Rayonier Inc. (NYSE:RYN) Q3 2022 Earnings Conference Call November 3, 2022 10:00 AM ET

Company Participants

Collin Mings - Vice President Capital Markets & Strategic Planning

David Nunes - President & CEO

Mark McHugh - SVP & CFO

Douglas Long - SVP, Forest Resources

Conference Call Participants

Anthony Pettinari - Citi

Ketan Mamtora - BMO Capital Market

Mark Weintraub - Seaport Research Partners

Paul Quinn - RBC Capital Markets

Buck Horne - Raymond James

Operator

Welcome and thank you for joining Rainier's Third Quarter 2022 Teleconference Call. At this time, all participants are in a listen-only mode. [Operator Instructions] Today's conference is being recorded. If you have any objections, you may disconnect at this time.

Now I will turn the meeting over to Mr. Collin Mings Vice President, Capital Markets and Strategic Planning.

Collin Mings

Thank you, and good morning. Welcome to Rayonier's investor teleconference covering third quarter earnings. Our earnings statements and financial supplement were released yesterday afternoon and are available on our website at rayonier.com. I would like to remind you that in these presentations, we include forward-looking statements made pursuant to the safe harbor provisions of federal securities laws.

Our earnings release and Forms 10-K and 10-Q filed with the SEC with some of the factors that may cause actual results to differ materially from the forward-looking statements we may make. They are also referenced on Page 2 of our financial supplement. Throughout these presentations, we will also discuss non-GAAP financial measures, which are defined and reconciled to the nearest GAAP measures in our earnings release and supplemental materials.

With that, let's start our teleconference with opening comments from Dave Nunes, President and CEO. Dave?

David Nunes

Thanks, Collin. Good morning, everyone. First, I'll make some high level comments before turning it over to Mark McHugh, Senior Vice President and Chief Financial Officer to review our consolidated financial results. Then we'll ask Doug Long, Senior Vice President, Forest Resources to comment on our U.S. and New Zealand Timber results. And following the review of our timber segments, Mark will discuss our real estate results as well as our outlook for the remainder of 2022.

Before discussing our results for the quarter, I'd like to first highlight the acquisitions in the U.S. South that we announced yesterday afternoon concurrent with our earnings release. Specifically, we announced that we've entered into two separate agreements to acquire approximately 172,400 acres of high quality commercial timberlands located in Texas, Georgia, Alabama and Louisiana for an aggregate purchase price of $474 million for Manulife Investment Management, a leading timber investment manager.