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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) 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.
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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.
Rayonier Advanced Materials (RYAM) is set to release its third quarter 2022 earnings on November 1, 2022, after market close. A conference call and live webcast will follow on November 2, 2022, at 9:00 a.m. EDT to discuss the results. Investors can access the call via phone or through RYAM's website, where a replay will also be available later. The company operates in cellulose-based technologies and generated $1.4 billion in revenue in fiscal 2021, with over 2,500 employees across the U.S., Canada, and France.
Rayonier Advanced Materials Inc. (NYSE:RYAM) announced that CFO Marcus J. Moeltner will present at Deutsche Bank's 30th Annual Leveraged Finance Conference in Scottsdale, Arizona, on September 20, 2022. RYAM is a global leader in cellulose-based technologies, providing high purity cellulose specialties used in various industries, including pharmaceuticals and food. The company generated $1.4 billion in revenue in 2021 and employs over 2,500 people across manufacturing operations in the U.S., Canada, and France.
Rayonier Advanced Materials Inc. (RYAM) reported Q2 2022 net sales of $399 million, a 17% increase year-over-year. However, the company faced a net loss of $25 million from continuing operations. Adjusted EBITDA guidance is updated to exceed $160 million for the year. Despite higher sales prices across segments, inflation has impacted input costs. Significant cash flow generation is expected in the latter half of the year, with anticipated net debt reduction to $725 million by year-end. The company continues to face supply chain constraints, affecting overall productivity.
Rayonier Advanced Materials (RYAM) will release its second quarter 2022 earnings on August 3, 2022, after market close. A conference call is scheduled for 9:00 a.m. EDT on August 4, 2022, where results will be discussed. Interested parties can access the call via phone or through a live webcast available at www.ryamglobal.com. The company employs over 2,500 people and reported $1.4 billion in revenue for fiscal 2021, emphasizing its position as a leader in cellulose-based technologies.
Rayonier Advanced Materials (NYSE:RYAM) has updated its Adjusted EBITDA guidance for the full year 2022 to approximately $160 million, an increase from $128 million in 2021. This forecast is contingent on supply chain conditions and sales timing. The company has repurchased $20 million of its Senior Unsecured Notes, with an additional $50 million authorized for repurchase. RYAM aims to reduce its Adjusted Net Debt to $725 million by year-end, enhancing its credit profile and refinancing opportunities.