Rayonier (RYN) Reports In-Line Q4 EPS

Rayonier (NYSE: RYN) reported Q4 EPS of $0.09, in-line with the analyst estimate of $0.09. Revenue for the quarter came in at $147 million versus the consensus estimate of $138.3 million.

“In 2014, we completed the spin-off of the Performance Fibers business and began implementing a realigned strategy designed to enhance long-term shareholder value,” said David Nunes, President and CEO. “Despite organizational challenges associated with our internal review, we were pleased with the underlying operational performance of our assets, improved pricing in our Southern and Pacific Northwest Timber segments, and steady rural land sales in our Real Estate segment.”

Outlook

“In 2015, we expect further improvement in Southern pine sawlog prices as the US housing market and economy continue to slowly recover,” added Nunes. “With the devaluation of the Russian ruble, we expect strong headwinds in the China log export market, which will likely have a negative impact on demand and pricing in our Pacific Northwest segment. We expect a more modest decline in our New Zealand segment, which we expect will lose less market share to Russian log exports. Reflecting our previously announced strategy of harvesting in line with our long-term sustainable yield, we are planning for harvest volumes in the Pacific Northwest to be approximately 14% below 2014 levels, while we expect harvest volumes in the South to be modestly higher than 2014 levels. In our Real Estate segment, we expect a modest decline in rural land sales, while we are planning for significantly lower non-strategic / timberland sales consistent with our strategy of reducing reliance on these sales to augment cash flow.”

For earnings history and earnings-related data on Rayonier (RYN) click here.

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