Analysts review Rayonier quarterly results
Wednesday 14 Aug 2019International forest company Rayonier Inc reported Q2 2019 net income of US$18.8 million or $0.14 per share on revenues of US$184.8 million. This compares to US$36.3 million on revenues of US$245.9 million for the same quarter in 2018.
For their New Zealand business analysts reported earning about in line with expectations.
NZ - Adjusted EBITDA $20mm; BMO $20.7mm, 1Q $22mm, 2Q18 $25.8mm. Q2 harvest volumes -7% y/y (BMO -1%). Export sawlog prices down 7% y/y and domestic price fell 4% y/y – both in line with BMO. RYN is maintaining FY harvest volume target of 2.7-2.8 mm, but expecting sawlog prices to remain under pressure.
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