- Fourth quarter net income attributable to Rayonier of $10.3 million ($0.07 per share) on revenues of $205.5 million
- Fourth quarter pro forma net income of $11.0 million ($0.08 per share) on pro forma revenues of $196.3 million
- Fourth quarter operating income of $22.4 million, pro forma operating income of $22.4 million and Adjusted EBITDA of $74.5 million
- Full-year net income attributable to Rayonier of $37.1 million ($0.27 per share) on revenues of $859.2 million
- Full-year pro forma net income of $33.5 million ($0.25 per share) on pro forma revenues of $720.4 million
- Full-year operating income of $74.4 million, pro forma operating income of $82.3 million and Adjusted EBITDA of $267.4 million
- Full-year cash provided by operations of $204.2 million and cash available for distribution (CAD) of $162.4 million
WILDLIGHT, Fla. -- Rayonier Inc. (NYSE:RYN) today reported fourth quarter net income attributable to Rayonier of $10.3 million, or $0.07 per share, on revenues of $205.5 million. This compares to net income attributable to Rayonier of $16.0 million, or $0.12 per share, on revenues of $178.8 million in the prior year quarter. The fourth quarter results included costs related to the merger with Pope Resources1 of $0.7 million. Excluding this item, pro forma net income2 was $11.0 million, or $0.08 per share, versus $16.0 million, or $0.12 per share, in the prior year quarter.
Fourth quarter operating income was $22.4 million versus $26.1 million in the prior year period. The current quarter operating income included costs related to the merger with Pope Resources1 of $0.7 million. Excluding this item and adjusting for $0.7 million of operating income attributable to noncontrolling interest in the Timber Funds segment, current quarter pro forma operating income2 was also $22.4 million. Fourth quarter Adjusted EBITDA2 was $74.5 million versus $65.0 million in the prior year period.
Source: Rayonier
