Rayonier Advanced Materials (RYAM) Reports Q4 Loss of $0.91/Share
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Rayonier Advanced Materials Announces Fourth Quarter and 2019 Results and Continuing Actions to Re-Position the Company in 2020
February 25, 2020 8:29 PM ESTFourth Quarter and 2019 Results
Fourth quarter and full year 2019 loss from continuing operations of $57 million and $119 million due primarily to extremely weak commodity pricing, which alone negatively impacted results by $162 million in the full year period Took decisive action in 2019: implemented strategy to increase margins for Cellulose Specialties, reduce capital expenditures, sell the Matane asset and reduce debt $151 million of liquidity as of year-end 2019; 4.1x senior secured leverage versus 5.6x covenant ratioRecent Developments
Dissolving wood pulp (Cellulose Specialties and viscose) and fluff pulp... More