Jun 2026 (Q2 FY26) — Aug 6, 2026
Rayonier Q2 FY26 — Strong Performance Post-Merger & Strategic Land Exchange
Read the full callRayonier (RYN) earnings
- Mar 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Rayonier earnings: last reported Thu, 6 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 277 | +233.8% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | -16.5 | −16.6 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | -12.4 | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. The year-earlier figure was zero or a loss, so no percentage is shown. |
Guidance
What management said, and what became of it
12 of 13 judged targets kept · 5 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| New corporate headquarters opening (Atlanta) | expect to open in early 2027 | Jun 2026 | We also signed a lease on our new corporate headquarters in Atlanta, which we expect to open in early 2027. | New |
| Post-merger corporate name/ticker announcement timing | announce a new name and ticker symbol for the company later in the first quarter of 2026 | Dec 2025 | we announced in late March that after completing a thorough review of alternatives, we would maintain the Rayonier name while also introducing a refreshed corporate logo that reflects the beginning of a new era as a combined company | Achieved |
1 of RAYONIER INC's 18 targets was missed. See which ones, and which are quietly gone. The 2 above are the free sample; 16 more targets are in the full ledger.
Claimed
- Adjusted EBITDA of $124 million, well above the prior year period, primarily due to PotlatchDeltic contributions and solid operational performance.
- Southern Timber Adjusted EBITDA increased 85% year-over-year to $53 million, driven by more than doubled harvest volumes.
- Northwest Timber Adjusted EBITDA was $26 million, significantly above the prior year quarter, with harvest volumes more than doubling.
- Wood Products segment generated $25 million of Adjusted EBITDA, its strongest quarterly result since Q3 2022, with average lumber price realization of $505 per MBF.
- Real Estate revenue totaled $54 million on approximately 7,500 acres sold, contributing $38 million in Adjusted EBITDA, up $20 million from the prior year.
- Repurchased 3.5 million shares for $72 million in Q2, contributing to a total of 4.9 million shares repurchased for $103 million in H1 FY26.
Qualified
- Pulpwood markets experienced challenging conditions with subdued demand and increased supply from dry weather and salvage harvesting, though pricing has generally stabilized.
- A casualty loss of approximately $2 million was recorded in the Southern Timber segment due to wildfires affecting 9,300 acres in Georgia.
- The solar option portfolio may shrink in coming quarters as developers focus on optimizing pipelines and sorting through interconnection costs and regulatory changes.
Price
$18.69 −1.58% · −$0.3
Performance −25.0% 1Y
1Y: $24.91 on 17 Oct 2025 → $18.69. High $24.91 (17 Oct 2025), low $17.99 (7 Oct 2026).
- Previous close
- $18.99
- 52-week range
- $17.99 – $24.7
- One year
- −23.93%
Overview
- Symbol
- RYN
- Sector
- Real Estate
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
12 of 13 judged targets kept · 5 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| New corporate headquarters opening (Atlanta) | expect to open in early 2027 | Jun 2026 | We also signed a lease on our new corporate headquarters in Atlanta, which we expect to open in early 2027. | New |
| Post-merger corporate name/ticker announcement timing | announce a new name and ticker symbol for the company later in the first quarter of 2026 | Dec 2025 | we announced in late March that after completing a thorough review of alternatives, we would maintain the Rayonier name while also introducing a refreshed corporate logo that reflects the beginning of a new era as a combined company | Achieved |
Claimed
- Adjusted EBITDA of $124 million, well above the prior year period, primarily due to PotlatchDeltic contributions and solid operational performance.
- Southern Timber Adjusted EBITDA increased 85% year-over-year to $53 million, driven by more than doubled harvest volumes.
- Northwest Timber Adjusted EBITDA was $26 million, significantly above the prior year quarter, with harvest volumes more than doubling.
- Wood Products segment generated $25 million of Adjusted EBITDA, its strongest quarterly result since Q3 2022, with average lumber price realization of $505 per MBF.
- Real Estate revenue totaled $54 million on approximately 7,500 acres sold, contributing $38 million in Adjusted EBITDA, up $20 million from the prior year.
- Repurchased 3.5 million shares for $72 million in Q2, contributing to a total of 4.9 million shares repurchased for $103 million in H1 FY26.
Qualified
- Pulpwood markets experienced challenging conditions with subdued demand and increased supply from dry weather and salvage harvesting, though pricing has generally stabilized.
- A casualty loss of approximately $2 million was recorded in the Southern Timber segment due to wildfires affecting 9,300 acres in Georgia.
- The solar option portfolio may shrink in coming quarters as developers focus on optimizing pipelines and sorting through interconnection costs and regulatory changes.
The full ledger
Open RAYONIER INC’s full ledger
A free account opens 5 company ledgers a month. All 18 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 7, 2026
Rayonier Q1 FY26 — Strong Post-Merger Performance Driven by Real Estate and Timber
Read the full callEvery analysed call
Rayonier earnings calls (RYN)
Financials
What the filings say
Net profit, year on year: −263% (quarter to mar 2026 against mar 2025).
| Line item | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 100 | 124 | 726 | 83 | 107 | 178 | 117 | 277 |
| Expenses | 95 | 105 | 380 | 83 | 92 | 136 | 90 | 322 |
| Operating profit | 5 | 19 | 346 | 0 | 15 | 42 | 27 | -46 |
| Operating margin | 4.6% | 15.2% | 47.7% | 0.1% | 13.7% | 23.5% | 23.0% | −16.5% |
| Interest | 9 | 9 | 10 | 6 | 7 | 7 | 7 | 14 |
| Profit before tax | -4 | 22 | 341 | -5 | 10 | 44 | 26 | -52 |
| Tax rate | 0.0% | 0.0% | 2.2% | −5.5% | 0.0% | 0.0% | 0.9% | 75.9% |
| Net profit | 2 | 29 | 327 | -3 | 409 | 43 | 26 | -12 |
| EPS ($ per share) | 0.01 | 0.19 | — | -0.02 | 2.63 | 0.28 | — | -0.05 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 884 | 888 | 1,102 | 1,389 | 1,463 | 1,498 | 1,522 | 1,904 |
| Reserves | 672 | 583 | 446 | 402 | 367 | 338 | 257 | 281 |
| Total liabilities | 1,126 | 1,323 | 1,866 | 1,821 | 1,909 | 1,770 | 1,694 | 1,195 |
| Fixed assets | 23 | 22 | 30 | 30 | 27 | 27 | 17 | 19 |
| Total assets | 2,781 | 2,861 | 3,729 | 3,636 | 3,789 | 3,648 | 3,474 | 3,405 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 310 | 214 | 204 | 325 | 269 | 298 | 262 | 257 |
| Cash from investing | -133 | -219 | -214 | -26 | -516 | 124 | 354 | 615 |
| Cash from financing | -194 | -80 | 27 | -16 | -5 | -329 | -479 | -373 |
| Net cash flow | -16 | -86 | 18 | 282 | -254 | 93 | 135 | 500 |
| Capital expenditure | -62 | -64 | -66 | -76 | -75 | -177 | -182 | — |
| Free cash flow | 248 | 150 | 138 | 249 | 194 | 121 | 79 | — |
RYN revenue by segment
Southern Timber shrank from 32% to 24% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Wood Products | — | — | — | — | — | — | — | 50% | — |
| Southern Timber | 32% | 8% | 62% | — | 38% | — | 29% | 24% | — |
| Real Estate | 15% | 78% | 12% | 28% | 51% | 35% | 22% | 13% | +81.1% |
| Northwest Timber | — | — | — | — | — | — | 10% | 13% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
RYN operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Harvest volume PotlatchDeltic | ~1M tonsTotal harvest volumes increased 76% versus the prior year quarter, primarily due to the addition of roughly 1 million tons of volume from the PotlatchDeltic timberlands.Source: earnings call transcript | ~1.5M tonsTotal harvest volumes more than doubled versus the prior year quarter, primarily due to the addition of roughly 1.5 million tons of volume from the PotlatchDeltic timberland.Source: earnings call transcript | — |
| Average lumber price realization Wood Products | $437During this period, our average lumber price realization was $437 per MBF and shipments totaled 199 million board feet.Source: earnings call transcript | $505Our average lumber price realization was $505 per MBF and shipments totaled 314 million board feet, in line with our prior guidance.Source: earnings call transcript | +15.6% |
| Lumber shipments Wood Products | 199M board feetDuring this period, our average lumber price realization was $437 per MBF and shipments totaled 199 million board feet.Source: earnings call transcript | 314M board feetOur average lumber price realization was $505 per MBF and shipments totaled 314 million board feet, in line with our prior guidance.Source: earnings call transcript | +57.8% |
| Acres sold Real Estate | ~7,700 acresIn the first quarter, real estate revenue totaled $60 million on approximately 7,700 acres sold at an average price of $7,300 per acre.Source: earnings call transcript | ~7,500 acresIn the second quarter, real estate revenue totaled $54 million on approximately 7,500 acres sold at an average price of $6,300 per acre.Source: earnings call transcript | — |
| Average price per acre Real Estate | $7,300In the first quarter, real estate revenue totaled $60 million on approximately 7,700 acres sold at an average price of $7,300 per acre.Source: earnings call transcript | $6,300In the second quarter, real estate revenue totaled $54 million on approximately 7,500 acres sold at an average price of $6,300 per acre.Source: earnings call transcript | -13.7% |
| Acres sold Rural Real Estate | ~7,650 acresFirst quarter sales totaled $49 million, consisting of roughly 7,650 acres sold at an average price of nearly $6,500 per acre.Source: earnings call transcript | <7,500 acresSecond quarter sales totaled $41 million, consisting of nearly 7,500 acres sold at an average price of roughly $5,400 per acre.Source: earnings call transcript | — |
| Average price per acre Rural Real Estate | <$6,500First quarter sales totaled $49 million, consisting of roughly 7,650 acres sold at an average price of nearly $6,500 per acre.Source: earnings call transcript | ~$5,400Second quarter sales totaled $41 million, consisting of nearly 7,500 acres sold at an average price of roughly $5,400 per acre.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Revenue by region
Q2 FY2026 · share of revenue
- Geographic Distribution Domestic 51% ↓ 15 pt
As RYN cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
60 filings between Nov 19, 2025 and Oct 2, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$4.11M
6 sales by 5 insiders
50% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 29
- Award — granted as compensation
- 25
- Tax withheld — shares kept back by the company to cover tax
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| CREMERS ERIC J | — | $3.63M | Feb 27, 2026 |
| CORR CHRISTOPHER T | — | $301.1K | Nov 19, 2025 |
| Bridwell Mark R | — | $107.4K | Sep 10, 2026 |
| WASECHEK WAYNE | — | $61.8K | Apr 20, 2026 |
| Daniels Ryan M. | — | $16.7K | Oct 2, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 2, 2026 | Daniels Ryan M. SVP, Wood Products | Sale | 14 | $255 |
| Sep 30, 2026 | Daniels Ryan M. SVP, Wood Products | Sale 10b5-1 plan | 887 | $16.5K |
| Sep 10, 2026 | Bridwell Mark R EVP, GC and Secretary | Sale | 5,318 | $107.4K |
| Aug 28, 2026 | BASS KEITH E Director | Award | 1,136 | $23.2K |
| May 29, 2026 | BASS KEITH E Director | Award | 1,047 | $21.9K |
| May 15, 2026 | BASS KEITH E Director | Award | 6,811 | $135.0K |
| May 15, 2026 | COVEY MICHAEL J Director | Award | 6,811 | $135.0K |
| May 15, 2026 | Nelson Ann C Director | Award | 6,811 | $135.0K |
| May 15, 2026 | SULLIVAN LENORE M Director | Award | 6,811 | $135.0K |
| May 15, 2026 | Gonsalves Gregg A Director | Award | 6,811 | $135.0K |
| May 15, 2026 | Breard Linda M. Director | Award | 6,811 | $135.0K |
| May 15, 2026 | Jones Scott R. Director | Award | 6,811 | $135.0K |
| May 15, 2026 | LELAND D MARK Director | Award | 6,811 | $135.0K |
| Apr 20, 2026 | WASECHEK WAYNE EVP and CFO | Sale 10b5-1 plan | 2,920 | $61.8K |
| Apr 3, 2026 | Bridwell Mark R EVP, GC and Secretary | Tax withheld | 817 | $17.2K |
| Apr 3, 2026 | Tice April J. SVP & Chief Accounting Officer | Tax withheld | 372 | $7.8K |
| Apr 3, 2026 | McHugh Mark President and CEO | Tax withheld | 1,929 | $40.7K |
| Apr 3, 2026 | CORR CHRISTOPHER T SVP, Real Estate Development | Tax withheld | 534 | $11.3K |
| Apr 3, 2026 | Rogers W. Rhett EVP, Land Resources | Tax withheld | 965 | $20.4K |
| Apr 1, 2026 | Tice April J. SVP & Chief Accounting Officer | Tax withheld | 236 | $4.9K |
| Apr 1, 2026 | McHugh Mark President and CEO | Tax withheld | 4,968 | $103.6K |
| Apr 1, 2026 | McHugh Mark President and CEO | Tax withheld | 4,288 | $89.4K |
| Apr 1, 2026 | McHugh Mark President and CEO | Tax withheld | 1,412 | $29.5K |
| Apr 1, 2026 | Bridwell Mark R EVP, GC and Secretary | Tax withheld | 872 | $18.2K |
| Apr 1, 2026 | Bridwell Mark R EVP, GC and Secretary | Tax withheld | 1,010 | $21.1K |
| Apr 1, 2026 | McHugh Mark President and CEO | Tax withheld | 7,716 | $161.0K |
| Apr 1, 2026 | Bridwell Mark R EVP, GC and Secretary | Tax withheld | 3,265 | $68.1K |
| Apr 1, 2026 | Bridwell Mark R EVP, GC and Secretary | Tax withheld | 530 | $11.1K |
| Apr 1, 2026 | CORR CHRISTOPHER T SVP, Real Estate Development | Tax withheld | 685 | $14.3K |
| Apr 1, 2026 | Tice April J. SVP & Chief Accounting Officer | Tax withheld | 1,484 | $31.0K |
| Apr 1, 2026 | CORR CHRISTOPHER T SVP, Real Estate Development | Tax withheld | 569 | $11.9K |
| Apr 1, 2026 | CORR CHRISTOPHER T SVP, Real Estate Development | Tax withheld | 353 | $7.4K |
| Apr 1, 2026 | Rogers W. Rhett EVP, Land Resources | Tax withheld | 1,361 | $28.4K |
| Apr 1, 2026 | Rogers W. Rhett EVP, Land Resources | Tax withheld | 589 | $12.3K |
| Apr 1, 2026 | Rogers W. Rhett EVP, Land Resources | Tax withheld | 1,099 | $22.9K |
| Apr 1, 2026 | Rogers W. Rhett EVP, Land Resources | Tax withheld | 3,858 | $80.5K |
| Apr 1, 2026 | Tice April J. SVP & Chief Accounting Officer | Tax withheld | 1,317 | $27.5K |
| Apr 1, 2026 | CORR CHRISTOPHER T SVP, Real Estate Development | Tax withheld | 2,137 | $44.6K |
| Apr 1, 2026 | Tice April J. SVP & Chief Accounting Officer | Tax withheld | 1,061 | $22.1K |
| Mar 20, 2026 | Daniels Ryan M. Interim SVP, Wood Products | Award | 10,256 | $200.0K |
| Feb 27, 2026 | BASS KEITH E Director | Award | 1,017 | $21.9K |
| Feb 27, 2026 | CREMERS ERIC J Executive Chairman | Sale 10b5-1 plan | 169,200 | $3.63M |
| Feb 2, 2026 | McHugh Mark President and CEO | Award | 17,058 | $0 |
| Feb 2, 2026 | Tice April J. SVP & Chief Accounting Officer | Award | 111 | $2.5K |
| Feb 2, 2026 | Rogers W. Rhett EVP, Land Resources | Award | 3,877 | $87.5K |
| Jan 30, 2026 | Rogers W. Rhett EVP, Land Resources | Award | 34,797 | $0 |
| Jan 30, 2026 | Tice April J. SVP & Chief Accounting Officer | Award | 27,933 | $0 |
| Jan 30, 2026 | CORR CHRISTOPHER T SVP, Real Estate Development | Award | 18,164 | $0 |
| Jan 30, 2026 | McHugh Mark President and CEO | Award | 113,687 | $0 |
| Jan 30, 2026 | Long Douglas M Executive VP & CRO | Award | 46,896 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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