RYAM Announces Strong Second Quarter 2024 Results Increases 2024 EBITDA and Free Cash Flow Guidance • Net sales for the second quarter of $419 million, up $34 million from prior year quarter • Income from continuing operations for the second quarter of $8 million, up $24 million from prior year quarter • Adjusted EBITDA from continuing operations for the second quarter of $68 million, up $41 million from prior year quarter, including $10 million of CEWS benefits recognized • Total debt of $778 million; Net ...

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Mickey Walsh - Treasurer and VP of IR De Lyle Bloomquist - President and CEO Marcus Moeltner - CFO and SVP, Finance Good morning, and welcome to the RYAM First Quarter 2024 Earnings Conference Call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be open for questions with instructions to follow at that time. As a reminder, this conference is being recorded. Company Participants Daniel Harriman - Sidoti & Company Matthew McKellar - RBC ...

RYAM Announces Improved First Quarter 2024 Results Reaffirms 2024 EBITDA and Increases Free Cash Flow Guidance JACKSONVILLE, Fla., May 7, 2024 - Rayonier Advanced Materials Inc. (NYSE:RYAM) (the "Company") today reported results for its first quarter ended March 30, 2024. "First quarter results exceeded our expectations, driven by lower costs and improved demand for cellulose specialties. We delivered a solid $52 million in Adjusted EBITDA to maintain a net secured debt ratio of 4.4 times covenant EBITDA," ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-36285 RAYONIER ADVANCED MATERIALS INC. State of Incorporation: Delaware I.R.S. Employer Identification No.: 46-4559529 Principal Exec ...

Rayonier Advanced Materials Inc. (NYSE:RYAM) Q4 2023 Earnings Conference Call February 28, 2024 9:00 AM ET Company Participants Mickey Walsh - Treasurer and VP of IR De Lyle Bloomquist - President and CEO Marcus Moeltner - SVP, Finance and CFO Conference Call Participants Daniel Harriman - Sidoti & Company Matthew McKellar - RBC Capital Markets Dmitry Silversteyn - Water Tower Research Operator Good morning, and welcome to the RYAM Fourth Quarter and Full Year 2023 Earnings Conference Call. During today's p ...

RYAM Announces Fourth Quarter and Full Year 2023 Results and Provides Improved Outlook for 2024 JACKSONVILLE, Fla., February 27, 2024 - Rayonier Advanced Materials Inc. (NYSE:RYAM) (the "Company") today reported results for the fourth quarter and full year 2023. "Our EBITDA results for 2023 fell short of expectations reflecting soft demand for cellulose ethers products driven by weak construction activity, lower than expected demand in Paperboard and weak pricing in High-Yield Pulp and commodity pulp produc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-36285 RAYONIER ADVANCED MATERIALS INC. Incorporated in the State of Delaware I.R.S. Employer Identification No.: 46-4559529 ...

Financial Data and Key Metrics Changes - The company reported an EBITDA of $24 million for Q3 2023, a decline of $44 million or 65% compared to the prior year, primarily due to weak demand across many product categories [66] - Sales volumes decreased by 10% to 217,000 metric tons, with commodity sales volumes rising by 37% while Cellulose Specialty (CS) volumes decreased by 36% [67] - Net debt at the end of the quarter was $743 million, a reduction of $5 million from the same period in 2022, but increased sequentially due to higher working capital [91] Business Line Data and Key Metrics Changes - The Paperboard segment saw a decrease in sales of $9 million due to a 5% reduction in sales volumes and an 8% decline in sales prices, although EBITDA increased by $2 million to $17 million due to lower pulp costs [1][66] - The High-Yield Pulp segment experienced a sales decline of $15 million, with a 31% drop in external sales prices and a 13% reduction in sales volumes, resulting in an EBITDA of negative $5 million [68] - The CS segment's sales included $28 million from biomaterial sales, with a year-to-date price increase of 12% compared to the prior year [67][71] Market Data and Key Metrics Changes - The company faced sustained weakness in demand across multiple end markets, particularly in construction markets, impacting the ethers market [15][8] - The closure of the GP Foley facility is expected to tighten the CS markets, potentially benefiting pricing negotiations in 2024 [20] - Acetates demand is anticipated to normalize in Q4, with expectations of stronger performance compared to Q3 [24] Company Strategy and Development Direction - The company aims to reduce debt by $70 million over the next year through free cash flow and potential divestitures of passive assets [4][75] - A strategic shift is underway to consolidate viscose production to the Temiscaming facility, optimizing production and reducing costs [85] - The company is targeting an annual EBITDA of $325 million by 2027, with ongoing initiatives to enhance profitability and reduce leverage [78] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a stronger Q4 due to expected improvements in demand and pricing, particularly in the CS segment [66][87] - The company anticipates a substantial working capital benefit in Q4 from aggressive inventory management [9] - Management acknowledged ongoing challenges but emphasized a commitment to enhancing profitability while reducing debt [47] Other Important Information - The company has revised its adjusted EBITDA guidance to approximately $150 million for 2023, reflecting ongoing demand weakness [72] - Free cash flow guidance has been increased to a range of $65 million to $75 million, driven by better-than-expected working capital monetization [9][73] - The company is actively negotiating the potential sale of its paperboard and high-yield pulp assets, which are seen as valuable in the market [93] Q&A Session All Questions and Answers Question: Can you provide more color on the ethers market and its impact on demand? - Management noted that higher interest rates globally are impacting construction markets, leading to continued weakness in ethers demand through 2024 [15] Question: How did the downtime on Paperboard or High Yield Pulp lines impact the high purity line? - Management confirmed that the high purity line operated well during downtime and restarted without issues [17] Question: With the Foley mill closure, do you see potential upside in pricing negotiations for the CS segment? - Management acknowledged that the closure would tighten the CS markets, particularly impacting the other CS market, and expects improved pricing dynamics [20] Question: Can you discuss the raw material pricing situation? - Management indicated improvements in raw material pricing, particularly in caustic, and noted that wood prices are expected to decline due to industry closures [107][108] Question: Is the pricing increase in specialty cellulose due to improved market fundamentals or the Foley plant closure? - Management clarified that the pricing increase is primarily due to prior negotiations and not yet reflecting the impact of the Foley closure [38]

Third Quarter 2023 Financial Presentation Materials Safe Harbor Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to RYAM's future events, developments, or financial or operational performance or results, are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws ...