Rayonier Reports First Quarter 2019 Results
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Rayonier (RYN) Tops Q1 EPS by 9c, Revenues Beat
May 1, 2019 4:30 PM EDTRayonier (NYSE: RYN) reported Q1 EPS of $0.19, $0.09 better than the analyst estimate of $0.10. Revenue for the quarter came in at $191.5 million versus the consensus estimate of $181.8 million.
We are pleased with our strong start to 2019, particularly in our Southern Timber segment, said David Nunes, President and CEO. Southern Timber results increased significantly versus the prior year quarter driven by a 23% increase in harvest volumes and a 3% increase in weighted-average stumpage prices, as both pricing and removals benefited from wet weather conditions. Pacific Northwest Timber results declined versus the prior year quarter driven by 25% lower harvest... More
