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Rayonier Advanced Materials Inc Down 17.28% To $3.59 After Earnings Miss

Wednesday, February 28, 2024 09:58 AM | InvestorsObserver Analysts

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Rayonier Advanced Materials Inc Down 17.28% To $3.59 After Earnings Miss

Rayonier Advanced Materials Inc (RYAM) missed earnings projections on 2/27/2024 for Q4 2023.

Rayonier Advanced Materials Inc's earnings came in at an EPS loss of $0.22 per share, 214% lower than estimates for an EPS loss of $0.07 per share. The firm's earnings are down 650% since reporting $0.04 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Analyst projections for Rayonier Advanced Materials Inc revenue came in at a consensus of $410.3 million. Fourth-Quarter revenues surpassed estimates for $422 million by $11.7 million (3%). The company achieved negative 16% growth year-over-year compared to the firm's revenue of $500 million from the year-ago quarter. The lower earnings growth relative to revenue signals Rayonier Advanced Materials Inc has not been able to improve its profit margin.

The stock is down 17.28% to $3.59 after the report.

Rayonier Advanced Materials Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Rayonier Advanced Materials Inc has performed a little below average during the past few months. Before the report, Rayonier Advanced Materials Inc received a Long-Term Technical Rank by InvestorsObserver of 36, putting it in the bottom half of stocks. The firm set a 52-week low on November 1, 2023 at $2.66 and set a 52-week high on March 1, 2023 at $8.65.

Rayonier Advanced Materials Inc manufactures high-purity cellulose derived from wood. Also known as cellulose specialties, the company's products are used in a variety of applications, including cigarette filters, liquid crystal displays, paints, pharmaceuticals, and food. The company operates in the reportable segments of High Purity Cellulose, Paperboard, High-Yield Pulp, and Corporate and Other. The key revenue is derived from the High Purity Cellulose segment. Geographically, it derives a majority of revenue from the United States.

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