Rayonier Inc. Files Q3 2024 10-Q Report

TL;DR

**RYN Q3 10-Q FILED** - Financials updated for period ending 9/30/24.

AI Summary

Rayonier Inc. filed its 10-Q for the period ending September 30, 2024. The company, a real estate investment trust, reported financial information for its fiscal year ending December 31. The filing includes data for Rayonier, L.P., with a Central Index Key of 0001806931.

Why It Matters

This filing provides investors with an update on Rayonier's financial performance and operational status for the third quarter of 2024, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial and operational updates.

Key Numbers

• 12/31 — Fiscal Year End (Indicates the end of the company's annual accounting period.)
• Q3 — Quarter (Specifies the reporting quarter as the third quarter.)

Key Players & Entities

• RAYONIER INC (company) — Filer of the 10-Q
• Rayonier, L.P. (company) — Related entity filing financial data
• 20240930 (date) — End of the reporting period
• 20241108 (date) — Filing date

FAQ

Filing Documents

• ryn-20240930.htm (10-Q) — 3823KB
• rayonierincex1013q2024.htm (EX-10.1) — 101KB
• rayonierincex3113q2024.htm (EX-31.1) — 10KB
• rayonierincex3123q2024.htm (EX-31.2) — 10KB
• rayonierlpex3133q2024.htm (EX-31.3) — 10KB
• rayonierlpex3143q2024.htm (EX-31.4) — 10KB
• rayonierincex3213q2024.htm (EX-32.1) — 6KB
• rayonierlpex3223q2024.htm (EX-32.2) — 6KB
• ryn-20240930_g1.jpg (GRAPHIC) — 15KB
• 0000052827-24-000204.txt ( ) — 15722KB
• ryn-20240930.xsd (EX-101.SCH) — 85KB
• ryn-20240930_cal.xml (EX-101.CAL) — 93KB
• ryn-20240930_def.xml (EX-101.DEF) — 488KB
• ryn-20240930_lab.xml (EX-101.LAB) — 851KB
• ryn-20240930_pre.xml (EX-101.PRE) — 734KB
• ryn-20240930_htm.xml (XML) — 3047KB

- 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 Nine Months Ended September 30, 2024 and 2023 1 Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 2 Consolidated Statements of Changes in Shareholders' Equity for the Quarters and Nine Months Ended September 30, 2024 and 2023 3 Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 7 Rayonier, L.P.: Consolidated Statements of Income and Comprehensive Income (Loss) for the Three and Nine Months Ended September 30, 2024 and 2023 8 Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 9 Consolidated Statements of Changes in Capital for the Quarters and Nine Months Ended September 30, 2024 and 2023 10 Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2024 and 2023 12

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 13 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 SALES ( NOTE 3 ) $ 194,993 $ 201,579 $ 536,700 $ 589,526 Costs and Expenses Cost of sales ( 147,202 ) ( 145,622 ) ( 419,053 ) ( 463,197 ) Selling and general expenses ( 18,271 ) ( 18,947 ) ( 57,852 ) ( 54,677 ) Other operating expense, net ( Note 14 ) ( 1,914 ) ( 1,654 ) ( 3,538 ) ( 5,571 ) ( 167,387 ) ( 166,223 ) ( 480,443 ) ( 523,445 ) OPERATING INCOME 27,606 35,356 56,257 66,081 Interest expense, net ( 10,021 ) ( 12,598 ) ( 29,576 ) ( 36,755 ) Interest and other miscellaneous income, net 12,892 529 8,805 21,725 INCOME BEFORE INCOME TAXES 30,477 23,287 35,486 51,051 Income tax (expense) benefit ( Note 16 ) ( 35 ) ( 547 ) 297 ( 1,777 ) NET INCOME 30,442 22,740 35,783 49,274 Less: Net income attributable to noncontrolling interests in the Operating Partnership ( 391 ) ( 320 ) ( 437 ) ( 811 ) Less: Net income attributable to noncontrolling interests in consolidated affiliates ( 1,293 ) ( 3,183 ) ( 3,328 ) ( 1,902 ) NET INCOME ATTRIBUTABLE TO RAYONIER INC. 28,758 19,237 32,018 46,561 OTHER COMPREHENSIVE INCOME (LOSS) Foreign currency translation adjustment, net of income tax effect of $ 0 , $ 0 , $ 0 and $ 0 13,338 ( 4,413 ) 2,402 ( 17,350 ) Cash flow hedges, net of income tax effect of $ 2,312 , $ 75 , $ 1,339 and $ 322 ( 15,827 ) 7,379 ( 12,664 ) 7,002 Pension and postretirement benefit plans, net of income tax effect of $ 0 , $ 0 , $ 1,222 and $ 0 139 2 9,701 4 Total other comprehensive (loss) income ( 2,350 ) 2,968 ( 561 ) ( 10,344 ) COMPREHENSIVE INCOME 28,092 25,708 35,222 38,930 Less: Comprehensive income attributable to noncontrolling interests in the Operating Partnership ( 334 ) ( 373 ) ( 417 ) ( 592 ) Less: Comprehensive income attributable to noncontr

View Full Filing

View this 10-Q filing on SEC EDGAR