Rayonier (RYN) Tops Q2 EPS by 10c
Get Alerts RYN Hot Sheet
Join SI Premium – FREE
Rayonier (NYSE: RYN) reported Q2 EPS of $0.28, $0.10 better than the analyst estimate of $0.18. Revenue for the quarter came in at $245.9 million versus the consensus estimate of $193.04 million.
Outlook
“Based on our solid first half results and our expectations for the balance of the year, we now anticipate full-year net income attributable to Rayonier of $82 to $89 million, EPS of $0.63 to $0.68 and Adjusted EBITDA of $300 to $315 million,” added Nunes. “We expect to achieve our prior full-year volume guidance in each of our three timber segments, although we anticipate lower volumes in the second half of the year relative to the first half of the year, primarily due to elevated first half harvest levels in response to strong market conditions. We continue to expect that overall pricing in the Southern Timber segment will be relatively flat, as price increases in certain regions will generally be offset by the geographic mix of harvest volumes. In the Pacific Northwest Timber segment, we expect a relatively stable pricing environment driven by continued strong domestic market conditions, although we expect a modest decline in our weighted-average prices based on product mix. In the New Zealand Timber segment, we expect some softening in export prices, primarily due to market uncertainty resulting from the ongoing trade tensions between the U.S. and China. While we believe that fundamental export market conditions remain favorable, we are continuing to monitor the trade dispute between the U.S. and China and the potential impacts on our business. In our Real Estate segment, we expect very light activity in the third and fourth quarters following extraordinarily strong first and second quarters, as the timing of closings was heavily weighted to the first half of the year.”
For earnings history and earnings-related data on Rayonier (RYN) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Midday movers: Meta, IBM, Caterpillar fall; Chipotle rises
- Hertz Global (HTZ) misses earnings expectations as fleet costs weigh
- First Resource Bank (FRSB) Tops Q1 EPS by 43c
Create E-mail Alert Related Categories
Earnings, GuidanceRelated Entities
Raising Prices, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!