Filing Flows › Rayonier (RYN) › Q1 2026 › vs Q1 2025
Rayonier (RYN) Q1 2026 vs Q1 2025 (year over year)
Rayonier's revenue rose $194M (+234%) from $82.9M in Q1 2025 to $277M in Q1 2026. The biggest changes: Total Real Estate Sales +$49.7M (+504%); Rural +$44.2M (+837%); Sawtimber +$27.1M (+68%).
Rayonier, Q1 2026: revenue $277M (+234% year over year), operating margin -16.5%, net loss $12.5M, operating cash flow $34.6M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Free cash flow margin | 10.9% | 28.5% | -17.6 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Total Stumpage | $25.3M | $19.6M | $5.8M | +29% |
| Pulpwood | $25.0M | $21.1M | $3.9M | +19% |
| Total Non-Timber Sales | $15.2M | $10.5M | $4.7M | +45% |
| Improved Development | $6.6M | $3.3M | $3.3M | +100% |
| Sawtimber | $66.7M | $39.7M | $27.1M | +68% |
| Total Real Estate Sales | $59.5M | $9.9M | $49.7M | +504% |
| Rural | $49.4M | $5.3M | $44.2M | +837% |
| License Revenue, Primarily From Hunting | $7.9M | $5.3M | $2.6M | +49% |
| Revenue | $277M | $82.9M | $194M | +234% |
| Income tax benefit | $39.4M | −$291K | $39.7M | — |
| Net loss | $12.5M | $3.1M | $9.4M | +306% |
| Costs & expenses | $329M | $86.0M | $243M | +282% |
| Operating costs | $322M | $82.9M | $240M | +289% |
| Interest & other, net | $6.3M | $2.9M | $3.4M | +121% |
| Cost of revenue | $230M | $65.0M | $165M | +255% |
| SG&A | $21.7M | $16.7M | $5.0M | +30% |
| Other operating costs | $70.4M | $1.2M | $69.2M | 58× |
| Operating cash sources | $47.1M | $30.8M | $16.3M | +53% |
| Share-based compensation | $15.4M | $2.3M | $13.1M | +576% |
| Working capital & other | $31.7M | $28.5M | $3.2M | +11% |
| Net loss absorbed | $12.5M | $3.1M | $9.4M | +306% |
| Operating cash flow | $34.6M | $27.7M | $6.9M | +25% |
| Free cash flow (OCF − capex) | $30.0M | $23.6M | $6.4M | +27% |
| Capital expenditures | $4.5M | $4.1M | $454K | +11% |
Questions
How much did Rayonier's revenue grow year over year in Q1 2026?
Rayonier's revenue rose $194M (+234%) from $82.9M in Q1 2025 to $277M in Q1 2026.
What drove Rayonier's revenue change in Q1 2026?
Total Real Estate Sales +$49.7M (+504%); Rural +$44.2M (+837%); Sawtimber +$27.1M (+68%).