Rayonier Advanced Materials targets $325M in annual EBITDA over next 5 years

Rayonier Advanced Materials outlined its financial growth strategy during the 2023 Investor Day event earlier today. Key highlights of the presentation include the company’s outlook as follows: “Core Cellulose Specialties business expected to benefit from recent capacity closure in the industry. Focus on generating free cash flow and repaying debt to position the Company to refinance its 2026 Notes in 2024. Investments to expand Biomaterials business provide compelling growth prospects financed with low-cost capital. Conducting strategic review of Temiscaming site including a potential sale of non-core businesses with proceeds expected to be applied toward debt reduction. Executing strategy to minimize negative EBITDA impact of commodity viscose and paper pulp products. Demonstrating a willingness to curtail production based on market conditions. Near-term hurdles with expected lower third-quarter results and guidance for the full year. A more detailed update to be provided at the next quarter earnings call in early November. Financial vision centered on achieving $325 million in annual EBITDA over the next five years.”