Overview

* Rayonier Q3 2025 revenue beats analyst expectations, adjusted EPS also exceeds estimates

* Adjusted EBITDA for Q3 2025 doubles yr/yr, driven by Real Estate and Southern Timber

* Company announces merger with PotlatchDeltic, expected to close in early 2026

Outlook

* Company expects full-year adjusted EBITDA at or above prior guidance range

* Rayonier ( RYN ) anticipates Q4 net income of $13 to $17 mln

* Company forecasts Q4 EPS between $0.08 and $0.11

Result Drivers

* REAL ESTATE GROWTH - Significant transactions in Real Estate segment boosted results, outperforming expectations

* SOUTHERN TIMBER VOLUME - 24% increase in harvest volumes in Southern Timber segment drove growth despite lower stumpage realizations

* PACIFIC NORTHWEST DECLINE - Reduced harvest volumes impacted Pacific Northwest Timber segment, partially offset by lower costs and improved pricing

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $177.50 $160.40

Revenue mln mln (5

Analysts

)

Q3 Beat $0.32 $0.22 (5

Adjusted Analysts

EPS )

Q3 EPS $0.28

Q3 Beat $50.20 $35.84

Adjusted mln mln (4

Net Analysts

Income )

Q3 Net $43.20

Income mln

Q3 Beat $114.30 $89.11

Adjusted mln mln (5

EBITDA Analysts

)

Q3 $41.70

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "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 $29.50, about 26.1% above its November 4 closing price of $21.79

* The stock recently traded at 42 times the next 12-month earnings vs. a P/E of 43 three months ago

Press Release:

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(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.)