Rayonier Inc. reported 2Q 2020 net income of $1.7 million, or $0.01 per share, on revenues of $195.6 million. This compares to net income of $18.8 million, or $0.14 per share, on revenues of $184.8 million in the prior year quarter.

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Rayonier's 2Q revenues increased to $195.6 million

Rayonier Inc. reported 2Q 2020 net income of $1.7 million, or $0.01 per share, on revenues of $195.6 million. This compares to net income of $18.8 million, or $0.14 per share, on revenues of $184.8 million in the prior year quarter.

2Q 2020 operating income was $11.7 million versus $31.4 million in the prior year period. The current quarter operating income included costs related to the merger with Pope Resources of $13.5 million and operating loss attributable to noncontrolling interest in Timber Funds of $2 million.

Excluding these items, current quarter pro forma operating income was $27.2 million. 2Q 2020 Adjusted EBITDA was $78.6 million versus $60.6 million in the prior year period.

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.