Third Quarter 2024 Financial Presentation Materials November 6, 2024 Safe Harbor Forward-Looking Statements Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to RYAM's future events, developments, or financial or operational performance or results, are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform A ...

Company Performance - Rayonier Advanced Materials reported a quarterly loss of $0.12 per share, better than the Zacks Consensus Estimate of a loss of $0.18, and an improvement from a loss of $0.41 per share a year ago, representing an earnings surprise of 33.33% [1] - The company posted revenues of $401 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 2.72%, but showing an increase from year-ago revenues of $369 million [2] - Over the last four quarters, Rayonier Advanced Materials has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Stock Performance - Rayonier Advanced Materials shares have increased approximately 100.7% since the beginning of the year, significantly outperforming the S&P 500's gain of 19.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.47 on revenues of $430.7 million, and -$0.48 on revenues of $1.65 billion for the current fiscal year [7] Industry Outlook - The Paper and Related Products industry, to which Rayonier Advanced Materials belongs, is currently ranked in the bottom 16% of over 250 Zacks industries, indicating a challenging environment [8] - The outlook for the industry can materially impact the stock's performance, as research shows that the top 50% of Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1 [8]

Financial Performance - Net sales for Q3 2024 were $401 million, an increase of $32 million or 8.7% from the prior year quarter[1]. - Adjusted EBITDA from continuing operations for Q3 2024 was $51 million, up $27 million or 112% from the prior year quarter[1]. - The company reported a net loss of $33 million, or $(0.49) per diluted share, compared to a net loss of $25 million, or $(0.39) per diluted share, in the prior year quarter[5]. - The company reported a net loss of $33 million for the nine months ended September 28, 2024, compared to a net loss of $40 million for the same period in 2023[60]. - Adjusted EBITDA for the nine months ended September 28, 2024, was $175 million, up from $171 million for the same period last year[68]. - Adjusted income (loss) from continuing operations for the three months ended September 28, 2024, was $(0.12) per diluted share, compared to $(0.40) per diluted share for the same period in 2023[76]. - Adjusted income (loss) from continuing operations for the nine months ended September 28, 2024, was $(0.58) per diluted share[76]. - The company experienced a total adjusted loss of $(39) million for the nine months ended September 28, 2024[76]. Debt and Financing - Total debt stood at $773 million, with a net secured debt of $622 million and a covenant net secured leverage ratio of 2.8 times[1]. - The company successfully raised $700 million in secured term loan financing to refinance its capital structure[1]. - Non-operating interest expense increased by $10 million for the nine months ended September 28, 2024, due to a rise in the average effective interest rate on debt[19]. - The Company has secured commitments for a five-year $175 million ABL credit facility, initially priced at Term SOFR plus a spread of 2%[30]. - Total debt as of September 28, 2024, was $773 million, a slight decrease from $777 million as of December 31, 2023[75]. - Adjusted net debt decreased to $653 million as of September 28, 2024, from $721 million at the end of 2023, reflecting improved financial health[75]. Cash Flow and Liquidity - The company generated $99 million of Adjusted Free Cash Flow, which supported a $37 million reduction in net secured debt during the quarter[2]. - Cash provided by operating activities for the nine months ended September 28, 2024, was $149 million, compared to $82 million for the same period last year, indicating an increase of 81.7%[71]. - The Company generated operating cash flows of $149 million during the nine months ended September 28, 2024, driven by proceeds of $39 million from the sale of softwood lumber duty refund rights[27]. - The Company ended the third quarter with $281 million of global liquidity, including $136 million of cash and $135 million of borrowing capacity under the ABL Credit Facility[31]. - Adjusted Free Cash Flow guidance for 2024 has been increased to $115 million to $125 million[1]. - The company expects annual adjusted free cash flow guidance for 2024 to be between $115 million and $125 million[72]. Sales and Pricing - Price increases of up to 10% for cellulose specialties products were announced, expected to improve margins in 2025[4]. - Average sales price for High Purity Cellulose was $1,369 per metric ton for the three months ended September 28, 2024, compared to $1,215 for the same period last year, reflecting a 12.7% increase[62]. - Sales volume of High Purity Cellulose was 218,000 metric tons for the three months ended September 28, 2024, a slight decrease from 225,000 metric tons in the previous quarter[62]. - The average sales price for Paperboard was $1,400 per metric ton for the three months ended September 28, 2024, down from $1,459 in the same period last year, representing a decrease of 4.0%[62]. - High-Yield Pulp external sales price averaged $559 per metric ton for the three months ended September 28, 2024, compared to $489 for the same period last year, marking a 14.3% increase[62]. Operational Challenges - The Company incurred a $14 million one-time operating charge related to the indefinite suspension of operations at its Temiscaming HPC plant[33]. - The Company anticipates a decline in EBITDA from the Paperboard segment in the coming quarters due to market pressure from new competitive supply[38]. - High-Yield Pulp prices are expected to decline in the fourth quarter, while sales volumes are projected to increase significantly due to timing of shipments[39]. - The company incurred asset impairment charges of $25 million during the nine months ended September 28, 2024[60]. - Asset impairment charges amounted to $0.38 million for the three months ended September 28, 2024[76]. - Indefinite suspension charges were $0.12 million for the three months ended September 28, 2024, compared to $0.10 million for the previous quarter[76]. Future Outlook - 2024 Adjusted EBITDA guidance is reiterated at $205 million to $215 million, despite an estimated $10 million impact from a fire at the Jesup plant[3]. - The bioethanol facility in Tartas, France is expected to deliver approximately $3 million to $4 million of EBITDA in 2024, growing to $8 million to $10 million beginning in 2025[36]. - The company may require additional financing in the future to meet capital needs or make acquisitions, which may not be available on favorable terms[51]. - The company is exploring the potential sale of its Paperboard and High-Yield Pulp assets located at its Temiscaming site[32].

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Rayonier Advanced Materials Inc. (NYSE:RYAM) Q2 2024 Earnings Conference Call August 7, 2024 9:00 AM ET Company Participants Mickey Walsh - Treasurer and VP, IR De Lyle Bloomquist - President and CEO Marcus Moeltner - CFO and SVP, Finance Conference Call Participants Matthew McKellar - RBC Capital Markets Daniel Harriman - Sidoti Dmitry Silversteyn - Water Tower Research Sandy Burns - Stifel Mickey Walsh Welcome again to RYAM's Second Quarter 2024 Earnings Conference Call and Webcast. Joining me on today's ...

Rayonier Advanced Materials (RYAM) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of a loss of $0.07 per share. This compares to loss of $0.25 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 371.43%. A quarter ago, it was expected that this maker of cellulose products would post a loss of $0.01 per share when it actually produced a loss of $0.02, delivering a surprise of -100%. Over ...

RYAM Announces Strong Second Quarter 2024 Results Increases 2024 EBITDA and Free Cash Flow Guidance • Net sales for the second quarter of $419 million, up $34 million from prior year quarter • Income from continuing operations for the second quarter of $8 million, up $24 million from prior year quarter • Adjusted EBITDA from continuing operations for the second quarter of $68 million, up $41 million from prior year quarter, including $10 million of CEWS benefits recognized • Total debt of $778 million; Net ...

The Zacks Paper and Related Products industry is set to benefit from increased packaging demand from rising e-commerce activities. Sustained demand from consumer-oriented sectors, such as food, beverages and healthcare, lends further support. The industry's growth is propelled by the escalating consumer inclination toward paper as an environmentally friendly packaging choice amid rising environmental awareness. Key players, such as Stora Enso Oyj (SEOAY) , Sylvamo (SLVM) and Rayonier Advanced Materials (RYA ...

Mickey Walsh - Treasurer and VP of IR De Lyle Bloomquist - President and CEO Marcus Moeltner - CFO and SVP, Finance Good morning, and welcome to the RYAM First Quarter 2024 Earnings Conference Call. During today's presentation, all parties will be in a listen-only mode. Following the presentation, the conference will be open for questions with instructions to follow at that time. As a reminder, this conference is being recorded. Company Participants Daniel Harriman - Sidoti & Company Matthew McKellar - RBC ...

RYAM Announces Improved First Quarter 2024 Results Reaffirms 2024 EBITDA and Increases Free Cash Flow Guidance JACKSONVILLE, Fla., May 7, 2024 - Rayonier Advanced Materials Inc. (NYSE:RYAM) (the "Company") today reported results for its first quarter ended March 30, 2024. "First quarter results exceeded our expectations, driven by lower costs and improved demand for cellulose specialties. We delivered a solid $52 million in Adjusted EBITDA to maintain a net secured debt ratio of 4.4 times covenant EBITDA," ...