Rayonier (RYN) Misses Q2 EPS by 2c, Offers Outlook

Rayonier (NYSE: RYN) reported Q2 EPS of $0.00, $0.02 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $115.8 million versus the consensus estimate of $123.42 million.

Outlook

“We remain on track to achieve our full-year Adjusted EBITDA guidance,” stated Nunes. “In our Southern Timber segment, we anticipate continued strong pulpwood demand and prices in our key market areas. We continue to expect that the gradual improvement in U.S. housing demand will drive increases in Southern sawtimber prices over the long term; however, we expect limited upside to current prices through the remainder of 2015. In our Pacific Northwest and New Zealand segments, we anticipate near-term weakness in the China export market will weigh on prices but that export demand will gradually improve, although likely at a slower pace than we expected earlier in the year. In our Real Estate segment, we continue to see steady demand for rural properties and increasing interest in selected development properties as we execute on our strategy and develop catalysts for demand.”

“In addition, as announced separately today, we entered into a credit agreement with CoBank, ACB, as administrative agent, and a syndicate of Farm Credit institutions and other commercial banks to provide $550 million of new credit facilities, which we expect will lower our overall interest expense, improve the capital structure and cash flows of our New Zealand joint venture, and allow for continued disciplined capital allocation to improve our overall portfolio and contribute to stronger cash flows.”

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

You May Also Be Interested In

• Schlumberger (SLB) earnings in-line, revenue beats expectations
• BCB Bancorp (BCBP) Misses Q1 EPS by 2c
• Park National Corp. (PRK) Tops Q1 EPS by 36c