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Rayonier Inc (RYN) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

RYN Quarterly Reports

Rayonier Inc

CIK: 52827 Ticker: RYN
Exhibit 99.1

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News Release

RAYONIER REPORTS FIRST QUARTER 2020 RESULTS

First quarter net income attributable to Rayonier of $25.9 million ($0.20 per share) on revenues of $259.1 million
First quarter pro forma net loss of $0.3 million ($0.00 per share) on pro forma revenues of $143.1 million
First quarter operating income of $38.6 million, pro forma operating income of $12.4 million and Adjusted EBITDA of $47.1 million
First quarter cash provided by operations of $29.2 million and cash available for distribution (CAD) of $27.2 million
WILDLIGHT, FL — April 29, 2020 — Rayonier Inc. (NYSE:RYN) today reported first quarter net income attributable to Rayonier of $25.9 million, or $0.20 per share, on revenues of $259.1 million. This compares to net income attributable to Rayonier of $24.8 million, or $0.19 per share, on revenues of $191.5 million in the prior year quarter. The first quarter results included $28.7 million of income from a Large Disposition,
1 partially offset by costs related to the merger with Pope Resources2 of $2.5 million. Excluding these items, pro forma net loss3 was $0.3 million, or $0.00 per share, on pro forma revenues3 of $143.1 million.
The following table summarizes the current quarter and comparable prior year period results:
Three Months Ended
(millions of dollars, except earnings per share (EPS))March 31, 2020March 31, 2019
$EPS$EPS
Revenues$259.1  $191.5  
Large Dispositions1
(116.0) —  
Pro forma revenues3
$143.1  $191.5  
Net income attributable to Rayonier$25.9  $0.20  $24.8  $0.19  
Costs related to the merger with Pope Resources2
2.5  0.02  —  —  
Large Dispositions1
(28.7) (0.22) —  —  
Pro forma net (loss) income3
($0.3) —  $24.8  $0.19  
First quarter operating income was $38.6 million versus $38.5 million in the prior year period. The current quarter operating income included $28.7 million of income from a Large Disposition,1 partially offset by costs related to the merger with Pope Resources2 of $2.5 million. Excluding these items, current quarter pro forma operating income3 was $12.4 million. First quarter Adjusted EBITDA3 was $47.1 million versus $79.0 million in the prior year period.

1 Rayonier Way, Wildlight, FL 32097 904-357-9100

The following information was filed by Rayonier Inc (RYN) on Wednesday, April 29, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Rayonier Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Changes In Shareholders' Equity (Unaudited)
Consolidated Statements Of Changes In Shareholders' Equity (Unaudited) (Parenthetical)
Consolidated Statements Of Income And Comprehensive Income (Unaudited)
Consolidated Statements Of Income And Comprehensive Income (Unaudited) (Parenthetical)
Accumulated Other Comprehensive (Loss) Income
Accumulated Other Comprehensive (Loss) Income (Schedule Of Components) (Details)
Accumulated Other Comprehensive (Loss) Income (Tables)
Accumulated Other Comprehensive (Loss) Income - Reclassified Aoci (Details)
Basis Of Presentation
Basis Of Presentation (Details)
Basis Of Presentation (Policies)
Commitments
Commitments (Future Minimum Payments) (Details)
Commitments (Tables)
Consolidating Financial Statements
Consolidating Financial Statements (Narrative) (Details)
Consolidating Financial Statements (Tables)
Consolidating Financial Statements - Balance Sheets (Details)
Consolidating Financial Statements - Cash Flows (Details)
Consolidating Financial Statements - Income And Comprehensive Income (Details)
Contingencies
Debt
Debt (Narrative) (Details)
Debt (Schedule Of Long Term Debt) (Details)
Debt (Schedule Of Long Term Maturities) (Details)
Debt (Tables)
Derivative Financial Instruments And Hedging Activities
Derivative Financial Instruments And Hedging Activities (Balance Sheet Location) (Details)
Derivative Financial Instruments And Hedging Activities (Income Statement Location) (Details)
Derivative Financial Instruments And Hedging Activities (Interest Rate Swaps) (Details)
Derivative Financial Instruments And Hedging Activities (Narrative) (Details)
Derivative Financial Instruments And Hedging Activities (Notional Amounts) (Details)
Derivative Financial Instruments And Hedging Activities (Tables)
Earnings Per Common Share
Earnings Per Common Share (Antidilutive Securities) (Details)
Earnings Per Common Share (Schedule Of Earnings Per Share, Basic And Diluted) (Details)
Earnings Per Common Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Details)
Employee Benefit Plans (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Fair Value Measurements - Unrealized Gain Position (Details)
Guarantees
Guarantees (Details)
Guarantees (Tables)
Higher And Better Use Timberlands And Real Estate Development Investments
Higher And Better Use Timberlands And Real Estate Development Investments (Details)
Higher And Better Use Timberlands And Real Estate Development Investments (Tables)
Income Taxes
Income Taxes (Details)
Income Taxes (Tables)
Inventory
Inventory (Details)
Inventory (Tables)
Leases
Leases (Tables)
Leases - Lease Cost (Details)
Leases - Lease Maturities (Details)
Leases - Narrative (Details)
Leases - Supplemental Cash Flow (Details)
New Zealand Subsidiary
New Zealand Subsidiary (Details)
Other Operating (Expense) Income, Net
Other Operating (Expense) Income, Net (Details)
Other Operating (Expense) Income, Net (Tables)
Restricted Cash
Restricted Cash (Tables)
Restricted Cash - Narrative (Details)
Restricted Cash - Schedule Of Restricted Cash (Details)
Revenue
Revenue (Contract Liability) (Details)
Revenue (Disaggregation Of Revenue By Contract Type) (Details)
Revenue (Disaggregation Of Revenue By Product) (Details)
Revenue (Tables)
Segment And Geographical Information
Segment And Geographical Information (Schedule Of Depreciation, Depletion And Amortization) (Details)
Segment And Geographical Information (Schedule Of Non-Cash Cost Of Land And Improved Development) (Details)
Segment And Geographical Information (Schedule Of Operating Income (Loss)) (Details)
Segment And Geographical Information (Schedule Of Segment Sales) (Details)
Segment And Geographical Information (Tables)
Ticker: RYN
CIK: 52827
Form Type: 10-Q Quarterly Report
Accession Number: 0000052827-20-000117
Submitted to the SEC: Fri May 01 2020 5:21:29 PM EST
Accepted by the SEC: Fri May 01 2020
Period: Tuesday, March 31, 2020
Industry: Real Estate Investment Trusts

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