Rayonier Advanced Materials Announces Positive Third Quarter Results On Higher Lumber Prices And Lower Costs
Third Quarter 2020 Highlights: *Third quarter income from continuing operations was $29 million, $43 million better than comparable quarter in 2019 *Third quarter Adjusted EBITDA of $55 million, up $19 million from comparable quarter in 2019 primarily driven by higher lumber prices, improved reliability in High Purity Cellulose operations and lower costs *Generated $34 million of Free Cash Flow through the third quarter driven by reduced capital expenditures and improved working capital *Improved liquidity of $196 million, excluding a $33 million cash tax refund expected in fourth quarter plus an additional $22 million expected over the next twelve months