Rayonier Advanced Materials estimates impact from Hurricane Irma
Rayonier Advanced Materials announced that operations at its Fernandina Beach, Fla. and Jesup, Ga. facilities are back running at full capacity after an orderly shutdown of operations due to Hurricane Irma. Due to the production interruption and the costs to restart operations, the company expects a $6M impact to Net Income and a $9M impact to pro forma EBITDA. Additionally, the company expects a $1M impact to net income and a $3M impact to pro forma EBITDA from reduced sales volumes as a result of shipment delays. As a result, the company now forecasts full year net income of approximately $31M and pro forma EBITDA at or slightly below the bottom end of our original $190M-$200M guidance.