Rayonier: 2Q Earnings Snapshot
WILDLIGHT, Fla. (AP) _ Rayonier Inc. (RYN) on Wednesday reported second-quarter earnings of $18.8 million.
The Wildlight, Florida-based company said it had profit of 14 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The forest products company posted revenue of $184.8 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $196.1 million.
Rayonier expects full-year earnings to be 42 cents to 49 cents per share.
Rayonier shares have climbed 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $28.25, a fall of 17% in the last 12 months.