Rayonier Advanced Materials (RYAM) Misses Q1 EPS by 82c, Revenues Miss
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Rayonier Advanced Materials Announces First Quarter 2021 Results and Strategic Update
May 4, 2021 4:36 PM EDTOperating income was $55 million, $67 million favorable to the comparable period in 2020, driven by higher prices for lumber and commodity High Purity Cellulose along with stronger cellulose specialties volumes Driven by higher book income tax expense, first quarter loss from continuing operations was $27 million, $2 million unfavorable to the comparable period in 2020; expect minimal cash taxes in 2021 First quarter Adjusted EBITDA from continuing operations of $91 million was up $64 million from the comparable quarter in 2020 primarily driven by higher lumber and High Purity Cellulose commodity prices along with... More
