Rayonier Inc. reported 4Q 2021 net income of $8.7 million, or $0.06 per share, on revenues of $262.0 million. This compares to net income of $10.3 million, or $0.07 per share, on revenues of $205.5 million in the prior year quarter.
4Q 2021 operating income was $33.5 million versus $22.4 million in the prior year period. 4Q 2021 Adjusted EBITDA5 was $50.4 million versus $74.5 million in the prior year period.
Full-year 2021 net income was $152.6 million, or $1.08 per share, on revenues of $1.1 billion. This compares to net income of $37.1 million, or $0.27 per share, on revenues of $859.2 million in the prior year. Full-year operating income was $269.8 million versus $74.4 million in the prior year. Full-year Adjusted EBITDA5 was $329.8 million versus $267.4 million in the prior year.
“We concluded the year with solid operational results and are very pleased with our overall full-year 2021 financial performance,” said David Nunes, President and CEO. “We achieved record full-year Adjusted EBITDA results in both our Southern Timber and Pacific Northwest Timber segments, despite contending with increased costs as well as volume constraints driven by inclement weather conditions. Our New Zealand Timber segment achieved our third highest-ever full-year Adjusted EBITDA result, despite navigating myriad export market challenges and COVID-related headwinds during the course of the year. As we look to 2022, we are encouraged by robust end-market demand and believe we are well-positioned to capitalize on favorable pricing momentum across many of our timber markets, as well as continued strong interest in rural land and entitled development properties.”
Rayonier is a leading timberland real estate investment trust with assets located in some of the most productive softwood timber growing regions in the United States and New Zealand.
