RYAM Reports Q1 Net Loss $2M, Adj EBITDA $52M; Raises 2024 FCF Guidance

RAYONIER ADVANCED MATERIALS INC.

2024-Q1 EPS reported -$0.02 revenue$387,656,000

Net loss $2M ($0.02/diluted share) vs net income $2M in prior year; revenue $388M, down $79M YoY.
Adjusted EBITDA $52M, up $1M YoY; 2024 Adj EBITDA guidance reaffirmed at $180-$200M.
Suspended operations at Temiscaming High Purity Cellulose plant; expects one-time charges ~$30M, increases FCF by $15-20M.
Sold softwood lumber duty refund rights for $39M; 2024 Adj FCF guidance raised to $80-$100M.
Bioethanol facility in Tartas operational, targeting $3-4M EBITDA in 2024.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

RAYONIER ADVANCED MATERIALS INC. reported first quarter ended March 30, 2024 results: revenue $388 million, net income net loss of $2 million, EPS $(0.02) per diluted share. Guidance reaffirmed.

Period: first quarter ended March 30, 2024
Revenue: $388 million
Net income: net loss of $2 million
EPS: $(0.02) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

--- EX-99.1 (EX-99.1) --- RYAM Announces Improved First Quarter 2024 Results Reaffirms 2024 EBITDA and Increases Free Cash Flow Guidance • Net sales for the first quarter of $388 million, down $79 million from prior year quarter • Net loss for the first quarter of $2 million, a decline of $4 million from prior year quarter • Adjusted EBITDA for the first quarter

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Source: SEC EDGAR

accession 0001597672-24-000012

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