tiprankstipranks
Rayonier sees FY23 EPS 36c-50c, consensus 60c
The Fly

Rayonier sees FY23 EPS 36c-50c, consensus 60c

"In 2023, we expect to achieve net income attributable to Rayonier of $52 to $73 million, EPS of $0.36 to $0.50 and Adjusted EBITDA of $280 to $320 million," the company said. "We generally expect that results in the first half of the year will be meaningfully lower than results in the second half of the year, as end market demand continues to normalize following the rapid rise in interest rates and associated market volatility. We further expect that year-over-year net income attributable to Rayonier and EPS will be impacted by increased depletion rates in our Southern Timber segment following the completion of our previously announced acquisition of 137,800 acres in the U.S. South for $454 million. In our Southern Timber segment, we expect to achieve full-year harvest volumes of 6.7 to 7.0 million tons. The anticipated increase relative to the prior year reflects the additional volume associated with our previously announced acquisitions. We also anticipate higher non-timber income for full-year 2023 as compared to full-year 2022. However, we expect that the increase in harvest volumes and non-timber income will be largely offset by lower weighted average stumpage realizations due to softer demand as well as higher harvest and transportation costs. Overall, we expect full-year Adjusted EBITDA of $145 to $160 million, generally in line with full-year 2022 results."

Published first on TheFly

See the top stocks recommended by analysts >>

Read More on RYN:

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles