Rayonier Advanced Materials Inc., or RYAM, has reported losses from continuing operations for five straight years, but a second-quarter profit put the company in the black for the first six months of 2024.
The cellulose specialties product company reported earnings from continuing operations of $8.2 million in the quarter. That left it with a net profit of $6.6 million in the first half of the year.
In an Aug. 7 conference call, CEO De Lyle Bloomquist said Jacksonville-based RYAM’s results were helped by deferred coronavirus-related benefits under the Canada Emergency Wage Subsidy for its plant in Quebec, Canada.