Rayonier Reports Second Quarter 2023 Results
Retrieved on:
Wednesday, August 2, 2023
Other Construction & Property, Forest Products, Residential Building & Real Estate, Commercial Building & Real Estate, Natural Resources, Construction & Property, REIT, Maintenance, Travel, NZU, Pacific Northwest, CAD, GAAP, Carbon, HBU, Public expenditure, US, EBITDA, Webcast, New Zealand Timber Museum, Weather, EPS, Growth, Transport, Adjustment, Real estate, Lumber, Silviculture, Oil, Broadcasting, Sales, Rayonier, Wildlight (photo agency), Wood
“While overall market sentiment has improved versus the first quarter of this year, our second quarter results reflect ongoing macroeconomic challenges and weaker end-market demand as compared to the prior year,” said David Nunes, CEO.
Key Points:
- “While overall market sentiment has improved versus the first quarter of this year, our second quarter results reflect ongoing macroeconomic challenges and weaker end-market demand as compared to the prior year,” said David Nunes, CEO.
- Second quarter Adjusted EBITDA2 of $43.6 million was 13%, or $4.9 million, above the prior year period.
- Second quarter sales of $32.3 million decreased $6.8 million, or 17%, versus the prior year period.
- Second quarter sales of $15.4 million decreased $12.3 million versus the prior year period due to lower volumes and prices.