Overview
* Rayonier ( RYN ) Q2 adjusted EBITDA grows 35% yr/yr, beating analyst expectations
* Adjusted EPS for Q2 beats consensus, driven by Real Estate segment performance
* Co repurchased 1.5 mln shares, enhancing shareholder value
Outlook
* Rayonier ( RYN ) expects full-year Adjusted EBITDA near lower end of prior guidance
* Company anticipates Q3 net income of $29 mln to $44 mln
* Rayonier ( RYN ) sees Q3 EPS between $0.18 and $0.28
* Company expects full year Real Estate segment Adjusted EBITDA at or above prior guidance
Result Drivers
* REAL ESTATE GROWTH - Real Estate segment Adjusted EBITDA increased $14.1 mln due to accelerated transaction timing and higher sales volumes
* PACIFIC NORTHWEST IMPROVEMENT - Higher domestic sawtimber prices and improved pulpwood dynamics boosted Pacific Northwest Timber segment
* SOUTHERN TIMBER CHALLENGES - Southern Timber segment faced decreased sales and volumes due to softer mill demand and prior asset dispositions
Key Details
Metric Beat/Mis Actual Consensu
s s
Estimate
Q2 $106.50
Revenue mln
Q2 Beat $0.06 $0.04 (5
Adjusted Analysts
EPS )
Q2 EPS $2.63
Q2 Beat $9.60 $3.96
Adjusted mln mln (4
Net Analysts
Income )
Q2 Net $408.70
Income mln
Q2 Beat $44.90 $42.40
Adjusted mln mln (5
EBITDA Analysts
)
Q2 $14.50
Operatin mln
g Income
Analyst Coverage
* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
* The average consensus recommendation for the specialized reits peer group is "buy."
* Wall Street's median 12-month price target for Rayonier Inc ( RYN ) is $29.00, about 17.6% above its August 5 closing price of $23.89
* The stock recently traded at 46 times the next 12-month earnings vs. a P/E of 42 three months ago
Press Release:
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)