Rayonier Inc. Q3 Profit Declines, but beats estimates

(RTTNews) - Rayonier Inc. (RYN) released earnings for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $20.6 million, or $0.14 per share. This compares with $75.8M, or $0.53 per share, in last year's third quarter.

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

The company's revenue for the quarter fell 46.4% to $195.3M from $364.7 million last year.

Rayonier Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $20.6 Mln. vs. $75.8M. last year. -EPS (Q3): $0.14 vs. $0.53 last year. -Analyst Estimates: $0.11 -Revenue (Q3): $195.3M vs. $364.7 Mln last year.