Rayonier Advanced Matls Inc Stock Price, News & Analysis

Rayonier Advanced Materials Inc. (NYSE: RYAM) announced that its subsidiary, Rayonier A.M. Products Inc., will not proceed with a private offering of $325 million senior secured notes due 2028 due to unattractive terms. Consequently, RYAM will not redeem its senior unsecured notes due 2024 at this time. The company plans to monitor capital markets for refinancing opportunities for its 5.5% unsecured senior notes maturing in June 2024 and is confident in obtaining favorable terms. RYAM is a leader in cellulose-based technologies with $1.7 billion in estimated revenue for 2022.

Rayonier Advanced Materials Inc. (NYSE: RYAM) has initiated a private offering of $325 million in senior secured notes due 2028. The proceeds from this offering will be used to fully redeem existing senior unsecured notes due in 2024. The notes will be guaranteed by RYAM and its subsidiaries in the U.S. and Canada. The offering is limited to qualified institutional buyers and non-U.S. persons, with restrictions on transferability. The press release clarifies that this is not an offer to buy or sell securities in jurisdictions where it would be unlawful.

Rayonier Advanced Materials (RYAM) announced its preliminary, unaudited fourth quarter and full year results for 2022. For Q4, estimated revenue is between $488 million and $508 million, while the income from continuing operations ranges from $(1) million to $3 million. The adjusted EBITDA is expected to be $52 million to $56 million. For the full year, RYAM anticipates revenues of $1.705 billion to $1.725 billion, with a loss from continuing operations of $(28) million to $(32) million. Total debt is reported at $853 million, with adjusted net debt standing at $707 million.

Rayonier Advanced Materials (RYAM) announced the cancellation of a force majeure by Southern Natural Gas Company affecting its Jesup, Georgia facility. This event had caused an estimated $4 million EBITDA impact. The company is reserving its rights to contest the financial penalties incurred due to the supply disruption.

RYAM is a leader in cellulose-based technologies with operations in the U.S., Canada, and France, generating $1.4 billion in revenue in 2021.

Rayonier Advanced Materials Inc. (NYSE:RYAM) announced a force majeure event affecting its Jesup, Georgia facility due to an unscheduled outage by Southern Natural Gas Company. This incident, starting December 24, 2022, may result in financial penalties and reduce daily EBITDA by approximately $775,000 to $900,000. Consequently, the company's full-year Adjusted EBITDA might fall below $175 million. The Fernandina Beach facility remains unaffected, and the company will implement alternative energy sources during this period.

Rayonier Advanced Materials (RYAM) will have CFO Marcus J. Moeltner present at the 2022 Bank of America Leveraged Finance Conference in Boca Raton, Florida, on November 30, 2022. This event will also include investor meetings on November 29 and 30, 2022. RYAM specializes in cellulose-based technologies, serving sectors such as food and pharmaceuticals. The company operates in the U.S., Canada, and France, employing over 2,500 people and generating $1.4 billion in revenue in 2021. More details can be found at www.RYAMglobal.com.

Rayonier Advanced Materials (RYAM) reported a robust net income of $30 million for Q3 2022, reversing a net loss from the previous year. Net sales surged to $466 million, a 25% increase year-over-year, with Adjusted EBITDA guidance raised to exceed $175 million. Strong performance in High Purity Cellulose drove a 28% sales increase, while Paperboard sales also saw a 27% rise. Despite inflationary pressures, the company improved its profitability through productivity gains and strategic pricing. RYAM continues to focus on debt reduction and plans to refinance upcoming maturities.

Rayonier Advanced Materials (RYAM) announced the addition of Chas R. Eggert to its Board of Directors, effective October 19, 2022. With over 40 years in the industry, Eggert brings extensive experience in strategic leadership and operational transformation, particularly in specialty chemicals and biomaterials. His previous roles include Operating Partner at iSelect Fund Management and Arsenal Capital Partners, where he contributed to various portfolio companies. This appointment is expected to enhance RYAM's growth strategies in cellulose specialties and related markets.