Rayonier Advanced Materials | 10-Q: FY2025 Q3 Revenue Misses Estimate at USD 352.84 M

Revenue: As of FY2025 Q3, the actual value is USD 352.84 M, missing the estimate of USD 373.6 M.

EPS: As of FY2025 Q3, the actual value is USD -0.07, meeting the estimate of USD -0.07.

EBIT: As of FY2025 Q3, the actual value is USD 34.5 M.

Cellulose Specialties

• Net Sales: $204 million for the three months ended September 27, 2025, a decrease from $232 million in the same period in 2024.
• Operating Income: $49 million for the three months ended September 27, 2025, an increase from $46 million in the same period in 2024.
• Average Sales Price: $1,873 per MT for the three months ended September 27, 2025, up from $1,753 per MT in the same period in 2024.

Biomaterials

• Net Sales: $8 million for the three months ended September 27, 2025, unchanged from the same period in 2024.
• Operating Income: $1 million for the three months ended September 27, 2025, down from $3 million in the same period in 2024.

Cellulose Commodities

• Net Sales: $85 million for the three months ended September 27, 2025, a slight decrease from $86 million in the same period in 2024.
• Operating Loss: $13 million for the three months ended September 27, 2025, an improvement from a $55 million loss in the same period in 2024.
• Average Sales Price: $893 per MT for the three months ended September 27, 2025, up from $830 per MT in the same period in 2024.

Paperboard

• Net Sales: $39 million for the three months ended September 27, 2025, down from $55 million in the same period in 2024.
• Operating Loss: $4 million for the three months ended September 27, 2025, compared to an operating income of $7 million in the same period in 2024.

High-Yield Pulp

• Net Sales: $24 million for the three months ended September 27, 2025, down from $28 million in the same period in 2024.
• Operating Loss: $10 million for the three months ended September 27, 2025, compared to break-even in the same period in 2024.

Corporate

• Operating Loss: $14 million for the three months ended September 27, 2025, an improvement from an $18 million loss in the same period in 2024.

Outlook

• Overall EBITDA: Expected to approximate $135 million to $140 million for the full year 2025, with a projection to more than double EBITDA over the next two years.
• Adjusted Free Cash Flow: Expected to approximate $25 million to $30 million in the fourth quarter of 2025.
• Strategic Initiatives: Plans to achieve over $300 million in run-rate EBITDA by the end of 2027, with further upside as the AGE project comes online in late 2028.