Rayonier Inc. Q2 Profit Misses Estimates

(RTTNews) - Rayonier Inc. (RYN) reported earnings for second quarter that missed the Street estimates.

The company's earnings came in at $19.0 million, or $0.13 per share. This compares with $24.1 million, or $0.10 per share, in last year's second quarter.

Excluding items, Rayonier Inc. reported adjusted earnings of $7.8 million or $0.05 per share for the period.

Analysts on average 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 fell 15.2% to $208.9 million from $246.3 million last year.

Rayonier Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $19.0 Mln. vs. $24.1 Mln. last year. -EPS (Q2): $0.13 vs. $0.10 last year. -Analyst Estimates: $0.09 -Revenue (Q2): $208.9 Mln vs. $246.3 Mln last year.

-Guidance: Full year EPS guidance: 0.30 to $0.40