WASHINGTON (dpa-AFX) - Rayonier Inc. (RYN) revealed earnings for its fourth quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $126.9 million, or $0.85 per share. This compares with $33.1 million, or $0.22 per share, in last year's fourth quarter.
Excluding items, Rayonier Inc. reported adjusted earnings of $25.4 million or $0.17 per share for the period.
Analysts on average had expected the company to earn $0.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 4.8% to $225.2 million from $214.9 million last year.
Rayonier Inc. earnings at a glance (GAAP) :
-Earnings (Q4): $126.9 Mln. vs. $33.1 Mln. last year. -EPS (Q4): $0.85 vs. $0.22 last year. -Analyst Estimate: $0.15 -Revenue (Q4): $225.2 Mln vs. $214.9 Mln last year.
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