Rayonier Advanced Materials (RYAM) Misses Q3 EPS by 5c

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Go back to Rayonier Advanced Materials (RYAM) Misses Q3 EPS by 5c

Rayonier Advanced Materials Announces Third Quarter 2021 Results

November 2, 2021 5:09 PM EDT

Asset Sale Positions Company for Growth Supported by Strong Demand for Cellulose Specialties

Sale of lumber and newsprint assets for approximately $232 million; estimated gain on sale of $6 million, net of tax Retired $127 million of senior unsecured debt; additional $25 million of senior secured debt repaid in October Expect significant price increases on the majority of cellulose specialties contracts in 2022 Net loss from continuing operations was $13 million, $26 million unfavorable to the comparable period in 2020, driven by income tax... More