RYAM reports 2023 loss of $102M; guides 2024 Adjusted EBITDA $180-200M

RAYONIER ADVANCED MATERIALS INC.

2023-FY EPS reported -$1.57 revenue$1,643,330,000

Net sales $1,643M (-$74M YoY); loss from continuing ops $102M (incl. $62M non-cash impairment) vs. loss $27M prior year.
Adjusted EBITDA $139M; adjusted FCF $53M; total debt reduced $76M to $777M; net secured debt ratio 4.2x.
2024 guidance: Adjusted EBITDA $180-200M, FCF $20-40M; bioethanol facility commissioning in Q1 2024.
High Purity Cellulose: specialties prices up 8% Q4 YoY but volumes down 11%; commodity volumes up 7%.
Amended 2027 Term Loan to raise max secured net leverage ratio through FY2024; incurred $3M fees.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RAYONIER ADVANCED MATERIALS INC. reported year ended December 31, 2023 results: revenue $1,643 million, net income $102 million, EPS $(1.57) per diluted share.

Period: year ended December 31, 2023
Revenue: $1,643 million
Net income: $102 million
EPS: $(1.57) per diluted share
Result: reported results

Exact text from the filing

language in such filing. --- EX-99.1 (EX-99.1) --- RYAM Announces Fourth Quarter and Full Year 2023 Results and Provides Improved Outlook for 2024 • Net sales for 2023 of $1,643 million, down $74 million from the prior year • Loss from continuing operations for 2023 of $102 million inclusive of a $62 million non-cash impairment, down $75 million from the prior

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

RAYONIER ADVANCED MATERIALS INC. updated its 2024 guidance (initiated).

Period: 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

2024 Adjusted EBITDA guidance of $180 million to $200 million

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Source: SEC EDGAR

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