average stumpage prices fell 4% year-over-year to approximately $23 per ton, driven by a shift in geographic mix towards lower-priced areas [127] Company Strategy and Development Direction - The company is evaluating strategic alternatives for its New Zealand joint venture interest and has engaged a financial adviser for this process [5] - The company aims to achieve a $1 billion disposition target, actively marketing approximately 115,000 acres in Washington State and identifying 100,000 acres in the U.S. South for potential sale [135][70] - The company is focused on expanding its land-based solutions, with 33,000 acres under option for solar development, up from 27,000 acres at the end of 2023 [31][48] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improving fundamentals in timber segments due to favorable dynamics in single-family housing and lower log inventories in China [40] - The company anticipates achieving its full-year adjusted EBITDA guidance of $290 million to $325 million, excluding potential impacts from asset sales [15][26] - Management noted that while there is some weakness in Southern Yellow Pine lumber pricing, they expect this discount to narrow over time, leading to improved demand and pricing for sawtimber [106][108] Other Important Information - The company reported a strong balance sheet with a net debt to enterprise value of 19% and plans to use cash on hand to pay down $150 million of debt [125] - Non-timber income in New Zealand increased by $3 million year-over-year, reflecting higher carbon credit sales [23] Q&A Session Summary Question: Can you talk about the progress on the land-based solutions side? - Management indicated that they are building out their pipeline for land-based solutions, particularly in carbon capture and solar, with a focus on high-quality counterparties [42][46] Question: How are you evaluating strategic options for the New Zealand business? - The company is assessing various options to reach its $1 billion disposition target, including potentially exiting its position in New Zealand [68][70] Question: What are your expectations for carbon credit prices in New Zealand? - Management noted that while prices have trended lower recently, they remain relatively strong from a historical perspective, and the regulatory backdrop has stabilized [71][82] Question: What is the outlook for Southern Yellow Pine pricing? - Management believes the current discount for Southern Yellow Pine compared to other species will eventually correct, driven by increased demand and supply dynamics [105][108]

Exhibit 99.1 News Release RAYONIER REPORTS FIRST QUARTER 2024 RESULTS WILDLIGHT, FL — May 1, 2024 — Rayonier Inc. (NYSE:RYN) today reported first quarter net income attributable to Rayonier of $1.4 million, or $0.01 per share, on revenues of $168.1 million. This compares to net income attributable to Rayonier of $8.3 million, or $0.06 per share, on revenues of $179.1 million in the prior year quarter. The first quarter results included $1.3 million of net costs associated with legal settlements and a $4.5 m ...

Timberland Holdings and Inventory - As of December 31, 2023, Rayonier owned, leased, or managed approximately 2.7 million acres of timberland and real estate, with 1.85 million acres in the U.S. South, 418,000 acres in the U.S. Pacific Northwest, and 421,000 gross acres in New Zealand[27]. - The company reported a merchantable timber inventory of 101,943 thousand short green tons, with 74,685 thousand SGT in the South (73%), 9,541 thousand SGT in the Pacific Northwest (9%), and 17,717 thousand SGT in New Zealand (18%) as of September 30, 2023[41]. - Rayonier's timberland portfolio is positioned to provide land-based solutions for a low-carbon economy, including solar farms, carbon capture, and storage, with existing leases in place[31]. - Rayonier's sustainable yield is estimated based on biological growth and productivity from reforestation efforts, with adjustments made for environmental laws and timberland acquisitions[42]. - As of December 31, 2023, the Southern timberlands acreage consisted of approximately 1.85 million acres, with an estimated sustainable yield of 6.8 to 7.2 million tons annually[44][45]. - The gross timber inventory of Southern timberlands was estimated at 89 million tons, with a merchantable timber inventory of 75 million tons as of September 30, 2023[46]. - The Pacific Northwest timberlands comprised approximately 418,000 acres, with a sustainable yield estimated at 160 to 185 MMBF (1.25 to 1.45 million tons) annually[48][49]. - The gross timber inventory for Pacific Northwest timberlands was estimated at 2,388 MMBF, with a merchantable timber inventory of 1,231 MMBF as of September 30, 2023[51]. - The New Zealand timberlands consisted of approximately 421,000 acres, with a sustainable yield estimated at 2.1 to 2.4 million cubic meters (2.4 to 2.7 million tons) annually[53][55]. - The gross timber inventory for New Zealand timberlands was estimated at 15.9 million cubic meters as of December 31, 2023[56]. Acquisitions and Dispositions - Rayonier completed the acquisition of Pope Resources on May 8, 2020, enhancing its timberland portfolio[28]. - In 2023, the company acquired approximately 3,500 acres of timberland in the Southern region[46]. - In 2023, the company acquired approximately 400 acres of timberlands in the Pacific Northwest and completed a 55,000-acre disposition in Oregon for $242.2 million[50]. - The company closed on a 55,000-acre Large Disposition to Manulife Investment Management for $242.2 million, representing approximately 23% of consolidated sales[75]. - Rayonier's timberland acquisitions in 2023 totaled 3,000 acres, while sales amounted to 85,000 acres, resulting in a net decrease of 82,000 acres in owned timberlands[159]. - The company sold a total of 85,618 acres in 2023, compared to 28,323 acres in 2022, marking an increase of 202.5%[220]. Financial Performance - Total sales for 2023 reached $1,056.9 million, a 16.2% increase from $909.1 million in 2022, but a decrease of 4.7% compared to $1,109.6 million in 2021[208]. - Net income attributable to Rayonier, L.P. for 2023 was $176.4 million, up 60.9% from $109.5 million in 2022, but down 10.5% from $157.1 million in 2021[208]. - Adjusted EBITDA for 2023 was $296.5 million, a decrease of 5.5% from $314.2 million in 2022 and a decrease of 10.1% from $329.8 million in 2021[208]. - The company reported operating income of $156.6 million in 2023, significantly higher than $58.5 million in 2022, representing an increase of 167.8%[220]. - Interest expense rose to $48.3 million in 2023 from $36.2 million in 2022, indicating increased borrowing costs[208]. - The company reported cash dividends of $1.34 per common share for the year ended December 31, 2023, an increase from $1.125 in 2022, representing a growth of 18.7%[172]. Real Estate Development - The company has a multi-year pipeline of real estate development opportunities primarily in Florida, Georgia, and Washington, focusing on rural and recreational high and better use properties[31]. - The company's Real Estate segment includes sales reported in categories such as Improved Development, Unimproved Development, and Large Dispositions[63]. - The Real Estate segment's improved development projects, such as Wildlight and Heartwood, continue to benefit from favorable migration trends despite higher interest rates[195]. - The company faces challenges in selling HBU properties at attractive prices, which could significantly affect operational results[115]. Environmental and Regulatory Considerations - The company is committed to responsible stewardship and transparent disclosure regarding its timberland holdings, harvest schedules, and carbon footprint[33]. - Environmental laws and regulations are becoming more restrictive, potentially affecting the ability to harvest and sell timber and entitle real estate[127]. - The company faces potential liabilities and increased costs related to environmental, social, and governance considerations, which could adversely affect its business and reputation[150]. - Rayonier's New Zealand subsidiary held 2,368,301 NZUs as of December 31, 2023, related to carbon credits from net carbon sequestered between 2008 and 2018[59]. Employee and Safety Initiatives - Rayonier achieved zero fatalities or significant incidents in workplace safety for 2023, emphasizing a strong safety culture[103]. - The company had 438 employees as of December 31, 2023, with 341 in the U.S. and 97 in New Zealand, reflecting its commitment to an inclusive workforce[108]. - Rayonier's employee wellness program, Stay Strong, focuses on health, financial wellness, work-life balance, and emotional health[106]. - The company emphasizes employee development through training programs, tuition reimbursement, and cross-functional assignments[102]. Market Conditions and Risks - Economic risks include potential impacts from inflation, labor costs, and energy prices, which could adversely affect financial performance[113]. - The cyclicality of timber markets is influenced by residential construction activity and demand fluctuations in related industries[114]. - The ongoing geopolitical tensions may disrupt shipping and affect the cost and availability of ocean freight providers[118]. - Rayonier relies on estimates of timber inventories and growth rates, which are inherently uncertain and could impair revenue realization if inaccurate[126]. Cybersecurity and Compliance - The company has experienced targeted and non-targeted cybersecurity attacks, but no incidents have materially affected its operations or financial condition to date[153]. - Rayonier's cybersecurity strategy includes incident response planning, third-party monitoring, and continuous improvement to safeguard operations against cyber threats[153]. - The Audit Committee receives regular updates on cybersecurity metrics, including threat detection rates and response times, to ensure proactive oversight of cybersecurity risks[155]. - Rayonier is in compliance with REIT asset tests, with at least 75% of total assets consisting of REIT-qualifying interests in real property as of December 31, 2023[137].

Rayonier Inc. (NYSE:RYN) Q4 2023 Earnings Conference Call February 1, 2024 10:00 AM ET Company Participants Collin Mings - Vice President, Capital Markets and Strategic Planning David Nunes - CEO Mark McHugh - President and Chief Financial Officer Douglas Long - Executive VP and Chief Resource Officer Conference Call Participants Ketan Mamtora - BMO Capital Markets Buck Horne - Raymond James Operator Welcome, and thank you for joining Rayonier's Fourth Quarter and Full Year Teleconference Call. [Operator In ...