Rayonier Reports Third Quarter 2018 Results
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Rayonier (RYN) Tops Q3 EPS by 12c, Revenues Beat
October 31, 2018 4:28 PM EDTRayonier (NYSE: RYN) reported Q3 EPS of $0.18, $0.12 better than the analyst estimate of $0.06. Revenue for the quarter came in at $200.9 million versus the consensus estimate of $180.89 million.
Following a very strong first half of the year, we are pleased to report third quarter results above expectations, largely driven by a timberland sale in New Zealand, said David Nunes, President and CEO. Southern Timber results reflect 2% lower harvest volumes and a 3% increase in pine pulpwood stumpage prices relative to the prior year quarter, as wet weather conditions hindered harvest efforts but positively impacted pulpwood pricing. Overall,... More
