Rayonier Advanced Materials reports Q1 adjusted EPS (49c), consensus (10c)

Reports Q1 revenue $356M, consensus $385M. Reports Q1 adjusted EBITDA was $1M, inclusive of a $12M non-cash environmental charge. De Lyle Bloomquist, president and CEO of RYAM stated its first quarter results “fell short of expectations, primarily due to several factors: a $12 million non-cash environmental charge, lower cellulose specialties sales volumes following accelerated customer purchases in the prior quarter ahead of a potential supply chain disruption, higher key input costs and operational challenges.”