Rayonier sees FY24 pro forma EPS 36c-40c, consensus 37c

“Based on our year-to-date results and our expectations for the fourth quarter, we now expect full-year net income attributable to Rayonier (RYN) of $343 to $359 million, EPS of $2.30 to $2.40, pro forma EPS of $0.36 to $0.40, and Adjusted EBITDA of $275 to $290 million,” added McHugh. “Our revised expectations for the year reflect slightly lower harvest volumes due to our recently announced timberland dispositions. As communicated previously, our prior financial guidance excluded the potential impact of 2024 asset sales as part of the $1 billion disposition target that we announced in November 2023. Our revised guidance reflects the impact of removing forecasted harvest volume from the disposition properties, as harvesting activities generally ceased on these properties around mid-year in preparation for the sale process.”