Welcome to our dedicated page for Rayonier Advanced Matls news (Ticker: RYAM), a resource for investors and traders seeking the latest updates and insights on Rayonier Advanced Matls stock.
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.
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Rayonier Advanced Materials (RYAM) reported a strong fourth quarter 2022 with net sales of $500 million, a 34% increase year-over-year. Income from continuing operations reached $4 million, up 114%, while adjusted EBITDA improved 104% to $55 million. For the full year, RYAM showed a 46% reduction in losses, with adjusted EBITDA of $177 million, up 39%. The company forecasts 2023 adjusted EBITDA between $200 million and $215 million, expecting $30 million to $60 million in adjusted free cash flow. RYAM aims to decrease net debt to trailing adjusted EBITDA to 3.5 times by 2023, down from 4.0 times in 2022.
Rayonier Advanced Materials (RYAM) will release its fourth quarter 2022 earnings on February 27, 2023, after market close. A conference call is scheduled for February 28, 2023, at 9:00 a.m. EDT, to discuss the results. Investors can access the call by dialing 877-407-8293 in the U.S., or 201-689-8349 internationally. A replay will be available post-call until March 14, 2023. RYAM, a leader in cellulose-based technologies, generated an estimated $1.7 billion in revenue in 2022 and operates across the U.S., Canada, and France.
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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.