Rayonier reported second quarter 2026 GAAP earnings of $19 million, or $0.06 per share, with adjusted net income of $32 million, or $0.10 per share, and adjusted EBITDA of $124 million. The company also announced a tax-efficient like-kind exchange with Resource Management Service involving the sale of approximately 36,000 acres in Southwest Washington for $145 million and the acquisition of approximately 57,000 acres in Texas and Alabama for $146 million. Southern Timber adjusted EBITDA rose 85% to $53 million, Northwest Timber adjusted EBITDA increased to $26 million from $7 million, Wood Products generated $25 million, and Real Estate adjusted EBITDA was $38 million. Rayonier repurchased 3.5 million shares for $72 million in the quarter and has $126 million remaining under its authorization. Full-year harvest guidance is 12.2 million to 12.5 million tons for Southern Timber and 2 million to 2.2 million tons for Northwest Timber, with Real Estate adjusted EBITDA expected between $180 million and $200 million.
Rayonier IncQ2 earnings beat and strong segment results, plus share repurchases.
