Rayonier Inc. (RYN), Thursday reported first-quarter net income of $147.7 million or $1.13 per share, compared to $53.4 million or $0.42 per share last year.
Analysts polled by Thomson Reuters estimated earnings of $0.61 per share.
Results for the quarter included income from discontinued operations of $45 million or $0.34 per share, primarily due to the $43 million net gain resulting from the sale of the Wood Products business. Last year results which included income from discontinued operations of $1 million, or $0.01 per share.
Sales for the quarter grew to $393.7 million from $336.6 million last year. Analysts estimated revenues of $378.05 million for the quarter.
Looking forward to full year 2013, the company continues to expects operating income and earnings to be slightly above 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.