Rayonier Inc. Q2 adjusted earnings Beat Estimates

(RTTNews) - Rayonier Inc. (RYN) reported a profit for its second quarter that increased from last year.

The company's earnings totaled $57.2 million, or $0.41 per share. This compares with $1.7 million, or $0.01 per share, in last year's second quarter.

Excluding items, Rayonier Inc. reported adjusted earnings of $31.0 million or $0.22 per share for the period.

Analysts had expected the company to earn $0.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 49.0% to $291.4 million from $195.6 million last year.

Rayonier Inc. earnings at a glance:

-Earnings (Q2): $31.0 Mln. vs. $15.2 Mln. last year. -EPS (Q2): $0.22 vs. $0.11 last year. -Analysts Estimate: $0.09 -Revenue (Q2): $291.4 Mln vs. $195.6 Mln last year.

-Guidance: Full year EPS guidance: $0.51 to $0.57