Rayonier Advanced Materials Reported Huge Loss in 2019

SEATTLE (Scrap Monster): Rayonier Advanced Materials reported results for fourth quarter and full year 2019. The company reported losses, mainly due to weak commodity pricing.

According to the company, it reported loss from continuing operations of $119 million for the year ended December 31, 2019. This compares with income from continuing operations of $99 million in 2018. The Q4 ’19 loss from continuing operations was $57 million, as compared with income from continuing operations of $7 million in the corresponding quarterly period in 2018.

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The adjusted loss for 2019 was $110 million, compared to adjusted income of $82 million in 2018. Meantime, the adjusted loss for Q4 2019 was $49 million, upon comparison with adjusted income of $7 million in Q4 2018.

Paul Boynton, Chairman, President and Chief Executive Officer commented that 2019 was a difficult year for the company, primarily on account of impacts from global trade disputes and sharp decline in commodity prices. The company will resort to additional cost and cash actions in 2020, so as to position the company navigate through difficult times and ultimately drive long-term success.