Rayonier Advanced Materials (NYSE: RYAM) reported Q2 EPS of $0.60, $0.08 better than the analyst estimate of $0.52. Revenue for the quarter came in at $542 million versus the consensus estimate of $536.93 million.

• Second quarter 2018 net income of $54 million and adjusted EBITDA of $106 million
• Year to date diluted earnings per share of $1.22 and adjusted net income per share of $0.99; 281 percent increase in adjusted earnings per share from prior year
• Strong performance in Pulp and Forest Products segments combined with improved productivity in High Purity Cellulose drove increased adjusted EBITDA
• Solid execution on Cost Transformation with $18 million of savings achieved year to date; on track to exceed 2018 target
• Returned capital of $29 million to stockholders through dividends and share repurchases year to date

“With strong demand in our pulp and forest products segments and improved performance in our manufacturing operations, we delivered solid earnings for the quarter, underscoring the earnings potential of the new portfolio,” said Paul Boynton, Chairman, President and Chief Executive Officer. “We remain committed to a disciplined and balanced capital allocation program as evidenced by our investment of $23 million in strategic capital projects, debt reduction of $12 million and $29 million of capital returned to shareholders through dividends and common stock repurchases through the first half of the year.”

For earnings history and earnings-related data on Rayonier Advanced Materials (RYAM) click here.