Rayonier Advanced Materials reported second-quarter net sales of $376 million, up 18% from the first quarter and 11% higher than a year earlier, with its loss from continuing operations narrowing to $33 million from $81 million three months prior. Within the High Purity Cellulose segment, Cellulose Specialties pricing rose 21% year over year and 8% sequentially on newly negotiated 2026 supply agreements, lifting segment operating income 45% to $29 million and adjusted EBITDA from continuing operations to $40 million from $8 million in the first quarter. That pricing gain came at a cost: Cellulose Specialties sales volume fell 23% year over year, while cellulose commodities volume jumped 94% even as average pricing there fell 11%. The Paperboard & High Yield Pulp segment's operating loss widened 286% year over year, hit by a $13 million non-cash impairment on high yield pulp assets, a planned maintenance outage, and price declines of 9% in paperboard and 4% in high yield pulp. New CEO Daniel Krawczyk said the strategic review will conclude in the fourth quarter of 2026, as the company ended the quarter with a consolidated net secured leverage ratio of 4.2 times covenant EBITDA and $145 million of total liquidity, only $57 million of it cash.
Rayonier Advanced MaterialsCellulose Specialties pricing rose 21% on new 2026 supply agreements, but volume fell 23% and Paperboard/High Yield Pulp losses widened on impairments and price declines.
China Nonferrous Mining Corp Ltd