Articles from Rayonier Advanced Materials Inc.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company” or “RYAM”), the global leader in High Purity Cellulose, today announced unaudited preliminary financial results for the fiscal year ended December 31, 2024, and provided an update on tariffs. These preliminary 2024 results remain subject to completion of the company’s fiscal year financial audit.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company” or “RYAM”), the global leader in High Purity Cellulose, announced it has raised a €67 million in green capital. The financing includes €37 million in secured term loans from French banks Crédit Lyonnais, Arkéa Banque, and BNP Paribas at an initial floating rate of approximately 5 percent, maturing in seven years. An additional €30 million in preferred equity will be provided by Swen Capital Partners through its strategy SWEN Impact Fund for Transition 3 for a 20% stake in the newly formed subsidiary, RYAM BioNova S.A.S.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) today reported results for its third quarter ended September 28, 2024.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company” or “RYAM”), the global leader in High Purity Cellulose, and its wholly-owned subsidiary, Rayonier A.M. Products Inc. (the “Issuer”), announced today that the previously-announced cash tender offer by the Issuer to purchase any and all of the Issuer’s outstanding 7.625% Senior Secured Notes due 2026 (the “notes”) expired at 5:00 p.m., New York City time, on November 4, 2024 (such time and date, the “Expiration Date”), pursuant to the terms of the offer to purchase, dated as of October 29, 2024 (the “Offer to Purchase”), and the notice of guaranteed delivery attached thereto (the “Notice of Guaranteed Delivery”). As of the Expiration Date, according to information provided by the information and tender agent for the tender offer, $135,486,000 aggregate principal amount of the notes were validly tendered and not validly withdrawn, representing 29.93% of the aggregate principal amount of the notes outstanding, which does not include $143,000 aggregate principal amount of the notes for which a Notice of Guaranteed Delivery was timely delivered and that remain subject to the guaranteed delivery procedures set forth in the Offer to Purchase and the Notice of Guaranteed Delivery. Withdrawal rights for the tender offer expired at the Expiration Date, and accordingly, notes validly tendered in the tender offer may no longer be withdrawn except where additional withdrawal rights are required by law.

Rayonier Advanced Materials Inc. (NYSE: RYAM, the “Company”) today announced the publication of its 2023 Sustainability Report, which outlines the Company’s progress in driving innovation, environmental stewardship, corporate social responsibility, and governance efforts. The report highlights RYAM’s continued commitment to sustainable growth, as well as its dedication to operational excellence and community engagement.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company” or “RYAM”), the global leader in High Purity Cellulose, announced it has raised $700 million in aggregate principal amount of secured term loan financing (the “Term Loan”) from funds managed by Oaktree Capital Management, L.P., as lead lender, as well as certain affiliates and managed funds of Silver Point Capital, L.P. and Blue Torch Capital LLC. Proceeds from the Term Loan, along with cash from the Company’s balance sheet are expected to be used to purchase, defease and redeem RYAM’s existing 2026 senior secured notes, to repay RYAM’s existing 2027 secured term loan financing in full and to pay related fees and expenses.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company” or “RYAM”), the global leader in High Purity Cellulose, and its wholly-owned subsidiary, Rayonier A.M. Products Inc. (the “Issuer”), announced today that the Issuer has commenced a cash tender offer to purchase any and all of the Issuer’s outstanding 7.625% Senior Secured Notes due 2026 (the “notes”). As of October 29, 2024, the Issuer had $452,640,000 aggregate principal amount of notes outstanding.

Rayonier Advanced Materials Inc. (NYSERYAM) ("RYAM"), a leader in High Purity Cellulose, today announced that its Jesup, Georgia facility has fully resumed operations ahead of schedule, following an isolated fire on October 11. All production lines have returned to producing on-grade material at full capacity.

Rayonier Advanced Materials (NYSERYAM) plans to release its third quarter 2024 earnings on Tuesday, November 5, 2024, after the market closes.

Rayonier Advanced Materials Inc. (NYSERYAM) ("RYAM"), a leader in High Purity Cellulose, announced today that power has been fully restored to its Jesup, Georgia site and that the A Line has restarted operations. The A Line, which primarily produces cellulose specialties for use in filtration, food and pharmaceuticals, and tire cord, is currently operating at approximately 80 percent capacity, with an anticipated ramp-up to full capacity within a week. Repair work on the B line is ongoing and is expected to be completed with a restart on or around October 28.

Rayonier Advanced Materials Inc. (NYSERYAM) ("RYAM"), a leader in High Purity Cellulose, reported that an isolated fire occurred at its Jesup, Georgia facility on October 11 at approximately 6 p.m. during planned maintenance activity. Thanks to the swift action of internal emergency response teams and local firefighters, the fire was quickly contained with no injuries to employees or contractors and no risk to the surrounding community. The Company is thoroughly investigating the event’s causes in close collaboration with relevant experts and authorities.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) announced today that Eric M. Bowen has been elected to its Board of Directors, effective September 9, 2024.

Rayonier Advanced Materials Inc. (NYSE: RYAM, the "Company") announced today that, effective immediately, it will increase prices for its Cellulose Specialties products by up to 10 percent, depending on product grade, as contracts allow. This increase is driven by market dynamics, cost inflation, and other economic drivers.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) today reported results for its second quarter ended June 29, 2024.

Rayonier Advanced Materials (NYSERYAM) plans to release its second quarter 2024 earnings on Tuesday, August 6, 2024, after the market closes.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”), the global leader in High Purity Cellulose, today announced that Senior Vice President of High Purity Cellulose, Joshua Hicks, will participate in a fireside chat with coverage analyst Dmitry Silversteyn from Water Tower Research on June 26, 2024.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”), the global leader in High Purity Cellulose, today announced that President and Chief Executive Officer, De Lyle Bloomquist, will meet with investors in one-on-one settings as well as a group presentation at the Stifel Cross Sector Insight Conference on June 5, 2024.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) today reported results for its first quarter ended March 30, 2024.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”), the global leader in High Purity Cellulose, today announced it has reached agreement regarding the sale to OCP Lumber LLC of the Company’s entitlements to refunds, including all accrued interest, related to the duties imposed on softwood lumber exported by the Company from Canada into the United States during a specific period between 2017 and 2021.

Rayonier Advanced Materials Inc. (NYSERYAM) is announcing that, effective July 2, 2024, it will suspend operations at its Temiscaming High Purity Cellulose (HPC) plant for an indefinite period. As previously communicated, the Company remains committed to operating its assets profitably.

Rayonier Advanced Materials (NYSERYAM) plans to release its first quarter 2024 earnings on Tuesday, May 7, 2024, after the market closes.

Rayonier Advanced Materials Inc. (NYSERYAM) is pleased to announce the successful shipment of our first production of 2G bioethanol from our Tartas plant, following two years of rigorous research, development, construction, and planning.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”), the global leader in High Purity Cellulose, today announced that members of its senior management team will be participating in four upcoming equity conferences during the month of March.

Rayonier Advanced Materials Inc. (NYSERYAM) and VERSO ENERGY have entered into a Memorandum of Understanding (MoU) to explore e-fuels and specifically e-SAF or Sustainable Aviation Fuel from renewable resources. As part of the MoU, the companies will explore the feasibility of using the Biogenic Carbon Dioxide (Biogenic CO2) produced at RYAM’s Tartas France plant along with Green Hydrogen to produce eSAF, a vital product needed to help reduce the world’s rising greenhouse gases through Carbon Capture Utilization. The companies expect to qualify for grants from the French government to help fund the cost of this multi-year feasibility study.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) today reported results for the fourth quarter and full year 2023.

Rayonier Advanced Materials (NYSERYAM) plans to release its fourth quarter 2023 earnings on Tuesday, February 27, 2024, after the market closes.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”), the global leader in High Purity Cellulose, today announced that it has reached an agreement with lenders under its Term Loan Credit Agreement to obtain financial covenant relief for the period beginning with the fourth quarter of the Company’s 2023 fiscal year through the end of its 2024 fiscal year.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”), the global leader in High Purity Cellulose, today announced that President and Chief Executive Officer, De Lyle Bloomquist, is slated to speak at the Sidoti December Virtual Investor Conference, scheduled for December 7, 2023.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) reported a net loss of $25 million, or $(0.39) per diluted share, for the quarter ended September 30, 2023, compared to net income of $30 million, or $0.45 per diluted share, for the prior year quarter. Loss from continuing operations for the quarter ended September 30, 2023 was $27 million, or $(0.41) per diluted share, compared to income from continuing operations of $18 million, or $0.28 per diluted share, for the prior year quarter.

Rayonier Advanced Materials (NYSERYAM) plans to release its third quarter 2023 earnings on Tuesday, November 7, 2023, after the market closes.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”), the global leader in High Purity Cellulose, today announced that it has engaged Houlihan Lokey as its financial advisor to explore the potential sale of its paperboard and high-yield pulp assets located at its Temiscaming site.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”), the global leader in High Purity Cellulose, outlined its financial growth strategy during the 2023 Investor Day event earlier today.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) is announcing that in order to optimize inventory levels and address lower-than-anticipated demand, its Témiscaming Paperboard operation and one of its High-Yield Pulp lines will be idled for 3 weeks, beginning on October 7, 2023. Customer orders will not be affected.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) announced today that Bryan D. Yokley has been elected to its Board of Directors, effective October 1, 2023.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) is excited to announce its upcoming Investor Day event scheduled for October 10, 2023. This event provides investors, analysts, and the financial community with a unique opportunity to gain insights into RYAM's strategic direction, business initiatives, and financial outlook.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) reported a net loss of $17 million, or $(0.26) per diluted share, for the quarter ended July 1, 2023, compared to a net loss of $23 million, or $(0.36) per diluted share, for the prior year quarter. Loss from continuing operations for the quarter ended July 1, 2023 was $16 million, or $(0.24) per diluted share, compared to a loss from continuing operations of $25 million, or $(0.39) per diluted share, for the prior year quarter.

Rayonier Advanced Materials (NYSERYAM) plans to release its second quarter 2023 earnings on Tuesday, August 8, 2023, after the market closes.

Rayonier Advanced Materials Inc. (NYSERYAM) (“RYAM”), a global leader in the production of high-purity cellulose specialties and other sustainable materials, is pleased to announce that it has obtained $250 million in aggregate principal amount of secured term loan financing (the “Term Loan”) from funds managed by Oaktree Capital Management, L.P. (“Oaktree”). The proceeds from the Term Loan, along with approximately $85 million in balance sheet cash, will be used to redeem the remaining $318 million in aggregate principal amount of RYAM’s existing 2024 senior unsecured notes and to pay fees and expenses associated with the transactions. The Term Loan will mature on July 20, 2027.

Rayonier Advanced Materials Inc. (NYSE: RYAM, the “Company”), a global leader in the production of high-purity cellulose specialty products, hosted a groundbreaking ceremony at its new second-generation Bioethanol plant located in Tartas, Les Landes France, on Thursday, June 15, 2023. The plant’s construction commenced in January 2023. This event was attended by prominent individuals and RYAM’s executive leadership team members, including President and CEO, De Lyle Bloomquist.

Rayonier Advanced Materials Inc. (NYSERYAM) announced today that De Lyle Bloomquist, President and Chief Executive Officer will be presenting at the Stifel 2023 Cross Sector Insight Conference on Wednesday, June 7, 2023, and hosting meetings with investors. Marcus Moeltner, the Company’s Chief Financial Officer and Senior Vice President Finance is unable to attend as previously announced.

Rayonier Advanced Materials Inc. (NYSERYAM) announced today Marcus J. Moeltner, its Chief Financial Officer, Senior Vice President Finance, will be presenting at the Stifel 2023 Cross Sector Insight Conference on Wednesday, June 7, 2023, and hosting meetings with investors.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) reported net income of $2 million, or $0.02 per diluted share, for the quarter ended April 1, 2023, compared to a net loss of $25 million, or $(0.39) per diluted share, for the prior year quarter. Income from continuing operations for the quarter ended April 1, 2023 was $2 million, or $0.02 per diluted share, compared to a loss from continuing operations of $24 million, or $(0.38) per diluted share, for the prior year quarter.

Rayonier Advanced Materials (NYSERYAM) plans to release its first quarter 2023 earnings on Tuesday, May 9, 2023, after the market closes.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company” or “RYAM”) is pleased to announce that Michael Osborne joined the company on April 10, 2023, as Vice President, Manufacturing replacing Bill Manzer, who has announced his plans to retire. Michael is a thirty-plus-year manufacturing veteran, most recently holding the position of Vice President, Global Manufacturing for Kraton Pine Chemicals.

Rayonier Advanced Materials Inc. (NYSERYAM) announced today De Lyle W. Bloomquist, President and CEO, will be presenting at the Gabelli Funds 14th Annual Specialty Chemicals Symposium on Thursday, March 16, 2023, at 1:00 PM ET.

Rayonier Advanced Materials Inc. (NYSERYAM) announced today Marcus J. Moeltner, its Chief Financial Officer, Senior Vice President Finance, will be presenting at the 2023 J.P. Morgan Global High Yield & Leveraged Finance Conference on Monday, March 6, 2023, and hosting meetings with investors.

In the "Conference Call Information" section, the website should be www.RYAM.com (instead of www.RYAMglobal.com), the dial-in number should be 877-407-8293 (instead of 888-645-4404), the international dial-in number should be 201-689-8349 (instead of 404-267-0371) and the replay Conference ID should be 13735580 (instead of 13731224).

Rayonier Advanced Materials Inc. (NYSE: RYAM, the “Company”) today announced the release of its 2022 Environmental, Social and Governance (ESG) Progress Update (the “Update”), as a supplement to the Company’s comprehensive 2021 ESG Report. The Update details RYAM’s progress against its disclosed greenhouse gas reduction targets and provides enhanced SASB-aligned disclosures around energy consumption, water usage, waste management and other key industry metrics. Additionally, the Update highlight’s RYAM’s progress with respect to various Diversity and Inclusion initiatives along with its other Human Rights commitments.

Rayonier Advanced Materials Inc. (NYSERYAM) (“RYAM” or “the Company”) today announced that its wholly owned subsidiary, Rayonier A.M. Products Inc., has decided not to pursue at this time its opportunistic private offering of $325 million aggregate principal amount of senior secured notes due 2028 (the “Notes”) as current terms and conditions were not sufficiently attractive for the Company. As a result, the Company does not intend to redeem its senior unsecured notes due 2024 (the “2024 Notes”) at this time.

Rayonier Advanced Materials Inc. (NYSERYAM) (“RYAM”) today announced that its wholly owned subsidiary, Rayonier A.M. Products Inc. (the “Company”), has commenced a private offering (the “Offering”) of $325 million aggregate principal amount of senior secured notes due 2028 (the “Notes”), subject to market and other conditions. If the Offering is consummated, the Company intends to use the net proceeds from the sale of the Notes, together with cash on hand, to redeem in full its senior unsecured notes due 2024 (the “2024 Notes”).

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company” or “RYAM”) today announced preliminary, unaudited fourth quarter and full year results.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) announced today that the force majeure declared by its natural gas provider, Southern Natural Gas Company, L.L.C., due to an unscheduled outage of the Elba Express Pipeline’s Hartwell Compressor Station (the “SNG Force Majeure Event”, or “Event”) has been cancelled. The Event impacted natural gas supply to the Company’s facility in Jesup, Georgia, and has resulted in an estimated $4 million EBITDA impact to the Company. The Company continues to reserve all rights to more fully examine, and potentially contest, the validity of the financial penalty it has been assessed.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) announced today that its facility at Jesup, Georgia has been impacted by a force majeure declared by its natural gas provider, Southern Natural Gas Company, L.L.C., due to an unscheduled outage of the Elba Express Pipeline’s Hartwell Compressor Station (the “SNG Force Majeure Event”, or “Event”). Southern Natural Gas Company’s notice of this Event can be found at:

Rayonier Advanced Materials Inc. (NYSERYAM) announced today Marcus J. Moeltner, its Chief Financial Officer, Senior Vice President Finance, will be presenting at the 2022 Bank of America Leveraged Finance Conference in Boca Raton, Florida, on Wednesday, November 30, 2022. Management will also be hosting meetings with investors on November 29 and 30, 2022.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) reported net income of $30 million, or $0.45 per diluted share, for the quarter ended September 24, 2022, compared to a net loss of $5 million, or $(0.07) per diluted share, for the same prior year quarter. Income from continuing operations for the quarter ended September 24, 2022 was $18 million, or $0.28 per diluted share, compared to a loss from continuing operations of $13 million, or $(0.21) per diluted share, for the same prior year quarter. The Company sold its lumber and newsprint assets in the third quarter of 2021 and presents the results of those operations as discontinued operations. Unless otherwise stated, information in this press release relates to continuing operations.

Rayonier Advanced Materials Inc. (NYSE: RYAM or the “Company”), a global leader in the production of renewable, cellulose-based specialty materials, has been recognized by Women Executive Leadership (WEL) for accelerating gender diversity in the boardroom.

Rayonier Advanced Materials Inc. (NYSERYAM) announced today Marcus J. Moeltner, its Chief Financial Officer, SVP Finance, will be presenting at Deutsche Bank's 30th Annual Leveraged Finance Conference in Scottsdale, Arizona, on September 20, 2022.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) reported a net loss of $23 million or $(0.36) per diluted share for the quarter ended June 25, 2022, compared to net income of $122 million or $1.89 per diluted share for the same prior year quarter. The net loss from continuing operations for the quarter ended June 25, 2022, was $25 million or $(0.39) per diluted share, compared to net income from continuing operations of $8 million or $0.13 per diluted share for the same prior year quarter. The Company sold its lumber and newsprint assets in the third quarter of 2021, and as a result, presents the results of those operations as discontinued operations. Net income from continuing operations in the prior year quarter included a $25 million tax benefit resulting from remeasuring the Company’s Canadian deferred tax assets at a higher tax rate following the announcement of the disposal. Unless otherwise stated, information in this press release relates to continuing operations.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) today announced updated Adjusted EBITDA guidance for full year 2022 of approximately $160 million subject to supply chain volatility and timing of sales recognition. Comparatively, the Company delivered $128 million of Adjusted EBITDA in 2021. This updated guidance comes as the planned maintenance outages at all four of the Company’s manufacturing facilities is expected to be completed by the end of June.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) today announced that De Lyle W. Bloomquist has been appointed President and Chief Executive Officer of the Company, effective immediately. Mr. Bloomquist succeeds Vito J. Consiglio, who has stepped down as President and Chief Executive Officer of the Company, and as a member of the Company’s Board of Directors (the “Board”), with the mutual agreement of the Board. In connection with Mr. Bloomquist’s appointment, the Board named Lisa M. Palumbo as Non-Executive Chair of the Board.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) reported a net loss of $25 million or $(0.39) per diluted share for the quarter ended March 26, 2022, compared to net loss of $27 million or $(0.43) per diluted share for the same prior year quarter. The net loss from continuing operations for the quarter ended March 26, 2022 was $24 million or $(0.38) per diluted share, compared to net loss from continuing operations of $16 million or $(0.26) per diluted share for the same prior year quarter. The increase in the diluted loss per share was driven primarily by higher key input costs. Loss from discontinued operations for the quarter ended March 26, 2022 was $1 million or $(0.01) per diluted share, compared to a loss from discontinued operations of $11 million or $(0.17) per diluted share for the same prior year quarter. The Company sold its lumber and newsprint assets in the third quarter of 2021, and as a result, reclassified prior year amounts to conform to the presentation for discontinued operations. Unless otherwise stated, information in this press release relates to continuing operations.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) announced that it has sold 28,684,433 common shares of GreenFirst Forest Products Inc. to a wholly-owned subsidiary of Interfor Corporation for approximately $43.3 million. The agreement contains a Purchase Price Protection clause whereby the Company is entitled to participate in further stock price appreciation under certain circumstances and for a specified period.

Rayonier Advanced Materials Inc. (NYSERYAM) plans to release its first quarter 2022 earnings on Tuesday, May 3, 2022 after the market closes.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) today issued the following statement in response to Chatham Asset Management LLC’s (“Chatham”) open letter to stockholders:

Rayonier Advanced Materials Inc. (NYSE: RYAM, the “Company”), a pioneer in the production of fluff pulp, today announced that it qualifies as an “Inspected Raw Material” by Nordic Swan Ecolabelling. The Nordic Swan Ecolabel sets strict environmental requirements in all phases of manufacturing, including requirements for eco-friendly chemicals used in ecolabeled products. The status will appear on products made with RYAM’s fluff pulp and indicates to consumers and commercial buyers that the product is sustainably produced and environmentally friendly.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company "), a global leader of high purity cellulose, announced today a cost surcharge of USD 146 (EUR 133) per metric ton applicable to all shipments of its cellulose specialties and viscose-grade products.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) issued the following statement today in response to the March 17, 2022 letter from Chatham Asset Management, LLC (“Chatham”) sent to the independent members of Company’s Board of Directors.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) announced today that its Board of Directors adopted a limited duration stockholder rights plan (the “Rights Plan”) and declared a dividend distribution of one preferred share purchase right on each outstanding share of Company common stock. The Rights Plan is intended to enable all Company stockholders to realize the long-term value of their investment in the Company and is designed to protect all stockholder interests by reducing the likelihood that any person or group could gain control of the Company through rapid open-market purchases of the Company’s shares without appropriately compensating Company stockholders for control. In adopting the Rights Plan, the Board noted, in particular, the recent unusual stock trading activity and the accumulation of a substantial position in the Company by entities associated with Chatham Asset Management, LLC.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) reported a net loss of $24 million or $0.38 per diluted share for the quarter ended December 31, 2021, compared to net income of $9 million or $0.14 per diluted share for the same prior year quarter. The net loss from continuing operations for the quarter ended December 31, 2021 was $28 million or $0.45 per diluted share, compared to net loss from continuing operations of $29 million or $0.46 per diluted share for the same prior year quarter. The improvement in the diluted loss per share was driven primarily by higher High Purity Cellulose prices. Income from discontinued operations for the quarter ended December 31, 2021 was $4 million or $0.07 per diluted share, driven by income tax benefit, compared to income from discontinued operations of $38 million or $0.60 per diluted share for the same prior year quarter. The Company sold its lumber and newsprint assets in the third quarter of 2021, and as a result, the Company has reclassified certain prior year amounts to conform to the current year presentation for discontinued operations. Unless otherwise stated, information in this press release relates to continuing operations.

Rayonier Advanced Materials Inc. (NYSE: RYAM, the “Company”) today announced the release of its 2021 Environmental, Social and Governance (ESG) Report. The report details the Company's accomplishments, progress and commitments with respect to its careful stewardship of tremendous assets and valuable resources. In the report, the Company communicates its goal of a 40 percent reduction in scope 1 and scope 2 greenhouse gas (GHG) emissions by 2030 versus a 2020 base year. The report’s disclosures are aligned to the TCFD, SASB and GRI frameworks.

Rayonier Advanced Materials Inc. (NYSERYAM) plans to release its fourth quarter 2021 earnings on Wednesday, February 23, 2022 after the market closes.

Rayonier Advanced Materials Inc. (NYSERYAM) today announced that its Board of Directors elected Vito J. Consiglio to succeed Paul G. Boynton as President and Chief Executive Officer and Board member effective January 1, 2022. Mr. Boynton, who has served as President and CEO since the Company’s spin-off in 2014, announced his decision to retire from the Company, and, as part of the leadership transition, he will assume the role of Vice Chair of the Board until the May 2022 Annual Meeting.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) announced today that the Company plans to submit two important management proposals to the Company’s stockholders for a vote at its next Annual Stockholder Meeting in May of 2022. The first proposal would seek stockholder approval to amend the Company’s Certificate of Incorporation (the “Charter”) in order to declassify the Company’s Board of Directors and allow for the annual election of directors. The second proposal would seek stockholder approval to amend the Company’s Charter to eliminate supermajority voting requirements that currently exist for certain amendments to the Company’s Charter and Bylaws.

Rayonier Advanced Materials Inc. (NYSERYAM) (the “Company”) reported a net loss of $5 million or a net loss of $0.07 per diluted share, compared to net income of $29 million or $0.45 per diluted share for the same prior year quarter. The net loss from continuing operations for the quarter ended September 25, 2021 was $13 million or $0.21 per diluted share, compared to net income from continuing operations of $13 million or $0.20 per diluted share for the same prior year quarter. The decrease in the diluted earnings per share was primarily due to significant income tax benefits recorded in the prior year. Income from discontinued operations for the quarter ended September 25, 2021 was $9 million or $0.14 per diluted share, compared to income from discontinued operations of $16 million or $0.25 per diluted share for the same prior year quarter. The decrease in the diluted earnings per share was due to lower lumber sales volumes as only two months of activity are recorded in the current quarter along with a higher income tax expense. As a result of the sale of lumber and newsprint assets, the Company has reclassified certain prior year amounts to conform to the current year presentation for discontinued operations. Unless otherwise stated, information in this press release relates to continuing operations.

Rayonier Advanced Materials Inc. (NYSERYAM) plans to release its third quarter 2021 earnings on Tuesday, November 2, 2021, after the market closes.