Rayonier Advanced Materials sees FY23 adjusted EBITDA roughly $150M

Overall, loss from continuing operations is expected to be approximately $45 million, with Adjusted EBITDA of approximately $150 million for 2023. The Company expects to spend approximately $85 million on custodial capital expenditures and approximately $35 million on discretionary strategic capital expenditures, net of financing. Strategic capital may be modulated as necessary to support Adjusted Free Cash Flow. The Company is targeting $85 to $95 million of benefit from working capital to support Adjusted Free Cash Flow for the year. Overall, the Company expects to generate $65 to $75 million of Adjusted Free Cash Flow in 2023.