Rayonier Advanced Materials reports Q4, 2023 net loss of $102M

By Rayonier Advanced Materials Inc.
Business Wire
February 27, 2024
Category: Finance & Economics
Region: United States, US East

JACKSONVILLE, Florida — Rayonier Advanced Materials reported results for the fourth quarter and full year 2023. The Company reported a net loss of $102 million for the year ended December 31, 2023, compared to a net loss of $15 million for the prior year. …“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 products,” said De Lyle Bloomquist, RYAM’s President and Chief Executive Officer. “As a result, we concluded the year with $139 million in Adjusted EBITDA and $53 million of free cash flow and remained in compliance with our original debt covenants with a net secured debt ratio of 4.2 times Adjusted EBITDA.

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