The following is a summary of the Rayonier Advanced Materials Inc. (RYAM) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 2024 adjusted EBITDA reached $51 million, a 113% increase from last year, with margins nearly doubling to 12.7%.

• Year-to-date adjusted free cash flow stands at $99 million, demonstrating strong cash flow generation.

• Notable segment performances include a $32 million EBITDA rise in High Purity Cellulose and a $6 million EBITDA improvement in High-Yield Pulp.

Business Progress:

• Successfully refinanced debt, enhancing financial flexibility for long-term strategy.

• Shifted product mix towards higher-margin specialty production, reducing commodity exposure in revenues.

• Advanced key initiatives, including completion of the detailed engineering phase for the Fernandina bioethanol plant.

Opportunities:

• Announced a price increase of up to 10% for cellulose specialty products.

• Continuously exploring the potential sale of Paperboard and High-Yield Pulp assets, focusing on strong free cash flow alignment.

• Advancing biomaterials strategy, including nearing operation commencement for the Fernandina bioethanol plant and evaluating additional green capital finance options.

Risks:

• Encountered a $10 million EBITDA impact due to a fire at the Jesup facility, expected to extend over the next couple of years in repair costs.

• Exposed to commodity price fluctuations and competitive pressures, especially from European imports in the Paperboard segment.

• Long-term operations marginally threatened by the uncertainty surrounding the cause and full financial impact of the Jesup fire incident.

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