Rayonier: 2Q Earnings Snapshot
YULEE, Fla. (AP) _ Rayonier Inc. (RYN) on Wednesday reported second-quarter profit of $36.3 million.
On a per-share basis, the Yulee, Florida-based company said it had profit of 28 cents.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The forest products company posted revenue of $245.9 million in the period.
Rayonier expects full-year earnings to be 63 cents to 68 cents per share.
Rayonier shares have climbed 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $34.92, a rise of 19 percent in the last 12 months.