NYSE$RYAM
Rayonier Advanced Materials Inc · Q3 2022 earnings
Q3 2022 earnings · · Investor relations
Briefing
Reported strong financial results driven by increased productivity and higher prices across all segments, partially offset by inflation.
Rayonier Advanced Materials Inc. reported net income of $30 million for Q3 2022, a significant improvement compared to a net loss of $5 million in the same quarter of the prior year. Adjusted EBITDA from continuing operations increased by 106 percent to $68 million. The company has increased its full year Adjusted EBITDA guidance to exceed $175 million for 2022.
- Net sales for the third quarter were $466 million, up 25 percent from the prior year quarter.
- Income from continuing operations for the third quarter was $18 million.
- Adjusted EBITDA from continuing operations was $68 million, up 106 percent from the prior year quarter.
- Higher prices across all segments were partially offset by inflation on key input costs.
Headline financials
Revenue & EPS history
Rayonier AM · Revenue · Quarterly
$466M
Revenue by segment
Rayonier AM · $106M total across 2 segments · Q3 2022
- Paperboard$66M+26.9%62.3%
- High-Yield Pulp$40M-4.8%37.7%
Forward guidance
The Company updated its Adjusted EBITDA guidance to exceed $175 million for 2022, subject to ongoing supply chain constraints. Additionally, the Company remains on track to reduce its net debt level to $725 million by the end of the year.
Tailwinds
- Paperboard prices are expected to remain elevated in the fourth quarter driven by strong demand in both the commercial printing and packaging end-use markets.
- Sales volumes and raw material costs are expected to remain steady for Paperboard.
- Paperboard is anticipated to deliver another solid quarter of Adjusted EBITDA.
- Realized prices for High-Yield Pulp are still expected to increase in the fourth quarter.
- Sales volumes for High-Yield Pulp are anticipated to increase significantly as production and logistics constraints improve.
Headwinds
- Demand for cellulose specialties and commodity products remains strong albeit somewhat tempered as global economic growth slows.
- Average sales prices are expected to be down modestly in the fourth quarter driven by a greater mix of commodity sales volumes as production and logistics constraints improve for High Purity Cellulose.
- Key raw material inflation is expected to remain elevated for High Purity Cellulose.
- Adjusted EBITDA for the High Purity Cellulose segment is expected to be down slightly compared to the third quarter.
- High-yield pulp markets appear to be peaking as global economic demand slows.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2022
-0.1%
Avg return
Earnings day
+2.0%
Avg return
5 days after
+6.3%
Avg return
30 days after
43%
23 / 53 earnings
Positive
+34.0%
Q1 2016
Best reaction
-40.2%
Q2 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +5.7% | -0.6% | — | |
| Q4 2025 | +16.5% | +9.6% | +13.3% | |
| Q3 2025 | -8.9% | -4.3% | -3.5% | |
| Q1 2025 | -6.6% | -7.1% | -7.6% | |
| Q4 2024 | -17.6% | -28.0% | -33.5% | |
| Q3 2024 | +20.9% | +22.5% | +5.3% | |
| Q2 2024 | +33.5% | +30.0% | +39.9% | |
| Q1 2024 | -0.5% | +12.2% | +36.9% | |
| Q4 2023 | -21.9% | -13.7% | +9.1% | |
| Q3 2023 | +4.4% | +6.7% | +17.5% | |
| Q2 2023 | -23.4% | -23.2% | -30.2% | |
| Q1 2023 | -17.5% | -21.1% | -20.6% | |
| Q4 2022 | +27.9% | +30.3% | -3.7% | |
| Q3 2022 | +31.9% | +56.9% | +73.8% | |
| Q2 2022 | +15.3% | +26.5% | +14.7% | |
| Q1 2022 | +14.4% | +5.3% | -25.7% | |
| Q4 2021 | +6.4% | +13.3% | +29.9% | |
| Q3 2021 | -5.3% | -10.1% | -26.0% | |
| Q2 2021 | -4.3% | +2.4% | +3.0% | |
| Q1 2021 | -26.7% | -18.6% | -17.4% | |
| Q4 2020 | -7.8% | +22.7% | +8.0% | |
| Q3 2020 | +12.9% | +11.4% | +114.7% | |
| Q2 2020 | +10.2% | +10.9% | +11.9% | |
| Q1 2020 | +9.4% | +41.7% | +130.9% | |
| Q4 2019 | -17.8% | -9.3% | -55.2% | |
| Q3 2019 | -18.6% | +0.9% | -8.8% | |
| Q2 2019 | -40.2% | -41.6% | -22.7% | |
| Q1 2019 | -35.2% | -40.0% | -52.9% | |
| Q4 2018 | -6.0% | -3.7% | -13.1% | |
| Q3 2018 | +6.0% | +5.9% | +5.0% | |
| Q2 2018 | +11.4% | +14.6% | +17.9% | |
| Q1 2018 | -8.7% | -5.1% | -9.6% | |
| Q4 2017 | +12.3% | +10.2% | +9.7% | |
| Q3 2017 | +7.2% | +16.0% | +30.5% | |
| Q2 2017 | -5.5% | -7.1% | -7.1% | |
| Q1 2017 | -8.1% | +0.5% | +31.2% | |
| Q4 2016 | -20.8% | -19.6% | -21.8% | |
| Q3 2016 | -5.6% | -8.9% | +5.1% | |
| Q2 2016 | +4.7% | -11.0% | -10.7% | |
| Q1 2016 | +34.0% | — | — | |
| Q4 2015 | -0.4% | — | — | |
| Q3 2015 | +15.5% | — | — | |
| Q2 2015 | +15.4% | — | — | |
| Q1 2014 | +12.4% | — | — | |
| Q1 2015 | +12.4% | — | — | |
| Q4 2012 | -0.4% | — | — | |
| Q1 2013 | -0.4% | — | — | |
| Q4 2014 | -9.4% | — | — | |
| Q3 2013 | -3.4% | — | — | |
| Q3 2014 | -8.1% | — | — | |
| Q2 2013 | -1.2% | — | — | |
| Q4 2013 | -1.2% | — | — | |
| Q2 2014 | -12.6% | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro