U.S. Markets open in 2 hrs 15 mins

Rayonier: 1Q Earnings Snapshot

WILDLIGHT, Fla. (AP) _ Rayonier Inc. (RYN) on Wednesday reported first-quarter net income of $24.8 million.

On a per-share basis, the Wildlight, Florida-based company said it had profit of 19 cents.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 10 cents per share.

The forest products company posted revenue of $191.5 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $193.2 million.

Rayonier shares have increased 15% since the beginning of the year. The stock has dropped 14% in the last 12 months.

_____

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