Rayonier Inc. Earnings Retreat 40% In Q3

(RTTNews) - Rayonier Inc. (RYN) announced a profit for third quarter that dropped compared to the same period last year.

The company said its profit dropped to $21.6 million, or $0.17 per share. This was lower than $36.3 million, or $0.28 per share, in last year's third quarter.

Analysts had expected the company to earn $0.11 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 1.3% to $151.7 million. This was up from $149.8 million last year.

Rayonier Inc. earnings at a glance:

-Earnings (Q3): $21.6 Mln. vs. $36.3 Mln. last year. -Earnings Decline (Y-o-Y): -40.5% -EPS (Q3): $0.17 vs. $0.28 last year. -EPS Decline (Y-o-Y): -39.3% -Analysts Estimate: $0.11 -Revenue (Q3): $151.7 Mln vs. $149.8 Mln last year. -Revenue Change (Y-o-Y): 1.3%