Rayonier Reports First Quarter 2020 Results
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Rayonier (RYN) Misses Q1 EPS by 5c; Offers FY20 EPS Guidance Below Consensus
April 29, 2020 4:30 PM EDTRayonier (NYSE: RYN) reported Q1 EPS of $0.00, $0.05 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $143.1 million versus the consensus estimate of $163.49 million.
The differential magnitude and timing of COVID-19 related headwinds across our segments translated into a choppy start to the year, said David Nunes, President and CEO. In the U.S., the forest products industry has been designated by the federal government as an essential critical infrastructure industry, and we have therefore continued to operate, although end markets have been affected. In New Zealand, the pandemic began... More
