WASHINGTON (dpa-AFX) - Rayonier Inc. (RYN) announced, based on solid first half results, the timberland sale contribution from the New Zealand Timber segment, and expectations for the balance of the year, the company now anticipates full-year net income attributable to Rayonier of $79 to $83 million, pro forma net income $50 to $55 million, and Adjusted EBITDA of $255 to $270 million.
'In our Southern Timber segment, we expect harvest levels to be at the higher end of prior guidance based on our recent acquisitions, while near-term product pricing will continue to be impacted by additional fire salvage volume and changes in regional mix as our summer harvest shifts more heavily to the Gulf States region. In our Pacific Northwest Timber segment, we expect continued strength in sawtimber prices as export and domestic markets continue to improve. In our New Zealand Timber segment, we expect continued strong performance driven by sustained levels of demand in both domestic and export markets. In our Real Estate segment, following a strong second quarter, we expect relatively light closings in the third quarter followed by a strong fourth quarter,' said David Nunes, CEO.
Copyright RTT News/dpa-AFX
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