Rayonier Q3 adjusted EPS and EBITDA beat estimates
Overview
U.S. timberland REIT's Q3 adjusted EPS and net income beat analyst expectations
Q3 adjusted EBITDA beat analyst expectations
Company repurchased $59.8 mln in shares and approved new $300 mln buyback program
Outlook
Rayonier expects Southern Timber full-year harvest volumes of 12.2 to 12.4 mln tons
Company expects Northwest Timber full-year harvest volumes of 2.0 to 2.1 mln tons
Rayonier expects Wood Products lumber shipments of about 1.1 bln board feet for 2026
Result Drivers
SOUTHERN TIMBER VOLUME - Higher harvest volumes from PotlatchDeltic timberlands drove Southern Timber results
NORTHWEST TIMBER GROWTH - Increased harvest volumes from PotlatchDeltic timberlands and higher Idaho sawlog prices boosted Northwest Timber
WOOD PRODUCTS PRICING - Strong lumber prices and steady shipment volumes supported Wood Products segment
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Pro Forma EPS | Beat | $0.13 | $0.11 (5 Analysts) |
Q3 EPS | $0.41 | ||
Q3 Pro Forma Net Income | Beat | $40 mln | $33.77 mln (3 Analysts) |
Q3 Net Income | $123.30 mln | ||
Q3 Adjusted EBITDA | Beat | $144.60 mln | $126.009 mln (4 Analysts) |
Q3 Operating Income | $146.90 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" 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. is $23.50, about 19.8% above its November 3 closing price of $19.62
The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 38 three months ago
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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.)