Rayonier Advanced Materials Prelim Q4, FY22 Sales Rise

(RTTNews) - Rayonier Advanced Materials Inc. (RYAM), a chemical firm, on Tuesday announced preliminary results for the fourth-quarter and fiscal 2022, reporting a rise in sales for both periods.

For the final quarter, the company estimates to report income from continuing operations of -$1 million to $3 million, compared with a loss of $28 million, posted for the same period of 2021.

Rayonier projects its fourth-quarter revenue to be in the range of $488 million to $508 million, higher than last year's $374 million.

For the full-year, RYAM expects loss from continuing operations of $28 million to $32 million, versus a loss of $50 million in 2021.

For 2022, the chemical producer projects to report revenue of $1.705 billion to $1.725 billion, higher than $1.408 billion of previous year.