Rayonier Advanced Matls Inc Stock Price, News & Analysis

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.

Rayonier Advanced Materials (NYSE:RYAM) has announced the appointment of Lyle W. Bloomquist as the new President and CEO, effective immediately, succeeding Vito J. Consiglio, who stepped down. Lisa M. Palumbo has been named the Non-Executive Chair of the Board. Bloomquist, with nearly 30 years of industry experience, aims to enhance the company’s profitability while reaffirming the company’s EBITDA guidance for the second quarter and full year 2022. He emphasizes increasing operational reliability and addressing supply chain challenges.

Chatham Asset Management, holding 6.3% of Rayonier Advanced Materials (RYAM), has reaffirmed its intent to withhold votes against Board members Thomas Morgan and Lisa Palumbo at the upcoming annual meeting on May 16, 2022. Concerns include the Board's adoption of a poison pill without shareholder approval and lack of urgency in addressing the refinancing of 2024 Notes amid rising interest rates. A leading proxy advisor recommends voting against the Board's governance chair due to these issues, emphasizing that the company's share price has significantly declined since the poison pill adoption.

Rayonier Advanced Materials (RYAM) reported a net loss of $25 million for Q1 2022, an improvement from a $27 million loss in Q1 2021. Adjusted EBITDA from continuing operations was $20 million, down $12 million year-over-year, impacted by higher input costs from inflation and lower sales volumes. Despite these challenges, RYAM remains optimistic, implementing a cost surcharge to offset inflation and expecting improved EBITDA in Q2. Strong demand for high purity cellulose and paperboard products is anticipated to drive sales, with strategic maintenance outages aimed at boosting productivity.

Rayonier Advanced Materials (RYAM) has sold 28,684,433 common shares of GreenFirst Forest Products for approximately $43.3 million to Interfor Corporation's subsidiary. This sale includes a Purchase Price Protection clause allowing RYAM to benefit from future stock price increases under specific conditions. The company plans to utilize the proceeds primarily to repay debt, particularly its Senior Notes due on June 1, 2024. With annual revenues around $1.4 billion, Rayonier focuses on cellulose-based technologies and operates in the U.S., Canada, and France.

Rayonier Advanced Materials (RYAM) will announce its first quarter 2022 earnings on May 3, 2022, after market close. A conference call is scheduled for 9:00 a.m. EST on May 4, 2022 to discuss the results, with access available on their website. The company is a leader in cellulose-based technologies, generating approximately $1.4 billion in revenue and employing over 2,500 individuals across operations in the U.S., Canada, and France.

Rayonier Advanced Materials (RYAM) reaffirms its commitment to stockholders, encouraging votes for its board nominees amidst Chatham Asset Management's proposals. The board believes current refinancing proposals from Chatham are unfavorable and is confident in securing better terms for its Senior Notes due in 2024. The company aims to enhance stockholder value by optimizing its biorefineries and managing supply chain challenges. The annual meeting is set for May 16, 2022, to elect three new board members, enhancing the board's diversity and expertise.