Plum Creek Timber Q2 Profit Tops View; Narrows FY13 Earnings Outlook

(RTTNews) - Plum Creek Timber Co. Inc. (PCL) Monday reported second-quarter net income of $46 million or $0.28 per share, compared to $36 million or $0.22 per share in the comparable quarter last year.

Revenues for the quarter were $303 million, compared with $294 million a year ago.

On average, analysts on consensus estimated earnings of $0.23 per share on revenues of $302.83 million for the quarter.

Looking ahead, the company expects third-quarter income of $0.38 to $0.43 per share. Analysts currently expect earnings of $0.39 per share.

For the full year 2013, the company expects income of $1.30 to $1.45 per share, while analysts currently estimate $1.36 per share.

Earlier, the company expected income of $1.25 to $1.50 per share for full year 2013.