RYAM Q3 loss from continuing ops $27M; cuts 2023 EBITDA guidance to ~$150M, raises FCF to $65-75M

RAYONIER ADVANCED MATERIALS INC.

2023-Q3 EPS reported -$0.62 revenue$1,220,844,000

Q3 loss from continuing ops $27M ($0.41/sh) vs. prior-year income $18M ($0.28/sh).
Net sales $369M, down 21% YoY; High Purity Cellulose down 21% to $292M.
2023 Adjusted EBITDA guidance ~$150M; FCF guidance raised to $65-75M.
Exploring sale of Paperboard & High-Yield Pulp assets; secured $250M term loan to refinance 2024 notes.
Year-to-date cash from ops $82M; debt $749M; net debt $743M.

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 0.4

RAYONIER ADVANCED MATERIALS INC. reported the quarter ended September 30, 2023 results: net income net loss of $25 million, or $(0.39) per diluted share, EPS $(0.39) per diluted share. Guidance lowered.

Period: the quarter ended September 30, 2023
Net income: net loss of $25 million, or $(0.39) per diluted share
EPS: $(0.39) per diluted share
Guidance: lowered
Result: reported results

Exact text from the filing

On November 7, 2023, Rayonier Advanced Materials Inc. issued a press release announcing financial results for the quarter ended September 30, 2023.

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Source: SEC EDGAR

accession 0001597672-23-000047

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