RYAM Q3 swings to profit; Adj EBITDA $68M, up 106%; raises FY22 guidance to >$175M

RAYONIER ADVANCED MATERIALS INC.

2022-Q3 EPS reported -$0.28 revenue$1,217,282,000

Net sales $466M (+25% YoY); net income $30M ($0.45/diluted) vs net loss of $5M
Adjusted EBITDA from continuing ops $68M, up 106% YoY; full-year guidance raised to exceed $175M
High Purity Cellulose sales $369M (+28%) on 21% price increase and 7% volume increase; operating income $22M vs $2M prior year
Net debt reduction of $59M YTD; net leverage ratio 5.1x; expects to reduce net debt to $725M by year-end
Liquidity $283M; repaid CAD $12M term loan in Oct; monitoring debt markets for 2024 refinancing

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

RAYONIER ADVANCED MATERIALS INC. reported for the quarter ended September 24, 2022 results: revenue $466 million, net income $30 million, EPS $0.45 per diluted share. Guidance raised.

Period: for the quarter ended September 24, 2022
Revenue: $466 million
Net income: $30 million
EPS: $0.45 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

RYAM Announces Third Quarter 2022 Results Increases Adjusted EBITDA Guidance to Exceed $175 million • Net sales for the third quarter of $466 million, up 25 percent from prior year quarter • Income from continuing operations for the third quarter of $18 million • Adjusted EBITDA from continuing operations of $68 million, up 106 percent from prior year quarter • Higher prices across all segments partially offset by inflation on key input costs JACKSONVILLE, Fla., November 1, 2022 - Rayonier Advanced Materials Inc. (NYSE:RYAM) (the “Company”) reported net income of $30 million, or $0.45 per diluted share, for the quarter ended September 24, 2022, compared to a net loss of $5 million, or $(0.07) per diluted share, for the same prior year quarter.

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Source: SEC EDGAR

accession 0001597672-22-000053

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