Rayonier Advanced Materials Inc. (RYAM) reports earnings
Rayonier Advanced Materials Inc. (RYAM) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing net sales of $1.63 billion, a slight decrease from $1.64 billion in the previous year. The decline is attributed to lower sales prices in commodity products and the Paperboard and High-Yield Pulp segments.
The company reported an operating income of $39 million, a significant improvement from an operating loss of $65 million in 2023. This change was driven by a prior year impairment charge and lower costs due to the indefinite suspension of operations at the Temiscaming High Purity Cellulose plant.
Net loss for the year was $39 million, compared to a net loss of $102 million in the previous year. The improved results were aided by a $25 million non-cash asset impairment related to the indefinite suspension of operations at the Temiscaming plant.
Rayonier Advanced Materials recorded a gross margin of 10.2% for the year, up from 5.4% in 2023. The increase was due to higher cellulose specialties sales prices and volumes.
The company reported cash provided by operating activities of $204 million, an increase from $136 million in 2023. This was driven by stronger operating results and proceeds from the sale of softwood lumber duty refund rights.
Rayonier Advanced Materials secured $700 million in term loan financing in October 2024, which was used to redeem outstanding notes and refinance existing debt. The new term loan matures in October 2029.
The filing details the company's environmental liabilities, which total $170 million. These liabilities are associated with former operations and are expected to be addressed over the next 20 years.
The company reorganized its High Purity Cellulose segment into three separate businesses: Cellulose Specialties, Cellulose Commodities, and Biomaterials, effective January 2025.
Rayonier Advanced Materials continues to focus on sustainability, with significant investments in green energy projects, including a bioethanol facility in France and plans for a similar facility in Fernandina Beach, Florida.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Rayonier Advanced Materials Inc. annual 10-K report dated March 6, 2025. To report an error, please email [email protected].