Rayonier Inc. Files Q2 2024 10-Q Report

TL;DR

Rayonier Inc. dropped its Q2 2024 10-Q. Check financials.

AI Summary

Rayonier Inc. reported its second quarter 2024 results, ending June 30, 2024. The company, a real estate investment trust, filed its 10-Q with the SEC. Key financial details and operational updates for the period are outlined in the filing.

Why It Matters

This filing provides investors with crucial financial and operational data for Rayonier Inc. during the second quarter of 2024, impacting investment decisions.

Risk Assessment

Risk Level: medium — As a real estate investment trust, Rayonier Inc. is subject to market fluctuations and economic conditions affecting the real estate and timberland sectors.

Key Numbers

• 12/31 — Fiscal Year End (Indicates the end of the company's fiscal year.)
• Q2 — Quarter (Refers to the second quarter of the fiscal year.)

Key Players & Entities

• RAYONIER INC (company) — Filer
• Rayonier, L.P. (company) — Related Filer
• 20240630 (date) — Reporting Period End Date
• 20240808 (date) — Filing Date
• 9043579100 (phone_number) — Business Phone

FAQ

Filing Documents

• ryn-20240630.htm (10-Q) — 3629KB
• rayonierincex3112q2024.htm (EX-31.1) — 10KB
• rayonierincex3122q2024.htm (EX-31.2) — 10KB
• rayonierlpex3132q2024.htm (EX-31.3) — 10KB
• rayonierlpex3142q2024.htm (EX-31.4) — 10KB
• rayonierincex3212q2024.htm (EX-32.1) — 6KB
• rayonierlpex3222q2024.htm (EX-32.2) — 6KB
• ryn-20240630_g1.jpg (GRAPHIC) — 15KB
• 0000052827-24-000188.txt ( ) — 15075KB
• ryn-20240630.xsd (EX-101.SCH) — 83KB
• ryn-20240630_cal.xml (EX-101.CAL) — 93KB
• ryn-20240630_def.xml (EX-101.DEF) — 455KB
• ryn-20240630_lab.xml (EX-101.LAB) — 828KB
• ryn-20240630_pre.xml (EX-101.PRE) — 705KB
• ryn-20240630_htm.xml (XML) — 2959KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1. Financial Statements (unaudited) 1 Rayonier Inc.: Consolidated Statements of Income and Comprehensive Income (Loss) for the Three and Six Months Ended June 30, 2024 and 2023 1 Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 2 Consolidated Statements of Changes in Shareholders' Equity for the Quarters and Six Months Ended June 30, 2024 and 2023 3 Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 5 Rayonier, L.P.: Consolidated Statements of Income and Comprehensive Income (Loss) for the Three and Six Months Ended June 30, 2024 and 2023 6 Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 7 Consolidated Statements of Changes in Capital for the Quarters and Six Months Ended June 30, 2024 and 2023 8 Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 10

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 11 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 38 3. Quantitative and Qualitative Disclosures about Market Risk 62 4. Controls and Procedures 64

- OTHER INFORMATION

PART II - OTHER INFORMATION 1. Legal Proceedings 64 2. Unregistered Sales of Equity Securities and Use of Proceeds 65 5. Other Information 66 6. Exhibits 67

Signatures

Signatures 68 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 SALES ( NOTE 3 ) $ 173,609 $ 208,865 $ 341,706 $ 387,947 Costs and Expenses Cost of sales ( 138,671 ) ( 168,410 ) ( 271,851 ) ( 317,576 ) Selling and general expenses ( 20,603 ) ( 18,952 ) ( 39,581 ) ( 35,729 ) Other operating expense, net ( Note 14 ) ( 1,894 ) ( 1,401 ) ( 1,623 ) ( 3,917 ) ( 161,168 ) ( 188,763 ) ( 313,055 ) ( 357,222 ) OPERATING INCOME 12,441 20,102 28,651 30,725 Interest expense, net ( 9,811 ) ( 12,457 ) ( 19,555 ) ( 24,158 ) Interest and other miscellaneous income (expense), net 905 11,644 ( 4,087 ) 21,197 INCOME BEFORE INCOME TAXES 3,535 19,289 5,009 27,764 Income tax (expense) benefit ( Note 16 ) ( 500 ) ( 193 ) 332 ( 1,230 ) NET INCOME 3,035 19,096 5,341 26,534 Less: Net income attributable to noncontrolling interests in the Operating Partnership ( 26 ) ( 318 ) ( 46 ) ( 492 ) Less: Net (income) loss attributable to noncontrolling interests in consolidated affiliates ( 1,106 ) 245 ( 2,035 ) 1,281 NET INCOME ATTRIBUTABLE TO RAYONIER INC. 1,903 19,023 3,260 27,323 OTHER COMPREHENSIVE INCOME (LOSS) Foreign currency translation adjustment, net of income tax effect of $ 0 , $ 0 , $ 0 and $ 0 6,014 ( 9,203 ) ( 10,937 ) ( 12,937 ) Cash flow hedges, net of income tax effect of $ 892 , $ 560 , $ 973 and $ 247 198 11,942 3,164 ( 378 ) Pension and postretirement benefit plans, net of income tax effect of $ 0 , $ 0 , $ 1,222 and $ 0 — 2 9,562 3 Total other comprehensive income (loss) 6,212 2,741 1,789 ( 13,312 ) COMPREHENSIVE INCOME 9,247 21,837 7,130 13,222 Less: Comprehensive income attributable to noncontrolling interests in the Operating Partnership ( 100 ) ( 375 ) ( 83 ) ( 220 ) Less: Comprehensive (income) loss attributable to noncontrolling interests in

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