Rayonier Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Rayonier Inc. has submitted its Q1 2024 10-Q filing, detailing financial performance and corporate information.</b>

AI Summary

RAYONIER INC (RYN) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Rayonier Inc. filed its quarterly report (10-Q) on May 3, 2024, for the period ending March 31, 2024. The filing covers the company's financial performance and position as of Q1 2024. Rayonier Inc. is incorporated in North Carolina and operates under SIC code 6798 (Real Estate Investment Trusts). The company's principal business address is 1 Rayonier Way, Wildlight, FL 32097. The filing includes data for Rayonier Limited Partnership, a member entity.

Why It Matters

For investors and stakeholders tracking RAYONIER INC, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial data, crucial for assessing the company's current operational health and strategic direction. Understanding the details within this report allows stakeholders to evaluate Rayonier's financial standing, including its assets, liabilities, and equity, as of March 31, 2024.

Risk Assessment

Risk Level: low — RAYONIER INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new information that would alter the company's risk profile.

Analyst Insight

Monitor future filings for detailed financial results and management commentary to assess performance trends and strategic initiatives.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-03 — Filing Date (FILED AS OF DATE)
• 12/31 — Fiscal Year End (FISCAL YEAR END)
• 6798 — Standard Industrial Classification (SIC)

Key Players & Entities

• RAYONIER INC (company) — FILER
• Rayonier, L.P. (company) — FILER
• 2024-03-31 (date) — CONFORMED PERIOD OF REPORT
• 2024-05-03 (date) — FILED AS OF DATE
• 1 RAYONIER WAY (address) — BUSINESS ADDRESS
• WILDLIGHT (city) — BUSINESS ADDRESS
• FL (state) — BUSINESS ADDRESS
• 32097 (zip_code) — BUSINESS ADDRESS

FAQ

Industry Context

Rayonier Inc. operates as a Real Estate Investment Trust (REIT), primarily involved in the ownership and management of timberland.

Regulatory Implications

As a publicly traded company, Rayonier Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze segment performance if revenue data becomes available in subsequent filings or summaries.
3. Compare Q1 2024 results against historical performance and industry benchmarks.

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-03: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Filing Documents

• ryn-20240331.htm (10-Q) — 2792KB
• rayonierincex3111q2024.htm (EX-31.1) — 10KB
• rayonierincex3121q2024.htm (EX-31.2) — 10KB
• rayonierlpex3131q2024.htm (EX-31.3) — 10KB
• rayonierlpex3141q2024.htm (EX-31.4) — 10KB
• rayonierincex3211q2024.htm (EX-32.1) — 6KB
• rayonierlpex3221q2024.htm (EX-32.2) — 6KB
• ryn-20240331_g1.jpg (GRAPHIC) — 15KB
• 0000052827-24-000150.txt (&nbsp;) — 12716KB
• ryn-20240331.xsd (EX-101.SCH) — 83KB
• ryn-20240331_cal.xml (EX-101.CAL) — 90KB
• ryn-20240331_def.xml (EX-101.DEF) — 457KB
• ryn-20240331_lab.xml (EX-101.LAB) — 812KB
• ryn-20240331_pre.xml (EX-101.PRE) — 699KB
• ryn-20240331_htm.xml (XML) — 2208KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1. Financial Statements (unaudited) 1 Rayonier Inc.: Consolidated Statements of Income and Comprehensive Income (Loss) for the Three Months Ended March 31, 2024 and 2023 1 Consolidated Balance Sheets as of March 31 , 202 4 and December 31, 202 3 2 Consolidated Statements of Changes in Shareholders' Equity for the Quarters Ended March 3 1 , 202 4 and 20 23 3 Consolidated Statements of Cash Flows for the Three Months Ended March 31 , 202 4 and 202 3 5 Rayonier, L.P.: Consolidated Statements of Income and Comprehensive Income (Loss) for the Three Months Ended March 31, 2024 and 2023 6 Consolidated Balance Sheets as of March 31, 202 4 and December 31, 202 3 7 Consolidated Statements of Changes in Capital for the Quarters Ended March 3 1 , 202 4 and 202 3 8 Consolidated Statements of Cash Flows for the Three Months Ended March 3 1 , 202 4 and 202 3 9

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 10 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 32 3. Quantitative and Qualitative Disclosures about Market Risk 53 4. Controls and Procedures 55

- OTHER INFORMATION

PART II - OTHER INFORMATION 1. Legal Proceedings 55 2. Unregistered Sales of Equity Securities and Use of Proceeds 56 5. Other Information 57 6. Exhibits 58

Signatures

Signatures 59 i Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements RAYONIER INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (Unaudited) (Dollars in thousands, except per share amounts) Three Months Ended March 31, 2024 2023 SALES ( NOTE 3 ) $ 168,097 $ 179,082 Costs and Expenses Cost of sales ( 133,180 ) ( 149,166 ) Selling and general expenses ( 18,978 ) ( 16,778 ) Other operating income (expense), net ( Note 14 ) 271 ( 2,516 ) ( 151,887 ) ( 168,460 ) OPERATING INCOME 16,210 10,622 Interest expense, net ( 9,744 ) ( 11,700 ) Interest and other miscellaneous (expense) income, net ( 4,992 ) 9,554 INCOME BEFORE INCOME TAXES 1,474 8,476 Income tax benefit (expense) ( Note 16 ) 832 ( 1,039 ) NET INCOME 2,306 7,437 Less: Net income attributable to noncontrolling interests in the operating partnership ( 20 ) ( 174 ) Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates ( 929 ) 1,037 NET INCOME ATTRIBUTABLE TO RAYONIER INC. 1,357 8,300 OTHER COMPREHENSIVE (LOSS) INCOME Foreign currency translation adjustment, net of income tax effect of $ 0 and $ 0 ( 16,951 ) ( 3,733 ) Cash flow hedges, net of income tax effect of $ 1,866 and $ 312 2,966 ( 12,319 ) Pension and postretirement benefit plans, net of income tax effect of $ 1,222 and $ 0 9,562 1 Total other comprehensive loss ( 4,423 ) ( 16,051 ) COMPREHENSIVE LOSS ( 2,117 ) ( 8,614 ) Less: Comprehensive loss attributable to noncontrolling interests in the operating partnership 17 156 Less: Comprehensive loss attributable to noncontrolling interests in consolidated affiliates 947 1,032 COMPREHENSIVE LOSS ATTRIBUTABLE TO RAYONIER INC. ($ 1,153 ) ($ 7,426 ) EARNINGS PER COMMON SHARE ( NOTE 5 ) Basic earnings per share attributable to Rayonier Inc. $ 0.01 $ 0.06 Diluted earnings per share attributable to Rayonier Inc. $ 0.01 $ 0.06 See Notes to Consolidated Financial Statements. 1 Table of Contents RAYONIER INC. AND SUBSIDIARIES CONSOLIDATED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) (Dollar amounts in thousands unless otherwise stated) 1. BASIS OF PRESENTATION The unaudited consolidated financial statements and notes thereto of Rayonier Inc. and its subsidiaries and Rayonier, L.P. have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (the "SEC"). The Rayonier Inc. and Rayonier, L.P. year-end balance sheet information was derived from audited financial statements not included herein. In t

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