WILDLIGHT, Fla. (AP) — WILDLIGHT, Fla. (AP) — Rayonier Inc. (RYN) on Wednesday reported first-quarter profit of $8.3 million.
The Wildlight, Florida-based company said it had net income of 6 cents per share. Earnings, adjusted for non-recurring gains, were 1 cent per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The forest products company posted revenue of $179.1 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $198 million.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RYN at https://www.zacks.com/ap/RYN
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