Rayonier Inc. (RYN) announced a decrease in earnings for the first quarter of this year compared to the same quarter of the previous year, yet it surpassed market expectations.
The company's earnings totalled $1.4 million, equivalent to $0.01 per share. This demonstrates a decrease from last year's first quarter when it earned $8.3 million, or $0.06 per share.
However, when excluding certain factors, Rayonier Inc. reported an adjusted earnings of $7.0 million or $0.05 per share for the period.
On average, analysts predicted the company would earn $0.04 per share, as per data collected by Thomson Reuters. It's worth noting that these estimates generally exclude special items.
In terms of revenue, the company experienced a 6.1% decrease in the quarter, dropping to $168.1 million from $179.1 million the previous year.
In a nutshell, Rayonier Inc.'s earnings overview under Generally Accepted Accounting Principles (GAAP) for the first quarter is as follows:
- Earnings: $1.4 million, down from $8.3 million in the same quarter last year.
- Earnings per share (EPS): $0.01, down from $0.06 in the same quarter last year.
- Revenue: $168.1 million, down from $179.1 million in the same quarter last year.
