Rayonier Advanced Materials Inc. reports on a cellulose and derivatives business that produces specialty cellulose, viscose pulp, fluff pulp, high-yield pulp, paperboard, biofuels, bioelectricity and lignin from wood fiber. Company news commonly covers quarterly operating results, pricing and volume trends, debt and leverage measures, segment reporting changes, and demand conditions in end markets such as filters, food, pharmaceuticals, high-performance plastics, propellants and industrial applications.
Updates also address manufacturing activity across operations in the United States, Canada and France, including facility events, capital-allocation decisions, strategic-review disclosures, leadership transitions and investor presentations.
Rayonier Advanced Materials Inc. (NYSE: RYAM) has announced an immediate price increase for its Cellulose Specialties products by up to 10 percent, depending on product grade and as contracts allow. The company attributes this price hike to market dynamics, cost inflation, and other economic drivers.
This strategic move by RYAM aims to address the current economic challenges and maintain profitability in its Cellulose Specialties segment. The price increase reflects the company's response to rising production costs and changing market conditions in the specialty cellulose industry.
Rayonier Advanced Materials (RYAM) reported strong Q2 2024 results, with net sales of $419 million, up $34 million from the prior year quarter. Income from continuing operations was $8 million, a $24 million improvement. Adjusted EBITDA from continuing operations increased by $41 million to $68 million. The company raised its 2024 guidance, now expecting Adjusted EBITDA of $205-$215 million and Adjusted Free Cash Flow of $100-$110 million.
Key highlights include:
- High Purity Cellulose segment saw improved mix and increased cellulose specialties volumes
- Paperboard segment benefited from higher sales volumes and lower pulp costs
- Company generated $69 million in Adjusted Free Cash Flow
- Net secured debt leverage ratio reduced to 3.4 times covenant EBITDA
- Progress made on Biomaterials strategy, including bioethanol facility operations in Tartas
Rayonier Advanced Materials (NYSE: RYAM) has announced its schedule for the release of second quarter 2024 earnings. The company plans to disclose its financial results on Tuesday, August 6, 2024, after market close. Following this, RYAM will host a conference call and live webcast on Wednesday, August 7, 2024, at 9:00 a.m. ET to discuss the quarterly performance.
Investors can access supplemental materials and the live audio webcast at www.RYAM.com. For those unable to attend the live event, a replay will be available on the company's website shortly after the call. The conference call can be accessed by dialing 800-715-9871 (U.S.) or 646-307-1963 (international) with Conference ID 3242908. A teleconference replay will be available until August 21, 2024.
Rayonier Advanced Materials (NYSE: RYAM) has announced that Joshua Hicks, their Senior Vice President of High Purity Cellulose, will participate in a fireside chat with analyst Dmitry Silversteyn from Water Tower Research on June 26, 2024. The discussion will cover RYAM's strategy and vision, the High Purity Cellulose market, industry applications, market dynamics, and RYAM's sustainable initiatives. The event will start at 10:00 AM ET and can be accessed via RYAM.com.
Rayonier Advanced Materials (NYSE: RYAM), a global leader in High Purity Cellulose, has announced that its President and CEO, De Lyle Bloomquist, will meet with investors at the Stifel Cross Sector Insight Conference. The conference will take place on June 5, 2024, with a group presentation scheduled for 2:25 PM ET. Interested attendees can register through RYAM's website.
Rayonier Advanced Materials Inc. (RYAM) reported Q1 2024 results with net sales at $388 million, net loss of $2 million, and Adjusted EBITDA at $52 million. Total debt stands at $779 million. The company reaffirmed its 2024 EBITDA guidance and increased Free Cash Flow guidance. RYAM is on track to meet its full-year guidance despite the suspension of operations at the Temiscaming High Purity Cellulose plant and the sale of refund rights to OCP Lumber The Company is focused on debt reduction and strategic initiatives.
Rayonier Advanced Materials Inc. (NYSE: RYAM) announced the sale of its entitlements to refunds, including all accrued interest, related to softwood lumber duties imposed on exports from Canada to the United States between 2017 and 2021. The sale price is $39 million, with additional future proceeds possible depending on the trade dispute outcome. The agreement aims to strengthen the company's financial position and focus on core business strategies by monetizing non-core assets.
Rayonier Advanced Materials Inc. (RYAM) will suspend operations at its Temiscaming High Purity Cellulose (HPC) plant indefinitely starting July 2, 2024. The decision aims to reduce operating losses, improve consolidated free cash flow, and align with the company's long-term growth strategy. The suspension will lead to a decrease in global HPC production, affecting approximately 30% of specialty cellulose materials. This move will result in about 275 layoffs. The plant's challenges include market weakness, wood fiber availability, and high costs. RYAM remains committed to supporting its customers' cellulose needs and maintains operations at its paperboard and high-yield pulp plants.
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