RYAM Updates 2022 Adjusted EBITDA Guidance and Reaffirms Commitment to Debt Reduction
Jun 09, 2022 6:55 AM
Company sets full year 2022 Adjusted EBITDA guidance of approximately
Authorized to repay debt up to
Additionally, the Company announced that it repurchased
“With the completion of the planned maintenance outages at all four of our manufacturing facilities by the end of June, along with strong demand for our products, cost surcharge implementation and ongoing efforts to mitigate cost inflation, I am confident with our ability to achieve these results,” said De
Adjusted EBITDA is defined as income (loss) from continuing operations before interest, taxes, depreciation and amortization adjusted for items management believes do not represent core operations. Management believes this measure is useful to evaluate the Company's performance.
Adjusted Net Debt is defined as the amount of debt after the consideration of the original issue discount, premiums, and debt issuance costs, less cash. Adjusted net debt is a non-GAAP measure of debt and is not necessarily indicative of the adjusted net debt that may occur in future periods.
RYAM is a global leader of cellulose-based technologies, including high purity cellulose specialties, a natural polymer commonly found in filters, food, pharmaceuticals and other industrial applications. The Company also manufactures products for paper and packaging markets. With manufacturing operations in the
Certain statements in this document regarding anticipated financial, business, legal or other outcomes including business and market conditions, outlook and other similar statements relating to RYAM’s or future or expected events, developments or financial or operational performance or results, are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are identified by the use of words such as "may," "will," "should," "expect," "estimate," "believe," "intend," "anticipate" and other similar language. However, the absence of these or similar words or expressions does not mean that a statement is not forward-looking. While we believe these forward-looking statements are reasonable when made, forward-looking statements are not guarantees of future performance or events and undue reliance should not be placed on these statements. Although we believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, we can give no assurance these expectations will be attained and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties.
Other important factors that could cause actual results or events to differ materially from those expressed in forward-looking statements that may have been made in this document are described or will be described in our filings with the