Rayonier Reports Q1 2024 Net Income of $1.4M on Revenue of $168.1M; Pro Forma Net Income $7.0M

Rayonier, L.P.

First quarter net income attributable to Rayonier was $1.4 million ($0.01 per share) on revenues of $168.1 million.
Pro forma net income was $7.0 million ($0.05 per share), compared to $1.1 million in prior year period.
Adjusted EBITDA was $56.2 million, up 3% from $54.7 million in prior year quarter.
Southern Timber segment Adjusted EBITDA increased 5% to $44.8 million; New Zealand Timber segment Adjusted EBITDA rose 88% to $11.4 million.
The company continues to make progress toward its $1 billion disposition target, marketing ~115,000 acres in Washington and evaluating alternatives for New Zealand JV.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Rayonier, L.P. reported the quarter ended March 31, 2024 results: revenue $168.1 million, net income $1.4 million ($0.01 per share), EPS $0.01 per share.

Period: the quarter ended March 31, 2024
Revenue: $168.1 million
Net income: $1.4 million ($0.01 per share)
EPS: $0.01 per share
Result: reported results

Exact text from the filing

Exhibit 99.1 News Release RAYONIER REPORTS FIRST QUARTER 2024 RESULTS • First quarter net income attributable to Rayonier of $1.4 million ($0.01 per share) on revenues of $168.1 million • First quarter pro forma net income of $7.0 million ($0.05 per share) • First quarter operating income of $16.2 million and Adjusted EBITDA of $56.2 million • First quarter cash

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Source: SEC EDGAR

accession 0000052827-24-000145

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