Rayonier Advanced Materials reported net sales of $401 million for Q3 2024, up from $369 million in the prior year quarter. Adjusted EBITDA increased to $51 million from $24 million year-over-year. However, the company experienced a net loss of $33 million, impacted by a $25 million non-cash asset impairment and $7 million in indefinite suspension charges. The company successfully refinanced its capital structure and reiterated its 2024 Adjusted EBITDA guidance while increasing its Free Cash Flow guidance.
Net sales increased to $401 million, up $32 million from the prior year quarter.
Adjusted EBITDA rose to $51 million, a $27 million increase from the prior year quarter.
Net loss was $33 million, which included a $25 million non-cash asset impairment and $7 million in indefinite suspension charges.
2024 Adjusted EBITDA guidance was reiterated at $205 million to $215 million, and Adjusted Free Cash Flow guidance was increased to $115 million to $125 million.
RYAM expects to generate $205 million to $215 million of Adjusted EBITDA in 2024 with $115 million to $125 million of Adjusted Free Cash Flow, including passive asset sales but excluding any operating asset sales.
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