Rayonier Advanced Materials sees FY23 adjusted EBITDA $185M-$200M

Overall, loss from continuing operations is expected to be approximately $17 to $2 million, with Adjusted EBITDA of approximately $185 to $200 million for 2023. The Company expects to spend approximately $95 million on custodial capital expenditures and approximately $30 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 $55 million of benefit from working capital to support Adjusted Free Cash Flow for the year. Overall, the Company expects to generate $55 to $70 million of Adjusted Free Cash Flow in 2023.