Published on 27 Feb 2024 on GuruFocus.com via Yahoo Finance
Rayonier Advanced Materials Inc. Reports Full Year 2023 Results and Improved 2024 Outlook
Net Sales: $1,643 million in 2023, a decrease of $74 million from the previous year.Loss from Continuing Operations: $102 million in 2023, including a $62 million non-cash impairment.Adjusted EBITDA: $139 million for 2023, with a guidance of $180 to $200 million for 2024.Cash Flow: Operating activities generated $136 million in cash for the year.Debt Reduction: Total debt reduced by $76 million to $777 million.Adjusted Free Cash Flow: Generated $53 million year-to-date.Net Secured Debt Ratio: Remained in compliance with debt covenants at 4.2 times Adjusted EBITDA.
Warning! GuruFocus has detected 3 Warning Signs with RYAM.
On February 27, 2024, Rayonier Advanced Materials Inc (NYSE:RYAM) released its 8-K filing, disclosing its financial results for the fourth quarter and full year of 2023, and providing an improved outlook for 2024. The company, a global leader in high-purity cellulose production, faced a challenging year with net sales declining to $1,643 million, a $74 million drop from the prior year. The loss from continuing operations was significant at $102 million, which included a substantial non-cash impairment charge.