Financial Performance - Rayonier Inc. reported sales of $194.993 million for the three months ended September 30, 2024, a decrease of 3% from $201.579 million in the same period of 2023[12]. - Operating income for the three months ended September 30, 2024, was $27.606 million, down 22% from $35.356 million in the prior year[12]. - Net income attributable to Rayonier Inc. for the three months ended September 30, 2024, was $28.758 million, an increase of 50% compared to $19.237 million in the same period of 2023[12]. - Comprehensive income attributable to Rayonier Inc. for the three months ended September 30, 2024, was $24.563 million, compared to $22.429 million in the same period of 2023[12]. - The company reported basic earnings per share of $0.19 for the three months ended September 30, 2024, compared to $0.13 in the same period of 2023[12]. - Net income for the second quarter of 2024 was $30,442, reflecting an increase from the previous quarter's net income of $3,035[17]. - Net income for the nine months ended September 30, 2024, was $35,783, a decrease of 27.4% compared to $49,274 in 2023[33]. - Adjusted EBITDA for the three months ended September 30, 2024, was $71.8 million, a decrease of 9.0% from $78.9 million in Q3 2023[149]. Assets and Liabilities - Total assets as of September 30, 2024, were $3.479 billion, a decrease from $3.648 billion as of December 31, 2023[14]. - Current liabilities decreased slightly to $139.462 million as of September 30, 2024, from $140.277 million at the end of 2023[14]. - Long-term debt, net, decreased to $1.285 billion as of September 30, 2024, from $1.366 billion as of December 31, 2023[14]. - Rayonier Inc. had cash and cash equivalents of $74.225 million as of September 30, 2024, down from $207.696 million at the end of 2023[14]. - Total current assets decreased to $277.1 million as of September 30, 2024, compared to $317.0 million at December 31, 2023[27]. - Total principal debt as of September 30, 2024, was $1,313,368,000, with total long-term debt amounting to $1,285,239,000 after accounting for current maturities and discounts[73]. Shareholder Equity and Dividends - Rayonier Inc. has a total of 149 million shares issued and outstanding as of September 30, 2024, an increase from 148 million shares at the end of 2023[14]. - As of June 30, 2024, total shareholders' equity increased to $1,821,065, up from $1,515,026 at the beginning of the year[17]. - The company declared dividends of $0.285 per share, totaling $42,433 for the quarter[17]. - The balance of retained earnings decreased to $243,861 as of September 30, 2024, down from $264,012[17]. - The company declared dividends of $0.285 per share, totaling $42,460 for the quarter ended September 30, 2023[21]. Revenue and Sales - Total sales for the nine months ended September 30, 2024, were $536.7 million, a decrease of 8.95% compared to $589.5 million for the same period in 2023[25]. - Total timber sales for the three months ended September 30, 2024, amounted to $137.537 million, a decrease from $143.236 million in the same period of 2023, representing a decline of about 4%[57]. - The company reported a total of $315.118 million in delivered wood sales for the nine months ended September 30, 2024[63]. - The total real estate sales for the nine months ended September 30, 2024, were $76.6 million, a decrease of 3.7% from $79.5 million in the same period of 2023[149]. Operating Expenses and Costs - Other operating expenses for the three months ended September 30, 2024, totaled $1,914, compared to $1,654 for the same period in 2023[105]. - The company incurred a pre-tax non-cash pension settlement charge of $5.7 million due to actuarial losses related to the termination of its Defined Benefit Plan[108]. - Costs related to disposition initiatives amounted to $1,553 for the nine months ended September 30, 2024, reflecting legal and advisory costs associated with the asset disposition plan[105]. Cash Flow and Investments - Cash provided by operating activities for the nine months ended September 30, 2024, was $173,778, down from $208,936 for the same period in 2023[22]. - Capital expenditures for the nine months ended September 30, 2024, were $53,166, consistent with $53,128 for the same period in 2023[22]. - Cash used for investing activities decreased by $4.8 million from the prior year period, primarily due to lower cash used for timberland acquisitions of $10.4 million[194]. - The company expects full-year harvest volumes in the Southern Timber and Pacific Northwest Timber segments to be slightly below the lower end of prior guidance due to land dispositions and weather impacts[186]. Market and Segment Performance - The Southern Timber segment relies heavily on domestic markets for pulp and paper, while the Pacific Northwest Timber segment exports to China and Japan, indicating a diverse market strategy[137]. - The New Zealand Timber segment is impacted by lower construction activity in China, negatively affecting export market demand and prices[138]. - The company reported a total operating loss of $10.5 million in the corporate and other segment for the three months ended September 30, 2024, compared to a loss of $9.4 million in the same period of 2023[165]. Foreign Currency and Derivatives - The company hedges 50% to 90% of projected foreign exchange exposure for the next 12 months using derivative financial instruments[82]. - The company reported a loss of $21.38 million in interest expense related to interest rate products for the nine months ended September 30, 2024[85]. - The estimated net gain on derivatives contracts expected to be reclassified into earnings in the next 12 months is approximately $17.9 million[86].

Q3 2024 Financial Supplement November 2024 Safe Harbor Statement Forward-Looking Statements - Certain statements in this presentation regarding anticipated financial outcomes including Rayonier's earnings guidance, if any, business and market conditions, outlook, expected dividend rate, Rayonier's business strategies, expected harvest schedules, timberland acquisitions and dispositions, the anticipated benefits of Rayonier's business strategies, and other similar statements relating to Rayonier's future eve ...

Financial Data and Key Metrics Changes - The company generated third quarter adjusted EBITDA of $72 million, down from $79 million in the prior year period, primarily due to lower contributions from the New Zealand timber segment [13][20] - Pro forma net income for the third quarter was $18 million or $0.12 per share, reflecting a decline compared to the previous year [19] - Sales for the third quarter totaled $195 million, with operating income at $28 million and net income attributable to Rayonier at $29 million or $0.19 per share [19] Business Line Data and Key Metrics Changes - Southern Timber segment adjusted EBITDA was $38 million, comparable to the prior year, despite a 13% decline in harvest volumes and a 3% decrease in weighted average net stumpage realizations [14][27] - Pacific Northwest Timber segment adjusted EBITDA increased to $9 million, driven by a 10% increase in harvest volumes, although offset by a 7% decrease in weighted average net stumpage realizations [15][32] - New Zealand Timber segment adjusted EBITDA decreased to $15 million, down $9 million year-over-year, primarily due to lower carbon credit sales and a 16% decline in weighted average net stumpage realizations [16][35] - Real Estate segment adjusted EBITDA was $20 million, up $1 million from the prior year, driven by higher average per acre prices despite lower acres sold [17][39] Market Data and Key Metrics Changes - The company expects full year adjusted EBITDA to be in the range of $275 million to $290 million, reflecting the impact of completed and pending timberland dispositions [45] - The Southern Timber segment anticipates full year harvest volumes of approximately 7 million tons, slightly below prior guidance due to weather-related impacts [46] - The Pacific Northwest Timber segment expects full year harvest volumes of approximately 1.2 million tons, below prior guidance due to land dispositions [48] Company Strategy and Development Direction - Rayonier is focused on executing its asset disposition and capital structure realignment plan, having completed or announced timberland dispositions totaling $737 million, roughly three-quarters of its original $1 billion target [11][57] - The company aims to enhance shareholder value through nimble capital allocation and active portfolio management, with plans for special distributions to meet REIT taxable income requirements [10][12] - The company is optimistic about the long-term growth prospects in markets with strong cash flow attributes following the timberland dispositions [8][57] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the U.S. housing market being undersupplied, which could lead to improved operating conditions in 2025 [53] - The company noted challenges in the saw timber markets but highlighted improvements in pulpwood pricing as a positive development [53] - Management remains focused on advancing land-based solutions and expects to see higher non-timber income for the full year 2024 compared to 2023 [47][55] Other Important Information - The company closed the third quarter with $74 million in cash and approximately $1.3 billion in debt, with a net debt to trailing 12 months adjusted EBITDA ratio of about 4.5 times [22] - The weighted average cost of debt was approximately 2.9%, which decreased to about 2.7% after using $90 million of disposition proceeds to pay off floating rate debt [23] Q&A Session Summary Question: Update on evaluating strategic alternatives for the New Zealand business - Management confirmed that the evaluation process for the New Zealand joint venture is ongoing but did not provide new updates [59][61] Question: Expectations for the log market in China into 2025 - Management noted a reduction in supply from Europe and stable demand in China, with some positive price movement expected [63][64] Question: Impact of the Oklahoma sale on the Southern portfolio quality - Management indicated that the Oklahoma properties represent a small portion of the overall Southern portfolio, thus the impact on log pricing would not be significant [67][69] Question: Breakdown of timberland costs and expectations for Q4 - Management stated that costs have remained stable in the U.S. South and have seen slight reductions in the Pacific Northwest due to operational changes [70] Question: Clarification on NAV per share accretion from dispositions - Management explained that the disposition program aims to capitalize on the disconnect between public and private timberland values, which should lead to NAV accretion [73][74] Question: Potential for exceeding the $1 billion disposition target - Management expressed that while they are not deliberately looking to exceed the target, they are open to opportunities that may arise [75][77] Question: Expected timeline for solar projects to come to fruition - Management indicated that solar projects typically take two to three years to develop, but recent regulatory changes may expedite the process [80][81]

Rayonier Inc. (RYN) reported a third-quarter 2024 pro-forma net income of 12 cents per share, missing the Zacks Consensus Estimate and the year-ago quarter's figure of 13 cents. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. Total revenues came in at $195.0 million, which lagged the Zacks Consensus Estimate of $222.4 million. On a year-over-year basis, the figure decreased 3.3%. Adjusted EBITDA came in at $71.8 million, down from $78.9 million in the prior-year period. This 9% dec ...

Rayonier (RYN) came out with quarterly earnings of $0.12 per share, missing the Zacks Consensus Estimate of $0.13 per share. This compares to earnings of $0.13 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -7.69%. A quarter ago, it was expected that this forest products company would post earnings of $0.14 per share when it actually produced earnings of $0.02, delivering a surprise of -85.71%.Over the last four quarters, the ...

Exhibit 99.1 News Release RAYONIER REPORTS THIRD QUARTER 2024 RESULTS • Third quarter net income attributable to Rayonier of $28.8 million ($0.19 per share) on revenues of $195.0 million • Third quarter pro forma net income of $18.1 million ($0.12 per share) • Third quarter operating income of $27.6 million, pro forma operating income of $28.5 million, and Adjusted EBITDA of $71.8 million • Year-to-date cash provided by operations of $173.8 million and cash available for distribution (CAD) of $105.7 million ...

It has been about a month since the last earnings report for Rayonier (RYN) . Shares have added about 4.4% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Rayonier due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Rayonier Q2 Earnings and Revenues Miss Estimates Rayo ...

Tetsuko Oota/iStock via Getty Images Rayonier Inc. (NYSE:RYN) stock continues to be awarded a Buy rating, despite its Q2 2024 results miss. RYN's full-year FY 2024 EBITDA is expected to still fall within its prior guidance range with a potential pick-up in timber harvest volume for the second half. Furthermore, Rayonier's EV/EBITDA multiple might expand going forward, assuming that the company manages to divest its assets at healthy valuations in the future. My earlier May 22, 2024 update touched on the pro ...

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act. Rayonier Inc. Large Accelerated Filer ☒ Accelerated Filer ☐ Non-accelerated Filer ☐ Smaller Reporting Company ☐ Emerging Growth Company ☐ Rayonier, L.P. Large Accel ...

Rayonier Inc. (NYSE:RYN) Q2 2024 Earnings Conference Call August 8, 2024 10:00 AM ET Company Participants Collin Mings - VP, Capital Markets and Strategic Planning Mark McHugh - President and CEO April Tice - SVP and CFO Douglas Long - EVP and Chief Resource Officer Conference Call Participants Mark Weintraub - Seaport Research Partners Gregory Andreopoulos - Citi Matthew McKellar - RBC Capital Markets Buck Horne - Raymond James Operator Welcome, and thank you for joining Rayonier's Second Quarter 2024 Conf ...