WILDLIGHT, Fla. (AP) — WILDLIGHT, Fla. (AP) — Rayonier Inc. (RYN) on Wednesday reported third-quarter profit of $43.2 million.
The Wildlight, Florida-based company said it had profit of 28 cents per share. Earnings, adjusted for one-time gains and costs, came to 32 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.
The forest products company posted revenue of $177.5 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $163.3 million.
For the current quarter ending in December, Rayonier expects its per-share earnings to range from 11 cents to 14 cents.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RYN at https://www.zacks.com/ap/RYN
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