Stock Monitor: Jewett-Cameron Trading Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 12, 2017 / Active-Investors free earnings report on Rayonier Inc. (NYSE: RYN) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/'symbol=RYN. The Company posted its financial results on November 01, 2017, for the third quarter of the fiscal year 2017. The timberland real estate investment trust's revenue and adjusted EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:
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Active-Investors.com is currently working on the research report for Jewett-Cameron Trading Company Ltd (NASDAQ: JCTCF), which also belongs to the Industrial Goods sector as the Company Rayonier. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Rayonier most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
www.active-investors.com/registration-sg/'symbol=RYN
Earnings Highlights and Summary
For the three months ended September 30, 2017, Rayonier's revenue increased 3.8% to $177.9 million from $171.4 million in Q3 FY16. The Company's revenue numbers surpassed analysts' expectations of $150.8 million.
During Q3 FY17, Rayonier's gross profit decreased 24.5% to $41.4 million from $54.8 million in the same period of last year. During Q3 FY17, the Company's gross margin decreased 870 basis points to 23.3% of revenue from 32% of revenue in Q3 FY16.
During Q3 FY17, Rayonier's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) decreased 19.8% to $69.9 million from $87.2 million in the comparable period of last year, due to lower real estate results. During Q3 FY17, the Company's adjusted EBITDA margin decreased 1160 basis points to 39.3% of revenue from 50.9% of revenue in Q3 FY16.
During Q3 FY17, Rayonier's operating income decreased 20.9% to $39.3 million from $49.7 million in the corresponding period of last year. For the reported quarter, the Company's operating margin decreased 690 basis points to 22.1% of revenue from 29% of revenue in the third quarter of last year.
For the reported quarter, Rayonier's net income decreased 37.3% to $24.7 million from $39.4 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) decreased 40.6% to $0.19 from $0.32 in the same period of last year. For the reported quarter, Rayonier's adjusted net income decreased 39.2% to $24.7 million from $40.6 million in Q3 FY16. During Q3 FY17, the Company's adjusted diluted EPS decreased 42.4% to $0.19 from $0.33 in Q3 FY16. The adjusted diluted EPS surpassed analysts' expectations of $0.05.
Segment Details
Southern Timber - During Q3 FY17, the Company's Southern Timber segment's total revenue increased 14.7% to $31.9 million from $27.8 million in the comparable period of last year. For the reported quarter, the segment's operating income increased 40.2% to $11.5 million from $8.2 million in Q3 FY16. For the reported quarter, the segment's harvest volumes increased 24% to 1.36 million tons from 1.09 million tons in Q3 FY16, due to incremental volume from recent acquisitions and the prior year's curtailment of harvest activity in certain eastern markets.
Pacific Northwest Timber - During Q3 FY17, the Company's Pacific Northwest Timber segment's total revenue increased 15.5% to $18.6 million from $16.1 million in the corresponding period of last year. For the reported quarter, the segment's operating income was positive $1.1 million compared to negative $3.3 million in Q3 FY16. For the reported quarter, the segment's harvest volumes increased 5% to 252,000 tons from 241,000 tons in Q3 FY16, primarily due to improved export market conditions.
New Zealand Timber - During Q3 FY17, the Company's New Zealand Timber segment's total revenue increased 65.6% to $69.9 million from $42.2 million in the same period of last year. For the reported quarter, the segment's operating income increased 192.4% to $19.3 million from $6.6 million in Q3 FY16. For the reported quarter, the segment's harvest volumes increased 40% to 774,000 tons from 552,000 tons in Q3 FY16.
Real Estate - During Q3 FY17, the Company's Real Estate segment's total revenue decreased 71.5% to $17.3 million from $60.6 million in the comparable period of last year. For the reported quarter, the segment's operating income decreased 73.5% to $11.4 million from $43.1 million in Q3 FY16. For the reported quarter, the segment's adjusted EBITDA decreased 76.3% to $13.4 million from $56.6 million in the third quarter of 2016.
Trading - During Q3 FY17, the Company's Trading segment's total revenue increased 62.8% to $40.2 million from $24.7 million in the corresponding period of last year. For the reported quarter, the segment's operating income increased 120% to $1.1 million from $0.5 million in Q3 FY16. For the reported quarter, the segment's sales volumes increased 38% to 371,000 tons from 269,000 tons in Q3 FY16, due to increased volume from existing suppliers and stumpage blocks purchased from third-parties.
Balance Sheet
As on September 30, 2017, Rayonier's cash and cash equivalents increased 21.2% to $104.1 million from $85.9 million as on December 31, 2016. For the reported quarter, the Company's long-term debt was at par with the $1.03 billion recorded in Q4 FY16.
In the first nine months of 2017, Rayonier's cash provided by operating activities increased 14% to $186.9 million from $163.9 million in the same period of last year. In the first nine months of 2017, Rayonier's cash available for distribution increased 16.4% to $143.7 million from $123.5 million in the comparable period of last year.
Stock Performance Snapshot
December 11, 2017 - At Monday's closing bell, Rayonier's stock was slightly up 0.29%, ending the trading session at $31.30.
Volume traded for the day: 330.86 thousand shares.
Stock performance in the last month - up 0.26%; previous three-month period - up 9.67%; past twelve-month period - up 10.87%; and year-to-date - up 17.67%
After yesterday's close, Rayonier's market cap was at $4.03 billion.
Price to Earnings (P/E) ratio was at 29.53.
The stock has a dividend yield of 3.19%.
The stock is part of the Industrial Goods sector, categorized under the Lumber, Wood Production industry.
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