Rayonier Guides FY Outlook Above Street Estimates

(RTTNews) - Florida-based real estate company, Rayonier Inc. (RYN) forecasts lower earnings per share year-over-year. However, the guided earnings are higher than the Street estimates.

For the full year, the company expects the earnings to be in the range of $83 million to $92 million or $0.57 to $0.64 per share. On average, four analysts polled by Thomson Reuters expect the earnings to come at $0.53 per share.

The company is attributing the higher harvest and transportation costs in the Pacific Northwest Timber segment for the drop in income as well as the supply chain issues and lower pricing in the New Zealand Timber segment.