Rayonier Advanced Materials set for best day in seven months on upbeat forecast

Rayonier Advanced Materials

02/11/2022 15:49

** Shares of cellulose-based tech company Rayonier Advanced
Materials Inc  RYAM.N  up 39.3% at $6.22, hitting their highest
level in nearly seven months
    ** Co expects FY adj. EBITDA to exceed $175 mln vs previous
estimate of >$160 mln
    ** On an adj. basis, co reports EPS of 28 cents/shr, beating
analyst's expectations of 10 cents/shr, as per IBES Refinitiv
data
    ** Net sales stood at $466 mln, up 25% YoY, helped by gains
in its high purity cellulose segment
    ** RYAM up 10.4% YTD compared with a 14.3% decline in the
S&P 600 Small Cap Index  .SPCY 
 (Reporting by Shashwat Chauhan in Bengaluru)
 ((Shashwat.Chauhan@thomsonreuters.com))