Rayonier Stock Price, News & Analysis

Rayonier (NYSE:RYN) announced timberland dispositions totaling ~200,000 acres for $495 million (~$2,475/acre) through four separate transactions. The sales include ~91,000 acres in Southeast Oklahoma and ~109,000 acres in Northwest Washington. Three transactions representing ~75% of proceeds have closed in Q4, with the remaining deal expected to close by year-end. The sale price represents a 45x multiple of trailing three-year average EBITDA. The company has used $90 million to pay down floating rate debt, with remaining proceeds targeted for leverage reduction and shareholder returns. Pro forma Net Debt to Adjusted EBITDA is expected to decrease to ~2.8x.

Rayonier Inc. (NYSE:RYN) has announced its fourth quarter 2024 dividend. The company's board of directors has declared a cash dividend of $0.285 per common share, payable on December 31, 2024, to shareholders of record on December 17, 2024. Additionally, the board, acting as the board of directors of the general partner of Rayonier, L.P., has declared a fourth quarter cash distribution of $0.285 per operating partnership unit, with the same payment and record dates as the common share dividend.

Rayonier Inc. (NYSE:RYN) has announced its schedule for releasing third quarter 2024 earnings. The company plans to disclose its financial results after the market closes on Wednesday, November 6, 2024. Following this, Rayonier will host a conference call and live audio webcast on Thursday, November 7, at 10:00 a.m. (ET) to discuss the results.

Investors can access supplemental materials and the live audio webcast at www.rayonier.com. A replay of the webcast will be available on the company's website shortly after the call. For those preferring to listen via phone, the conference call can be accessed by dialing 888-604-9366 (domestic) or 517-308-9338 (international) using the passcode: RAYONIER.

A replay of the conference call will be available for one month, until Friday, December 6, 2024, by dialing 800-395-6236 (domestic) or 203-369-3270 (international) with the passcode: 4077.

Rayonier, a major landowner, is focusing on land-based solutions to address environmental needs and support the transition to a low-carbon economy. These solutions include:

1. Alternative land uses: Leasing land for solar and wind farms to produce clean energy. In 2023, the first solar farm on Rayonier land came online in Texas, powering 30,000 homes and avoiding 250,000 metric tons of CO₂ emissions annually.

2. Carbon capture and storage (CCS): Providing underground pore space for CO₂ storage. Rayonier announced 75,000 acres of pore space lease agreements in 2024.

3. Carbon sequestration: Maximizing carbon capture in forests and participating in carbon offset markets. In 2023, Rayonier generated $23 million in New Zealand Unit sales.

4. Bioenergy and biofuel production: Supplying wood fiber for renewable fuels and exploring opportunities in bioenergy with carbon capture and storage (BECCS).

5. Environmental conservation: Implementing conservation strategies and enhancing biodiversity through sustainable land management practices.

Rayonier has launched ForestryCareers.com, a new website aimed at educating students and career seekers about opportunities in the forestry industry. The site offers interactive lessons, informative videos, and a career resources guide for educators, counselors, and parents to introduce forestry careers to students. It provides detailed profiles and salary information for various roles in the sector.

Tiffany Wilson, director of strategic communications at Rayonier, emphasized the importance of attracting talented individuals to manage forests sustainably. The website is a resource for students, parents, guidance counselors, teachers, and forestry professionals interested in connecting with the next generation. This initiative is part of Rayonier's broader commitment to forestry education and career development, which includes partnerships with schools and universities for internships and scholarships.

Rayonier Inc. (NYSE:RYN) has released its 2023 Sustainability Report and Carbon Report, showcasing its commitment to environmental stewardship and stakeholder well-being. The reports highlight Rayonier's efforts in enhancing long-term sustainability of land resources and improving ESG practices.

Key points include:

• Rayonier's forestlands removed an estimated 13 million metric tonnes of CO2 equivalents in 2023
• The company's forests stored approximately 715 million metric tonnes of CO2 equivalents by year-end 2023
• Rayonier became a signatory to The Climate Pledge in December 2023
• The company has set emissions reduction targets aligned with the Paris Agreement 1.5ºC pathway

These reports demonstrate Rayonier's ongoing commitment to transparency and sustainable forest management.

Rayonier Inc. (NYSE:RYN) reported second quarter 2024 results with net income of $1.9 million ($0.01 per share) on revenues of $173.6 million. This compares to net income of $19.0 million ($0.13 per share) on revenues of $208.9 million in Q2 2023. Pro forma net income was $3.7 million ($0.02 per share), down from $7.8 million ($0.05 per share) in the prior year period.

Adjusted EBITDA for Q2 2024 was $55.7 million, a 20% decline from $69.2 million in Q2 2023. The company attributes this decrease to lower harvest volumes in Timber segments due to softer demand and harvest activity deferrals. Year-to-date cash provided by operating activities was $107.6 million, with cash available for distribution (CAD) at $59.6 million.

Rayonier expects full-year Adjusted EBITDA to be towards the lower end of its prior guidance range, with pro forma EPS slightly below the low end of prior guidance. The company is progressing on its $1 billion disposition plan and anticipates providing more details on significant transactions in the coming months.

Rayonier Inc. (NYSE:RYN) has announced a third quarter cash dividend of $0.285 per common share, payable on September 30, 2024, to shareholders of record on September 16, 2024. Additionally, the board of directors, acting as the board of the general partner of Rayonier, L.P., has declared a third quarter cash distribution of $0.285 per operating partnership unit, also payable on September 30, 2024, to holders of record on September 16, 2024.

Rayonier Inc. (NYSE:RYN) has announced its plans to release second quarter 2024 earnings after market close on August 7, 2024. The company will host a conference call and live audio webcast on August 8, 2024, at 10:00 a.m. ET to discuss the results. Investors can access supplemental materials and the live webcast at www.rayonier.com. For those unable to attend, a replay will be available on the company's website shortly after the call. Additionally, investors can listen to the conference call by dialing 888-604-9366 (domestic) or 517-308-9338 (international) using the passcode RAYONIER. A replay of the call will be accessible until September 8, 2024, by dialing 866-361-4936 (domestic) or 203-369-0184 (international) with passcode 4074.