Rayonier Inc. Q1 adjusted earnings Miss Estimates

(RTTNews) - Rayonier Inc. (RYN) revealed earnings for first quarter that decreased from last year.

The company's profit came in at $10.8 million, or $0.08 per share. This compares with $25.9 million, or $0.20 per share, in last year's first quarter.

Excluding items, Rayonier Inc. reported adjusted earnings of $10.8 million or $0.08 per share for the period.

Analysts had expected the company to earn $0.1 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 26.1% to $191.4 million from $259.1 million last year.

Rayonier Inc. earnings at a glance:

-Earnings (Q1): $10.8 Mln. vs. -$0.3 Mln. last year. -EPS (Q1): $0.08 vs. -$0.00 last year. -Analysts Estimate: $0.1 -Revenue (Q1): $191.4 Mln vs. $259.1 Mln last year.