Edition:
India

Rayonier Advanced Materials Reports Second Quarter 2019 Results


Thursday, 8 Aug 2019 

Aug 7 (Reuters) - Rayonier Advanced Materials Inc ::QTRLY NET SALES $488 MILLION VERSUS $542 MILLION .RAYONIER ADVANCED MATERIALS REPORTS SECOND QUARTER 2019 RESULTS.Q2 LOSS PER SHARE $0.37.Q2 EARNINGS PER SHARE ESTIMATE $-0.15 -- REFINITIV IBES DATA.Q2 REVENUE VIEW $489.3 MILLION -- REFINITIV IBES DATA.FOR 2019, CONTINUES TO EXPECT STABLE CELLULOSE SPECIALTIES PRICES TO BE LOWER BY APPROXIMATELY 1 TO 2 PERCENT.FOR FULL YEAR 2019 CELLULOSE SPECIALTIES VOLUMES ARE EXPECTED TO BE DOWN 4 TO 5 PERCENT.FOR FULL YEAR 2019 COMMODITY PRODUCT SALES PRICES ARE EXPECTED TO BE SIGNIFICANTLY LOWER IN SECOND HALF OF YEAR.WOOD COSTS ARE EXPECTED TO FURTHER DECLINE THROUGH REMAINDER OF YEAR.WILL NOT MEET 3 TIMES FIRST LIEN SECURED NET LEVERAGE TEST AS CURRENTLY REQUIRED UNDER CREDIT FACILITIES AT Q3 END.ABILITY TO CONTINUE AS A GOING CONCERN IS DEPENDENT ON ABILITY TO OBTAIN AMENDMENT OR REFINANCE CREDIT FACILITIES. 

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