WILDLIGHT, Fla. (AP) — WILDLIGHT, Fla. (AP) — Rayonier Inc. (RYN) on Wednesday reported second-quarter earnings of $408.7 million.
On a per-share basis, the Wildlight, Florida-based company said it had profit of $2.63. Earnings, adjusted to account for discontinued operations, were 6 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The forest products company posted revenue of $106.5 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $92.8 million.
For the current quarter ending in September, Rayonier expects its per-share earnings to range from 18 cents to 28 cents.
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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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