Rayonier Advanced Materials Inc. (RYAM) reported Adjusted EBITDA from continuing operations of $46 million for the quarter ended December 31, 2025, a 10% decrease from $51 million in the same period last year, due to a difficult demand environment that pressured volumes.

The net loss from continuing operations was $21 million, or $0.32 per diluted share, compared to a net loss of $16 million, or $0.25 per diluted share, in the Q4 2024. Net sales for Q4 2025 decreased by 1% to $417 million.

The company's full-year 2025 revenue was $1.5 billion, with Adjusted EBITDA of $133 million and negative Adjusted Free Cash Flow of $88 million. Management stated this performance was not satisfactory and cannot be repeated.

Corporate operating loss improved by 6% compared to the prior year quarter, primarily driven by lower variable compensation costs, partially offset by unfavorable foreign exchange rates and higher environmental remediation expense.

The company ended the fourth quarter with $157 million of global liquidity, including $75 million of cash. The consolidated net secured leverage ratio was 3.9 times covenant EBITDA as of December 31, 2025.

In 2026, the company's focus is on delivering positive free cash flow and driving year-over-year EBITDA improvement across every business. In Cellulose Specialties, the company is taking value-based pricing actions, which will pressure volumes early in the year as customers adjust ordering and inventory positions. The company is also tightening working capital, addressing its fixed cost structure, and reducing capital expenditures relative to 2025 to rebuild a healthier operating base and position for stronger performance in 2027 and beyond.

RYAM is a global leader of cellulose and derivatives commonly used in the production of filters, food, pharmaceuticals, high performance plastics, propellants and various industrial applications.