Rayonier Inc. Announces 88% Advance In Q3 Profit

(RTTNews) - Rayonier Inc. (RYN) reported a profit for its third quarter that gained ground compared to the same period last year.

The company said its bottom line rose to $40.6 million, or $0.33 per share. This was up from $21.6 million, or $0.17 per share, in last year's third quarter.

Analysts had expected the company to earn $0.13 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 13.0% to $171.4 million. This was up from $151.7 million last year.

Rayonier Inc. earnings at a glance:

-Earnings (Q3): $40.6 Mln. vs. $21.6 Mln. last year. -Earnings Growth (Y-o-Y): 88.0% -EPS (Q3): $0.33 vs. $0.17 last year. -EPS Growth (Y-o-Y): 94.1% -Analysts Estimate: $0.13 -Revenue (Q3): $171.4 Mln vs. $151.7 Mln last year. -Revenue Change (Y-o-Y): 13.0%