Rayonier Inc. (RYN) Tops Q4 EPS by 2c, Comments on Outlook
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Rayonier Inc. (NYSE: RYN) reported Q4 EPS of $0.59, $0.02 better than the analyst estimate of $0.57. Revenue for the quarter came in at $434.3 million versus the consensus estimate of $437.3 million.
Outlook
"We are looking forward to another strong performance in 2013," said the company. "In Forest Resources, we expect an improving housing market and strengthening Asian exports to drive higher sawlog demand and prices. In Real Estate, we anticipate a significantly improved year driven by higher demand for our non-strategic properties and continued solid interest for our rural recreational and conservation properties. In Performance Fibers, 2013 will be a transition year as we bring the CSE project online, begin qualifying our new cellulose specialties product with customers and exit the absorbent materials business. However, we again expect strong results from this business, although below last year’s record results, primarily due to additional costs and lower volumes from the CSE transition, and weaker absorbent materials prices.
"Overall, excluding the impact of the sale of our Wood Products business, we expect operating income and EPS will be slightly above 2012, and that CAD will increase by 5 to 10 percent. A primary focus for 2013 will be successful completion of the CSE project which, along with closing the sale of our Wood Products business, will achieve our manufacturing strategy of exiting commodity markets and focusing operations on cellulose specialties," concluded Boynton.
For earnings history and earnings-related data on Rayonier Inc. (RYN) click here.
Outlook
"We are looking forward to another strong performance in 2013," said the company. "In Forest Resources, we expect an improving housing market and strengthening Asian exports to drive higher sawlog demand and prices. In Real Estate, we anticipate a significantly improved year driven by higher demand for our non-strategic properties and continued solid interest for our rural recreational and conservation properties. In Performance Fibers, 2013 will be a transition year as we bring the CSE project online, begin qualifying our new cellulose specialties product with customers and exit the absorbent materials business. However, we again expect strong results from this business, although below last year’s record results, primarily due to additional costs and lower volumes from the CSE transition, and weaker absorbent materials prices.
"Overall, excluding the impact of the sale of our Wood Products business, we expect operating income and EPS will be slightly above 2012, and that CAD will increase by 5 to 10 percent. A primary focus for 2013 will be successful completion of the CSE project which, along with closing the sale of our Wood Products business, will achieve our manufacturing strategy of exiting commodity markets and focusing operations on cellulose specialties," concluded Boynton.
For earnings history and earnings-related data on Rayonier Inc. (RYN) click here.
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