Rayonier Q1 2024 Adj EPS $0.05 Beats $0.04 Estimate, Sales $168.100M Miss $193.675M Estimate
Portfolio Pulse from Benzinga Newsdesk
Rayonier (NYSE:RYN) reported Q1 2024 adjusted EPS of $0.05, surpassing the $0.04 estimate, marking a 400% increase from last year. However, sales of $168.1M fell short of the $193.675M estimate, a 6.14% decrease from the previous year.
May 01, 2024 | 8:18 pm
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Rayonier reported a significant increase in EPS, beating estimates, but experienced a decrease in sales, missing estimates for Q1 2024.
The positive earnings surprise could provide a short-term boost to Rayonier's stock price due to the significant year-over-year growth in EPS. However, the miss on sales estimates and the decrease in sales compared to the previous year could temper investor enthusiasm, leading to a neutral overall impact in the short term.
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