Yeah, good morning, John. As mentioned previously, we are focused on maximizing free cash flow through minimizing working capital and efficiently allocating capital to maintain our assets. You saw our capex level for Cabot One was slightly lower than usual. On the logistics side, that would have rolled from one quarter to the next quarter. Yeah, I'll let Frankie expand on this. As Marcus highlighted, our credit agreement amendment provides us with further financial flexibility and improved liquidity. Look, Paul, we would like to add, probably the biggest constraint in both those communities is just labor, we are competing against a really strong labor market with strong mining. Okay, And then going forward, I guess, we got to worry about that line with an appreciating Canadian dollar right, which is exactly what we're seeing right now. The next step in the process will come later this year or early next year as the tariffs are expected to decline from 20% to 8% once the preliminary determination is finalized. And then finally on working capital improvement, we talked there is an opportunity out there $25 million. What should we expect going forward? ET, Good morning and welcome to the Rayonier Advanced Materials Second Quarter 2020 Earnings Conference Call. We continue to see gains on wood, chemicals and some energy inputs. The balance of that is kind of that operational improvement as you stabilize and operation with a more predictable grade run, right, less less grade changes. All Rights Reserved. It will be more in normal volumes, what we've seen in the past years. First off, maybe I missed it. Energy about one and then some chemicals, but we can certainly give you that after the call. Financially, results were pressured by the pandemic and did not meet our expectations compared to guidance, but we are seeing some signs of improvements in certain areas, which I will discuss later. So that's been helpful. Click here for webcast. So effectively moved a lot of that inventory into receivable and then we hope to bring that receivable down now and continue our progress toward the working capital target that we mentioned that Paul alluded to. It operates through the following segments: High Purity Cellulose, Forest Products, Paperboard, Pulp and Newsprint, and Corporate. And again, I think we're on pace to improve upon that. So yeah, so up 50% in the second quarter of this quarter as well. Rayonier Advanced Materials Inc. (NYSE:RYAM) Q2 2017 Earnings Conference Call - Preliminary Transcript Greetings, and welcome to the Rayonier Advanced Materials' Second Quarter 2017 Earnings Call. Please proceed with your question. Third, we are focused on maximizing cash flow in liquidity. Rayonier Advanced Materials has generated ($2.16) earnings per share over the last year. And you've seen better reliability of operations in that facility this year, which has been helpful with less grade changes in the like. We focused on drawing down our inventories. Rayonier Advanced Materials has a P/B Ratio of 0.36. Rayonier Advanced Materials Inc (RYAM) Q2 2020 Earnings Call Transcript finance.yahoo.com - August 5 at 8:36 PM: Rayonier Advanced Materials Announces Second Quarter 2020 Results finance.yahoo.com - August 4 at 7:05 PM: Rayonier Advanced Materials Schedules Second Quarter Earnings Release finance.yahoo.com - July 22 at 7:59 PM In June, we finalized an amendment to our senior secured credit agreement. EBITDA for the segment improved $13 million from prior year, driven by reduced costs for wood, labor, energy and duties. I think the broader decrease from the 11 to 12 that we put out last quarter to the 16. I mean, the duties are going down as they are imminently from 20% to 8% is kind of an acknowledgment that the duties should have been there in the first place. Our next question comes from the line of Paretosh Misra with Berenberg. I think that's the one area we're a bit behind on and that's largely related to COVID, moving inventories around, but I think it's proven in the back half of the year, is there, and we're going to continue the target that. Any employment agency or professional recruiter ("Agency") that submits an unsolicited resume to Rayonier Advanced Materials' career site or directly to any employee, does so with the understanding that the resume will become the property of Rayonier Advanced Materials. Rayonier Advanced Materials is a supplier of high-purity, cellulose specialties natural polymers for the chemical industry for use in a wide range of industrial and consumer products such as filters, cosmetics and pharmaceuticals. Rayonier Advanced Materials : Q2 20 Earnings Release Presentation. And the cash deposits, we continue to accrue, but as you know it's going to take some time to have a resolution on the file, right. Thank you. Primary # - 877-407-8293. So it's going to be in between that, again, as we kind of commented several times, we're just going to have to keep flexing to the market to make sure that we stay optimal. Let's start with lumber, you mentioned, really capacity 755, did I understand that includes the two mills in the three shifts and which mills are those? Date: Apr-30-2020 at 10:00 AM EDT. I'd also say that a major part of that realignment was move in our C-line and Jesup to fluff pulp and the spread of profitability on fluff over viscose this year given how weak viscose has been, has been meaningful for us. Good luck with everything. Liquidity improved $21 million from the prior quarter, driven by $16 million of free cash flow in the quarter and the amendment to our credit agreement. Rayonier was founded in 1926 in Shelton, Washington and today is headquartered in Wildlight, Florida. So we got all our assets up and running full. Primary # - 877-407-8293. Okay, that's helpful. So when lumber is going parabolic like it is currently, can you convince the guys and I guess, guys and gals to stay on the job, but how much production will you lose if, in fact, if I'm correct about this, kind of global vacation? So again thank you for your time today. Rayonier Inc. Bottom Line Drops In Q2. Earnings Preview: Rayonier Advanced Materials (RYAM) Q2 Earnings Expected to Decline 2019-07-25 zacks.com - 1 - Wall Street expects a year-over-year decline in earnings on lower revenues when Rayonier Advanced Materials (RYAM - Free Report) reports results for the quarter ended June 2019. In return, we increased the LIBOR floor on our borrowings to 1% from 0%. We saw significant price decline in commodity, High Purity Cellulose products, Viscose and Fluff pulp, as well as in both high yield pulp and newsprint compared to prior year. Our roots run deep, with more than 85 years of experience in providing our customers with exceptional quality, service and value. All right, that's all I had. It's too hard to specify that in for their customers, your customers' customers? Friday, August 3, 2018 10:00 am EDT Webcast Presentation. Just want to confirm, that's your money, right? Rayonier Advanced Materials Inc. has reported its third quarter 2020 results, citing income from continuing operations of $29 million or $0.45 per diluted share, compared to a loss from continuing operations of $14 million or $0.29 per diluted share for the same prior-year quarter. We'll continue to watch and to monitor and flex to, but we don't have that as an issue in our plans going forward. During today's presentation all parties will be in a … Rayonier Advanced Materials Inc (RYAM) Q2 2019 Earnings Call Transcript. We have moved to a gross leverage test as part of our recent amendment. Rayonier Advanced Materials (RYAM) delivered earnings and revenue surprises of -94.44% and -0.93%, respectively, for the quarter ended June 2019. The -- Roger, it's Marcus. Mickey Walsh – Treasurer and Vice President of Investor Relations The accelerated volume decline was driven by reduced demand for automotive, industrial and construction ethers grades, plus an additional 2% due to logistic issues, both of which are COVID related. August 5, 2020 9:00 AM ET. And so that was a real big push and with that four different key elements, right? But we won't quite come up to last year volume levels. And Washington's had two successive delays now. We had some disruption on transportation on all of those actually, but not in the actual asset itself. Company Participants. No, I would agree, I think customers are always looking to find ways to lower overall input costs, but the product quality and performance issues tend to pop up on lower quality, lower grade pulps. Our next question comes from the line of Paul Quinn with RBC Capital Markets. Zacks Equity Research. So we are seeing some of that as an opportunity. Read full article. ... June 2014 Rayonier Advanced Materials Investor Presentation . But as you know, the newsprint market has been severely hit. Wood was in the range of two. Please proceed with your question. Additionally, we expect duties on sales to the United States from our Canadian mills to be reduced 8% from 20% later this year or early next year. Normalizing for these sales prices would generate $80 million to $95 million of incremental EBITDA through price improvement alone. And then, what are the chances that you will recover the duties within the next 12 months? We have been encouraged that our go-to-market strategy implemented in 2019 has helped stabilize cellulose specialty prices in 2020. Live Teleconference. Rayonier Advanced Materials Inc. (NYSE:RYAM) plans to release its second quarter 2020 earnings on Tuesday, August 4, 2020 after the market closes. In product markets where we've seen demand weakness, we've been able to flex down our production to appropriate levels. Prepared Remarks: Operator. And just, while I think about it, on the lumber side, you mentioned the two cell lines coming in. 3 analysts expect losses of $0.317 per share as opposed to losses of $0.350 per share in the same quarter of the previous year. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. If you look at what we're expecting, we took substantial downtime in April. So, again, that's why we're messaging backend of this year, possibly early next year to have those rates confirmed, at which time we would then depositing at the lower rate. And we've had some other smaller moves that have helped us free up capacity to pursue opportunities as we move forward in the future on high IV ethers and other areas. And as noted earlier, newsprint remains under pressure and we are constraining our newsprint production to meet demand and minimize losses in this product category. Rayonier Advanced Materials Inc Q3 2020 Earnings Call Nov 5, 2020, 9:30 a.m. So, we have two more outages coming up, Fernandina and Temiscaming in the next two consecutive months. But I'm not talking about Q2, I'm talking about Q3 when the prices are good. That's really shipping delays. Okay. But we've seen tangible benefits this year to date. Key terms of the amendment are laid out on Slide 11. View the latest Rayonier Advanced Materials Inc. (RYAM) stock price, news, historical charts, analyst ratings and financial information from WSJ. Rayonier Advanced Materials (NYSE:RYAM) down 7.3% AH, as the company says Q2 results were impacted by COVID-19 market-related conditions, and expects earni Keep tabs on your portfolio, search for stocks, commodities, or mutual funds with screeners, customizable chart indicators and technical analysis. So, I think, we have a lot of fronts here both internally and externally with the markets, to improve EBITDA going forward. There is nothing else that we had put in place for this year at all. Frank? I mean, could we kind of not flip flop it because of the holiday, but be kind of north of 150 million board feet and the good news is, you're running as the prices have gone up, maybe -- give us -- help us with the sensitivity like some leverage that you have? And that was missing in the past as the products has been kind of slowly ramping into the market and mainly because of oversight supplied market. [Operator Instructions] Our next question comes from the line of Roger Spitz with Bank of America. And then, first of all, yes, you've talked about some HPC High Purity capacity going out of the market and certainly we're prepared for all scenarios, as well. Rayonier Advanced Materials Inc. has reported its third quarter 2020 results, citing income from continuing operations of $29 million or $0.45 per diluted share, compared to a loss from continuing operations of $14 million or $0.29 per diluted share for the same prior-year quarter. The global COVID pandemic has added a whole new level to this complexity and our teams have responded admirably. They are also referenced on Slides 2 and 3 of our presentation material. Mickey Walsh -- Treasurer and Vice President of Investor Relations. At the early signs of the global pandemic in the first quarter, we approached our banking partners proactively to seek more operating room in the face of the significant uncertainty in the global industrial and consumer markets. No, just look at that. On the commercial side, we have started to see commercial benefits of that as we've started to move some of the specialties out of the Temiscaming mill. Let's conquer your financial goals together...faster. And of course, as you've heard in the past, John, we've worked hard and we continue to work hard to stabilize our cellulose specialty business and improve pricing there, which this year, we're going to stabilize it, should be slightly up for the year as we indicated, if not flat. We are confident that we will emerge a stronger, more resilient company. Our ongoing efforts to reduce costs helped offset pressure brought on by the COVID pandemic. I don't see that issue. Paul G. Boynton -- President and Chief Executive Officer. So overall, it has been working well, it it takes some time to move grades around. Rayonier Advanced Materials' (RYAM) CEO Paul Boynton on Q2 2020 Results - Earnings Call Transcript Aug. 5, 2020 at 3:33 p.m. Good morning everyone. Rayonier Advanced Materials Inc. published this content on 06 May 2020 and is solely responsible for the information contained therein. Okay. Yeah, let me ask Marcus to give you a little flavor on that. Yeah, thanks, Paretosh. We've probably taken $1 million loss on it in a quarter. As the leading global supplier of high-purity, cellulose specialties products, Rayonier Advanced Materials builds on more than 90 years of experience to provide our … I appreciate it. Is there anything negative? Obviously, it's one of the constraints. Rayonier Advanced Materials has generated ($2.16) earnings per share over the last year. It's just too early to tell how long some of these assets will be down and the inventory work-throughs and the recovery from the demand side, how that will impact more broadly. Second is, it doesn't impact the competitive landscape because we're not pulling share from other GWP producers. But as you know, it has some correlation to maintenance outages and we just completed Jesup and as Paul mentioned, we've got Fernandina and Temiscaming coming on. On August 4, Rayonier Advanced Materials will be reporting earnings Q2. Event Details. Price declines were significantly offset by improved costs driven by lower wood, chemical and energy input costs as well as improved operational reliability. Q2 2020 Earnings Release 206.6 KB. Rayonier Advanced Materials Inc. published this content on 18 August 2020 and is solely responsible for the information contained therein. ET. We've got very low inventories coming into the quarter. I guess, just last one. That be great. Is there anything notable in the quarter? The following slide deck was published by Rayonier Advanced Materials Inc. in conjunction with their 2020 Q2 earnings call.. Cellulose specialties in forest products volumes were impacted by reduced demand stemming from the pandemic. Might you be able to parse out how much was from lower raw material costs versus the continuous improvement efforts? But I guess what I was interested in was the working capital there wasn't an inflow in the second quarter given all your volumes down. Call Participants. And with that, we're starting to see the volume -- corresponding volume roll into the LignoTech Florida facility. I would tell you that security of supply has become more important in many of our customers' eyes and that we believe that customers should be putting a premium on the ability to have a stable and secure supply source. Turning to our Pulp and Newsprint segment on Slide 9. You mentioned, right, Just restoring commodity markets will improve pricing significantly and therefore EBITDA alone. ET on Seeking Alpha Rayonier Advanced Materials… Rayonier Advanced Materials Inc (NYSE: RYAM) Q2 2019 Earnings Call Aug. 08, 2019, 9:00 a.m. It's more difficult in this COVID environment, but a lot of it moved into receivable. Rayonie April … Let me first provide some highlights for the second quarter as laid out on Page 5. So we've got a couple of new saw lines, Chapleau and Cochrane, so year-over-year, which should pick up those benefits on volume. We are taking the necessary actions to manage through its impact to benefit the economic recovery on the back end. We took those assets to actually down significantly in early in the quarter, taking out maybe up to a third of our volume capacity as a result of the COVID. Yeah. In our Forest Products segment, we are seeing significant market improvement, a robust repair and remodel market has helped fast recovery in the early second quarter and rebounding a housing start levels have allowed us this momentum to continue. Okay. Yeah. Overall, the amendment provides us with the increased covenant headroom and added liquidity needed to manage through uncertain market conditions spurred on by COVID-19 pandemic. So for the most part, no disruptions in HPC at all in our high-purity business or paperboard or high yield pulp. I'll start and I'll let Frank continue. And so that volume, I assume that's, kind of, that 2% in HPC, that was from logistics issues and on that, I mean, will you get that volume back or is that volume that's, I guess, lost for now? Q2 2020 Rayonier Advanced Materials Inc. Earnings Conference Call. August 7, 2019, 4:05 p.m. Rayonier Advanced Materials (RYAM) came out with a quarterly loss of $0.35 per share versus the Zacks Consensus Estimate of a loss of $0.18. 2019-07-25 zacks.com - 1 - Wall Street expects a year-over-year decline in earnings on lower revenues when Rayonier Advanced Materials (RYAM - Free Report) reports results for the quarter ended June 2019. But it continues to grow, right, Steve. Thank you. Are you seeing any incremental new opportunities for cellulose in the packaging side of the business? No. [Operator Instructions]. Thanks guys. But obviously it should be a positive for us, the magnitude is really the question. At this time, all participants are in a listen-only mode. But a significant change in volume in the back-half of the year outside of normal capacity just happen. Given that half our lumber sales come -- some -- come from the United States, this could provide a welcome benefit to earnings. Compared to the first quarter of 2020, EBITDA improved by $5 million, primarily from higher commodity product sales prices and volumes as well as lower costs. Yeah, I mean that's going to be two answers to that. So again, we're focused on that. Thank you. And then on the newsprint you're running it to, I guess your full cap, but what is the running is around like 50% is the range 75%, what's it running? Is there any risk to those mills have to shut because caps not running full? The other half of that really is what we're seeing reduced forecast from our customers as they've seen some demand weakness in their end markets, specifically in the construction and the industrial and automotive sectors. Finally, we expect to receive a significant cash benefit later in the year in the form of a $31 million tax refund, largely attributable to CARES Act that features passed earlier this year. We have reached the end of our question-and-answer session. Okay, so -- OK so right now with La Sarre and Chapleau aren't running three shifts, they're running two shifts?
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