RAYONIER INC

Overview

Rayonier Inc. is a land-resources real estate investment trust focused on sustainable timberland management and realizing value from its land. Its activities include growing and selling timber, manufacturing wood products, and selling or developing land. The company describes its approach as managing timberlands sustainably and putting land to its highest and best use.[1]

Rayonier’s reportable segments are Southern Timber, Northwest Timber, Wood Products and Real Estate. As of June 30, 2026, it owned or long-term leased approximately 4.1 million acres in the United States, principally in the South and Northwest. Its wood-products operations include six sawmills and an industrial-grade plywood mill; products include lumber, plywood and residuals.[1][2]

Following its January 2026 merger with PotlatchDeltic, Rayonier reported $673.3 million in sales to external customers for the first half of 2026.[3][4] [1]+3

Products & services

Rayonier’s timber products include pulpwood, sawtimber and hardwood, sold through stumpage and delivered-wood arrangements. In the first half of 2026, these categories generated $56.9 million, $160.8 million and $3.8 million, respectively—about 8.5%, 23.9% and 0.6% of revenue from customer contracts for the period.[5][3]

Its Wood Products business manufactures lumber, plywood and residual products at seven mills. Products are distributed nationwide to end users, retailers and wholesalers, principally for homebuilding, repair and remodeling, industrial uses and other construction. First-half 2026 sales were $245.8 million for lumber and $58.8 million for plywood, residual products and other, together about 45.3% of customer-contract revenue.[3]+2

Other offerings include hunting-focused land licenses and land-based solutions such as solar and carbon-capture/storage leases, carbon offsets and fiber for bioenergy. Rayonier also sells rural and improved-development land, including parcels with selective entitlements and infrastructure investment; first-half 2026 real-estate contract sales totaled $112.8 million, or about 16.8% of customer-contract revenue. The percentages are calculated from reported first-half 2026 figures; lease revenue is separate from the customer-contract revenue denominator.[7]+3 [5]+17

Geographic presence

As of June 30, 2026, Rayonier reported 4.084 million acres of timberland owned or leased across the Southern and Northwest regions. Its listed holdings span Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, South Carolina, and Texas in the South, and Idaho, Oregon, and Washington in the Northwest.[10][11]

Its wood-products facilities include mills in Arkansas, Idaho, Michigan, and Minnesota. The company describes distribution of these products as nationwide; this indicates sales reach, not the location of its mills.[3][12] Rayonier reports revenue by operating segment rather than by customer country or destination, so its Southern and Northwest segment figures should not be read as geographic sales shares. The FY2025 filing says Southern timber is mostly consumed domestically and that Northwest sales are primarily to domestic lumber customers, with logs also sold to Asia-Pacific countries.[13][14]

For offices, Rayonier’s website describes Atlanta as its “soon to be” headquarters and identifies regional operations in Wildlight, Florida; Spokane, Washington; and El Dorado, Arkansas.[15] [10]+7

Business segments

Rayonier’s latest reported structure has four segments, following its January 2026 merger with PotlatchDeltic: Southern Timber, Northwest Timber, Wood Products, and Real Estate. Northwest Timber includes the expanded timberland operations in Idaho; Wood Products manufactures and sells lumber, plywood, and residual products.[3] For the six months ended June 30, 2026, the segments contributed approximately 26.4%, 11.5%, 45.2%, and 16.8%, respectively, of revenue from external customers.[4]+3

Southern Timber and Northwest Timber focus on timberland operations, including timber sales and related non-timber activities.[16][17] Real Estate covers land and property sales, including improved development, rural, and timberland or non-strategic land sales.[18] Rayonier’s FY2025 annual report used a three-segment structure—Southern Timber, Pacific Northwest Timber, and Real Estate—so those full-year sales contributions predate the merger and are not directly comparable with the 2026 mix.[19][3] [3]+9

Company history

Rayonier traces its origins to 1926, when Rainier Pulp & Paper Company was founded in Shelton, Washington. In 1937, Rainier Pulp & Paper merged with Gray’s Harbor Pulp & Paper and Olympic Forest Products to form Rayonier Incorporated, which began trading publicly on the New York Stock Exchange.[20][21]

In June 2014, Rayonier spun off its Performance Fibers business as Rayonier Advanced Materials, refocusing on timberlands and real estate.[22] In 2020, it completed the acquisition of Pope Resources, adding timberland holdings in the Pacific Northwest.[23] Rayonier completed the sale of its New Zealand operations on June 30, 2025.[24] It later agreed to a merger of equals with PotlatchDeltic, which closed on January 30, 2026; Mark D. McHugh became president and CEO of the combined company.[25][26] [20]+10

Sources

• RAYONIER INC — Full financial report (2026 Q 2)
  10 citations

  [1][2][3][4][5][6][10][11][12][13]
• RAYONIER INC — Full financial report (2025 Y)
  11 citations

  [7][8][9][14][16][17][18][19][22][24][25]
• www.rayonier.com[15]
• ryam.com[20]
• ryam.com[21]
• www.businesswire.com[23]
• ir.rayonier.com[26]