Rayonier's Q4 Earnings Beat Estimates, Revenues Rise Y/Y

Rayonier, Inc. RYN reported a fourth-quarter 2024 pro-forma net income of 27 cents per share, beating the Zacks Consensus Estimate of 19 cents. The reported figure compares favorably with the prior-year quarter’s 17 cents.See the Zacks Earnings Calendar to stay ahead of market-making news.Results reflect better-than-anticipated pro-forma net income. The company’s Southern Timber, New Zealand Timber and Real Estate segments displayed solid results. However, weakness in the Pacific Northwest Timber and Trading segments was noticed.Total revenues were $726.3 million, which surpassed the Zacks Consensus Estimate of $203 million. On a year-over-year basis, the figure increased 55.4%. Adjusted EBITDA came in at $115.1 million, up from $93.7 million in the prior-year period.According to Mark McHugh, president and CEO of Rayonier, “Our full-year 2024 financial performance demonstrates our resilience and nimble execution amid persistent market headwinds.”In 2024, RYN reported pro forma net income per share of 47 cents, up from 36 cents in the prior year. The figure was above the Zacks Consensus Estimate of 38 cents. Total revenues of $1.26 billion increased 19.5% year over year. The figure outpaced the Zacks Consensus Estimate of $740 million.RYN’s Segmental PerformanceIn the fourth quarter, the pro-forma operating income in the company’s Southern Timber segment came in at $18 million, which increased 31.4% from the prior-year quarter. The rise was due to higher non-timber income, lower costs and lower depletion expense, partly offset by lower volumes and lower net stumpage realizations.The Pacific Northwest Timber segment reported a pro-forma operating loss of $1.3 million compared to a loss of $2.5 million a year ago. This was driven by lower costs, lower depletion expenses and higher non-timber income, partially offset by lower net stumpage realizations.The New Zealand Timber segment recorded pro-forma operating income of $14.2 million, up from the year-earlier quarter’s $6.8 million. This rise was due to favorable foreign exchange impacts, higher volumes, higher net stumpage realizations, lower costs and lower depletion rates, partially offset by lower carbon credit income.Real Estate’s pro-forma operating income was $35 million, up from $32.8 million reported in the year-ago period. The higher weighted-average prices led to the rise, partially offset by lower acres sold.The Trading segment reported an operating loss of $0.1 million against an operating income of $0.1 million in the prior-year quarter.RYN’s Balance SheetRayonier exited the fourth quarter of 2024 with $323.2 million in cash and cash equivalents, up from $74.2 million as of Sept. 30, 2024.RYN’s 2025 OutlookManagement expects full-year net income attributable to Rayonier in the band of $79-$100 million and earnings per share (EPS) of 51 cents to 64 cents. The Zacks Consensus Estimate for 2025 EPS is currently pegged at 53 cents.The adjusted EBITDA is anticipated to be between $270 million and $300 million.Its full-year guidance excludes the potential impact of any additional asset sales as part of the $1 billion disposition target that the company announced in November 2023.Currently, Rayonier carries a Zacks Rank #3 (Hold). Rayonier Inc. Price, Consensus and EPS Surprise Rayonier Inc. price-consensus-eps-surprise-chart | Rayonier Inc. Quote Performance of Other REITsSimon Property Group, Inc.’s SPG fourth-quarter 2024 funds from operations (FFO) per share of $3.68 surpassed the Zacks Consensus Estimate of $3.40. This compares to an FFO of $3.69 per share a year ago.Results reflected an increase in revenues, backed by a rise in the base minimum rent per square foot and occupancy levels. SPG issued its guidance for 2025 FFO per share. Currently, SPG carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.SL Green Realty Corp. SLG reported fourth-quarter 2024 FFO per share of $1.45, which missed the Zacks Consensus Estimate of $1.53. The company had reported an FFO of 72 cents per share in the previous year.Results reflected lower-than-anticipated revenues despite decent leasing activity in its Manhattan portfolio. Also, higher interest expenses and lower same-store NOI acted as dampeners. Presently, SLG carries a Zacks Rank #2.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Simon Property Group, Inc. (SPG): Free Stock Analysis Report Rayonier Inc. (RYN): Free Stock Analysis Report SL Green Realty Corporation (SLG): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks