Rayonier reports Q3 EPS 28c, consensus 22c

Reports Q3 revenue $177.5M, consensus $162.3M. “During the third quarter, we generated total Adjusted EBITDA of $114.3 million-roughly doubling the prior year period-as stronger results in our Real Estate and Southern Timber segments were partially offset by lower results in our Pacific Northwest Timber segment,” said Mark McHugh, President and CEO. “Third quarter Adjusted EBITDA in our Real Estate segment outperformed our expectations going into the period due to the successful closing of several significant transactions. In our Southern Timber segment, Adjusted EBITDA improved 13% versus the prior year quarter, as a 24% increase in harvest volumes was partially offset by a 5% reduction in net stumpage realizations and lower pipeline easement revenues. In our Pacific Northwest Timber segment, Adjusted EBITDA declined 26% relative to the prior year quarter, as a 34% reduction in harvest volumes was partially offset by lower costs and modestly improved pricing. Overall, we now expect total full-year Adjusted EBITDA to be at or above the higher end of our prior guidance range, as further detailed later in this release. On October 14, we were pleased to announce a merger of equals with PotlatchDeltic. We believe this combination will create a premier land resources company that will be well-positioned to create shareholder value over the long term. The transaction is expected to close in late first quarter or early second quarter 2026.”