Rayonier Advanced Materials (RYAM) Tops Q3 EPS by 20c; Raises Outlook
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Rayonier Advanced Materials (NYSE: RYAM) reported Q3 EPS of $0.44, $0.20 better than the analyst estimate of $0.24. Revenue for the quarter came in at $207 million versus the consensus estimate of $211.76 million. Third quarter net income of $22 million and pro forma EBITDA of $64 million.
Full year pro forma EBITDA outlook raised to $215 to $225 million from $195 to $205 million.
“We delivered another strong quarter through great execution of our Transformation Initiative,” said Paul Boynton, Chairman, President and Chief Executive Officer. “This performance is a testament to our dedication to continuous improvement over the last two years, and it gives us confidence we will exceed our 2016 guidance.”
For earnings history and earnings-related data on Rayonier Advanced Materials (RYAM) click here.
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