Rayonier Reports Third Quarter 2026 Results
Key Highlights
- ➤Q3 net income $123.3M, or $0.41 per diluted share
- ➤Q3 pro forma net income $40.0M, or $0.13 per diluted share
- ➤Adjusted EBITDA $144.6M, up from $114.3M year over year
- ➤Closed $145M Washington disposition and $146M timberland acquisition
- ➤Board approved incremental $300M share repurchase authorization
Expert Statements
Mark McHugh, President and Chief Executive Officer of Rayonier
“We generated Adjusted EBITDA of $144.6 million in the third quarter, reflecting solid operational performance across our businesses.”
Mark McHugh, President and Chief Executive Officer of Rayonier
“Our team continued to execute well amid a challenging market environment, while also making meaningful progress on integration initiatives that position us to create long-term value for our shareholders.”
Mark McHugh, President and Chief Executive Officer of Rayonier
“We further remained focused on disciplined and opportunistic capital allocation, repurchasing $60 million of our common stock during the third quarter, which brought our total share repurchases through the first nine months of the year to $163 million.”
Mark McHugh, President and Chief Executive Officer of Rayonier
“In our Southern Timber segment, Adjusted EBITDA increased 23% versus the prior year quarter to $52.4 million, driven primarily by the contribution of approximately 1.4 million tons of harvest volume from the legacy PotlatchDeltic timberlands.”
Mark McHugh, President and Chief Executive Officer of Rayonier
“In our Northwest Timber segment, Adjusted EBITDA of $32.3 million was roughly five times higher than the prior year quarter, primarily due to 368,000 tons of incremental harvest volume from the PotlatchDeltic timberlands as well as higher sawlog prices in Idaho.”
Mark McHugh, President and Chief Executive Officer of Rayonier
“In our Wood Products segment, Adjusted EBITDA totaled $27.0 million, reflecting strong lumber price realizations and shipment volumes.”
Mark McHugh, President and Chief Executive Officer of Rayonier
“In our Real Estate segment, Adjusted EBITDA totaled $48.5 million, exceeding the high end of our prior quarterly guidance, reflecting strong transaction activity and continued momentum across our real estate categories.”
* Third quarter net income attributable to Rayonier of $123.3 million (or $0.41 per diluted share), pro forma net income of $40.0 million (or $0.13 per diluted share), and Adjusted EBITDA of $144.6 million.
* Closed the previously announced, tax-efficient timberland transactions with RMS, consisting of a $145 million Large Disposition of approximately 36,000 acres in Washington and a $146 million acquisition of approximately 57,000 acres in Texas and Alabama.
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