Rayonier Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Rayonier Inc. (RYN) reported a profit for its first quarter that increased from last year.

The company's bottom line came in at $40.5 million, or $0.31 per share. This compares with $33.8 million, or $0.27 per share, in last year's first quarter.

Excluding items, Rayonier Inc. reported adjusted earnings of $40.5 million or $0.31 per share for the period.

Analysts had expected the company to earn $0.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.5% to $203.2 million from $194.5 million last year.

Rayonier Inc. earnings at a glance:

-Earnings (Q1): $40.5 Mln. vs. $6.3 Mln. last year. -EPS (Q1): $0.31 vs. $0.05 last year. -Analysts Estimate: $0.15 -Revenue (Q1): $203.2 Mln vs. $194.5 Mln last year.