good Thanks, morning, and Collin, everyone.
the timber Estate year. and for our Zealand Financial discuss our Resource New like third Officer, will quarter consolidated well review as well comments ask release on results balance Before our And yesterday financial over I'll shareholder as Then President U.S. executive of plan timber reviewing our as as of earnings our succession X Executive review Officer, Mark of I'd the and it afternoon. and Vice Chief Mark high-level our to the results provide President Doug value. the to quarter, a on Chief results. following made Real to with discuss some the before We'll for initiatives concurrent turning outlook enhance Long, segments, to our announcements to review first then our McHugh, the comment results.
as last years. lead March and Officer Board over As the been Chief announced Rayonier XXXX. member a our X XX, Rayonier afternoon, honor privilege be of to effective of and Executive It's retiring I'll yesterday an
in remarkable no specialty have to a from portfolio, land people culture like XXXX, of We maintain generation have manufacturing quality I'm focus improve our continuously on growth excited of become our opportunities we our worked and of about pulp in the for timber to shareholders emerging long-term and pure-play cultivated driving value our leading Since leadership. invested a and very spin-off for other. timber company ahead that relentless and business next its people REIT. fabulous the the assets the the have lie
multiyear sale held Chief under has We the company on of process, the challenge. become while Financial position he's for President a April Board as are plan disconnect between Officer well value people accretion he's responsibility increasing for also Chief and as while share we to been assuming of price. that an will has already last now leadership.
I'd assets priority take Mark We're demonstrated XXXX. asset that our ready the evaluating respected succession April for into as our in the class since grown as we asset bringing Vice the a relentless the organization. this of in the Rayonier. to time that of of leaves her has a held a Rayonier has this future my this accounting to another President has to seamless excited the have I of taken President. the and on significantly This April the effective partner during allowing reduce helped part since assume the to appointment to We that as ultimately will He of plan. congratulate believe for since acumen years our Senior less several and our his and His the multiple about enhance leverage a planning XXXX. today. retirement, valuation ago, initiatives positioned financial advantage and his and motivated are us opportunities of like the X, also Accounting will of XXXX served well-constructed as understanding as transition continuing announcements culmination who running have base focuses private his since Mark the which position has served invaluable for April Since the I to Tice, our to translate Officer, finance to execute his has turn and leader Vice Officer and President also as role Mark deep this like strategic Chief within duties maintaining succession years while his of to shareholder looking a a been allocation company's for December this he initiative be commit market on X focus timber As responsibilities our the confident joined steps she capital history that Mark that also Financial began to department nearly has extremely year, CFO yesterday, disconnect with XXXX. significant time, released me upon CEO more to January future.
I'd of announcement since combined drive company implied by one earlier value on our through finance us valuation which and well we Rayonier year, transformational timberland widened These positions reflect values us shareholders.
flexibility. our XX or allocation balance target capital equal over allow historically of public return we to and capitalize costs disconnect on debt meaningful between announced us debt enhance our reduce sheet the strength select the of EBITDA, plan, we sales the adjusted to capital to target values private which than the shareholders.
Pursuant to to are to reinforce market adjusting timberland Xx less to $X and our future Specifically, net leverage will our wide a plan order billion next months in and to asset
confident of longer for value that generate will significant interest positioning for shareholders rate our this environment. while higher are better plan also a accretion for the the company We potential
in an important we sell we of immediately quarter Oregon Northwest or to the as plan, originally the As of our Oregon be Oregon announce fourth have this million time. over per Expected We intention this the acres disposition pleased well to agreement in our and share. with year, scale rebalance as Manulife to clients. are to step per reduce CAD for entered will in in $XXX Pacific profile the property that acre of XXXX to Management Southwest acquired to in behalf to leverage $X,XXX effectuating class XX,XXX into age Timberland in this accretive close an on Investment Southwest gain first
region in presence highly market the by to for However, our flow has competitive been in quality assets coupled the opportunity deal the limited increase limited relatively area. with the a
asset our believe out of this shareholders. and a proceeds enhancing recycling we reduction result, property a capital directing As debt albeit towards value high-quality for is
from proceeds, have CAD the We the forma in on of disposition rate adjusted to expect impacts to the will forma Northwest SOFR next current Oregon this debt. over of debt cash The property result annually our timberland flow operating class based from pro Washington. plan disposition into focus rate, and other translate capital our young and more of will disposition We for immediately on Pacific will remaining savings on $X.X the in million minimal that a for to retained the profile age to application repayment interest pay million approximately a accretive. due X.Xx its shareholders. it net future concentrated leverage will use or be decline of making to the $XXX This our proceeds EBITDA. to disposition down debt only relatively properties decade return will Pro floating
cost until our decline will and debt Our approximately to of average XXX% X.X% August weighted fixed XXXX. debt be will of
and disposition In accretion per addition, we generate approximately will CAD proceeds of share expect application of that X%. the
there remains how shareholders. strong while are disposition leverage and the of As identifying in also private achieve for our bid returning additional we targets to targets process best to timberland capital in market, the assets a new
presentation we posted public see to timberland This and transactions. on keen shareholder plan disposition market prudent values a our management management. website, and underscores balance Oregon portfolio markets to sheet the our in our implied have outlines provides value, which focus currently regarding supplemental the private active between and disconnect We the additional details nimble enhance allocation, initiatives illustrates capital
Estate $XX Now million share. year million segments and or quarter, generated of I of gears Real the per operating third sales $XX segment from In our credit forma Timber quarter, by segment, and discuss to relative New will switch EBITDA higher our in quarter Timber the Zealand year adjusted third Timber volumes $X.XX EBITDA our we achieved adjusted down million adjusted increased carbon driven quarter.
Drilling income In our by collectively million, Southern the net X% segment. on our prior further segment pro harvest in EBITDA total our prior The and we up $X results. results. of in higher generated $XX
The to prior Our $X year adjusted year prior up net primarily domestic EBITDA million than demand. reflected to volumes, and the million adjusted completed was weaker to Northwest driven a the quarter, market by million, in late XX% a of Timber $X reduction in Pacific harvest the a period from the than were third Southern in due In in drier the $XX sawtimber in year Overall, domestic acquisitions demand down region EBITDA versus $X in prior offset increase our conditions. prices. period volumes weaker quarter which Timber from decline generated harvest due XX% segment, and export year conditions market improvement segment weather realizations stumpage quarter and a the due period. prior X% XXXX, more million softer of XX% third decline
Turning to our Timber segment. New Zealand
of quarter. higher New compared quarter results prior the credit export a number we up In acres by year revenues $XX lower quarter, stumpage Third Real Estate million, increased on of to higher driven and our EBITDA period, a and significant reflecting both adjusted in $XX partially of we third net EBITDA segment, carbon uptick prior $X year from markets carbon reflecting credit the weaker during quarter million realizations, were pricing versus $XX The prior adjusted by pricing. period. the the million capitalized Zealand year domestic primarily stronger as offset generated million improved sold
we of track end higher EBITDA financial are the to adjusted detail of quarter details our third will our guidance EBITDA let on over Mark in $XXX me the call, million.
With higher to full Mark our the $XXX adjusted -- of on achieve a achieve full guidance call range more turn to range As for results. year year that, million later end
