Rayonier Advanced Materials reported a net loss of $21 million for the fourth quarter of 2025, reflecting a challenging year marked by weaker demand and operational disruptions across several of its business segments.
For the quarter ended December 31, 2025, the Jacksonville-based company recorded net sales of $417 million, slightly below the $422 million reported in the same period a year earlier. Adjusted EBITDA from continuing operations totaled $46 million, also down $5 million compared with the fourth quarter of 2024.
For the full year, RYAM generated $1.5 billion in revenue and $133 million in adjusted EBITDA, while adjusted free cash flow remained negative at $88 million. Total debt stood at $779 million at year-end, with a net secured leverage ratio of 3.9 times covenant EBITDA.
According to President and CEO Scott Sutton, the company is focusing on improving cash generation and operational discipline in 2026. Management plans to tighten working capital, address fixed costs and reduce capital expenditures compared with 2025, prioritizing maintenance and projects with the highest returns.
During the quarter, Cellulose Specialties, RYAM’s largest business, recorded higher average selling prices following negotiated increases and improved product mix. However, sales volumes declined as some customers adjusted inventory levels.
The company also reported growth in its Biomaterials segment, supported by stronger sales of lignosulfonates and bioethanol as a new bioethanol facility ramped up production.
Market conditions remained more difficult in other areas. Paperboard sales declined sharply, reflecting lower volumes and pricing pressure linked to new capacity in the U.S. market. Demand for high-yield pulp also weakened, particularly in China, where oversupply and softer consumption continued to affect prices.
Looking ahead, RYAM said its priority is to restore positive free cash flow while reinforcing its leadership in cellulose specialties and improving earnings across its businesses.
Rayonier Advanced Materials is a global producer of cellulose specialties and other high-value cellulose-based materials used in filters, food ingredients, pharmaceuticals and industrial applications. The company also produces viscose pulp, fluff pulp, high-yield pulp, paperboard and bio-based products such as biofuels and lignin derivatives. RYAM operates manufacturing facilities in the United States, Canada and France.
Source: RYAM
