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RYAM Announces Strong Third Quarter 2024 Results, Reiterates EBITDA Guidance, Increases Free Cash Flow Guidance and Successfully Refinances its Capital Structure
Rayonier Advanced Materials (RYAM)reported Q3 2024 results with net sales of $401 million, up $32 million from prior year. Despite a net loss of $33 million, including a $25 million non-cash asset impairment and $7 million suspension charges, Adjusted EBITDA increased to $51 million. The company reiterated its 2024 Adjusted EBITDA guidance of $205-215 million and increased Free Cash Flow guidance to $115-125 million. RYAM successfully refinanced with a $700 million secured term loan and announced price increases up to 10% for cellulose specialties products. A fire at the Jesup plant is expected to impact earnings by $10 million in 2024.
Rayonier Advanced Materials (RYAM)reported Q3 2024 results with net sales of $401 million, up $32 million from prior year. Despite a net loss of $33 million, including a $25 million non-cash asset impairment and $7 million suspension charges, Adjusted EBITDA increased to $51 million. The company reiterated its 2024 Adjusted EBITDA guidance of $205-215 million and increased Free Cash Flow guidance to $115-125 million. RYAM successfully refinanced with a $700 million secured term loan and announced price increases up to 10% for cellulose specialties products. A fire at the Jesup plant is expected to impact earnings by $10 million in 2024.
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