Rayonier Inc. Q3 Profit Decreases, but beats estimates

(RTTNews) - Rayonier Inc. (RYN) released earnings for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $19.2 million, or $0.13 per share. This compares with $20.6 million, or $0.14 per share, in last year's third quarter.

Excluding items, Rayonier Inc. reported adjusted earnings of $19.2 million or $0.13 per share for the period.

Analysts on average had expected the company to earn $0.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.2% to $201.6 million from $195.3 million last year.

Rayonier Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $19.2 Mln. vs. $20.6 Mln. last year. -EPS (Q3): $0.13 vs. $0.14 last year. -Analyst Estimates: $0.12 -Revenue (Q3): $201.6 Mln vs. $195.3 Mln last year.