Exceeded Full-Year Adjusted EBITDA Guidance
Rayonier Inc. delivered a full-year adjusted EBITDA of $299 million, roughly 3% above the high end of their prior guidance range and slightly above the prior year.
Strong Real Estate Segment Performance
The Real Estate segment delivered adjusted EBITDA of $63 million in the fourth quarter, up $10 million from the prior year period, driven by high premiums above Timberland value and strong sales.
Significant Timberland Dispositions
Successfully closed on $495 million of large dispositions, totaling approximately 200,000 acres during the fourth quarter, reducing leverage and returning capital to shareholders.
New Zealand Timber Segment Improvement
Fourth quarter adjusted EBITDA increased by $8 million year-over-year due to favorable foreign exchange impacts, higher volume, higher net stumpage realizations, and lower costs.
Reduction in Net Leverage
Net leverage reduced to below three times, returning over $110 million of capital to shareholders in the form of cash special dividends and share repurchases.