RYAM Announces Fourth Quarter and Full Year 2023 Results and Provides Improved Outlook for 2024
Retrieved on:
Tuesday, February 27, 2024
Construction & Property, Natural Resources, Other Manufacturing, Packaging, Chemicals, Plastics, Other Construction & Property, Manufacturing, Forest Products, ERP, Operating cost, Line C, LTF, Note, Acetate, Sale, Paperboard, Cellulose, Adjustment, Conference, USDOC, Ether, Public expenditure, Corporation, Fine chemical
Net sales for the fourth quarter decreased $37 million, or 10 percent, to $347 million compared to the same prior year quarter.
Key Points:
- Net sales for the fourth quarter decreased $37 million, or 10 percent, to $347 million compared to the same prior year quarter.
- Compared to the third quarter of 2023, the operating loss increased $43 million, primarily due to the $62 million non-cash impairment recorded in the fourth quarter and higher labor costs.
- Overall, EBITDA is expected to remain relatively flat in the first quarter of 2024 compared to the fourth quarter of 2023, with a strong finish in the back half of 2024.
- Raw material prices are expected to increase as purchased pulp prices are forecast to increase from fourth quarter 2023 levels.