RYAM 8-K SEC Filing Analysis

Latest settled — T+20d ⚠ clustered

RYAM ▼ -11.71% at T+20d

SHORT call ✓ call won +11.71% · α vs SPY +14.49% · entry $9.82 → $8.67

Next anchor: T+60d in 6w

Last close $8.56 (close Jun 12) · +12.83% from $9.82 entry (call sign-flipped)

Entry anchored
May 5, 2026
via day open

T+1d

-6.82%

call +6.82% · α +6.49%

$9.15

settled 6w ago

T+5d

-4.48%

call +4.48% · α +5.61%

$9.38

settled 5w ago

T+20d

-11.71%

call +11.71% · α +14.49%

$8.67

settled 12d ago

T+60d

—

call — · α —

—

in 6w

Price Chart

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Executive Summary

RYAM reported Q1 2026 GAAP EPS of -$1.22, far below the $-0.62 consensus (a ~97% miss), as $41M in non-cash permanent idling charges and a 9.6% YoY revenue decline to $319M drove a net loss of $81M vs a $32M loss a year ago. Adjusted EBITDA fell to $8M from $17M. Despite maintaining qualitative guidance for EBITDA growth and positive free cash flow in 2026, the weak quarter and elevated leverage (4.3x) underscore operational and financial stress.

Key Financial Metrics

Free Cash Flow

$12.0M

Gross Margin

-2.5%

Actionable Insight

The massive EPS miss and revenue decline confirm deteriorating fundamentals beyond the one-time idling charge. The strategic review (announced in the release) may provide a floor for the stock, but near-term catalysts are weak. Monitor the May 6 conference call for commentary on the strategic review progress and any further guidance adjustment.

Key Facts

GAAP EPS: -$1.22 vs consensus -$0.62 (miss of $0.60)
Net loss: $81M vs $32M in Q1 2025
Revenue: $319M, down 9.6% YoY from $353M
Adjusted EBITDA: $8M vs $17M in prior year
Includes $41M non-cash permanent idling charges for Temiscaming HPC plant
Net secured leverage ratio: 4.3x covenant EBITDA
Total liquidity: $160M (cash $68M + ABL capacity $88M)

Financial Impact

EPS miss of $0.60 (96.8% below consensus); revenue miss of ~$16M below prior year quarter

epsrevenueebitdanet income

Risk Factors

Elevated net secured leverage of 4.3x increases financial risk
Continued weak demand in cellulose specialties and paperboard segments
Potential for further asset impairments or covenant issues if EBITDA does not improve

Market Snapshot

Exchange

NYSE

Sector

Pulp Mills

Analyst Consensus

86% bullish (7 analysts)

Documents Analyzed

This report is based on 5 SEC documents filed with EDGAR.

Document	Accession Number
8-K Filing (Primary)	0001597672-26-000013
Document: 0001597672-26-000013-index-headers.html	0001597672-26-000013
Document: 0001597672-26-000013-index.html	0001597672-26-000013
Document: 0001597672-26-000013.txt	0001597672-26-000013
8-K Data (Synthetic)	0001597672-26-000013

4 reports for RYAM

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for RYAM — sortable, filterable
	Type				Now
May 5, 2026 5w ago	8-K BEARISH ★ 7/10	$9.82 $8.67	▲ +11.71%	▲ +14.49%	$8.56 (+12.83%)
Apr 24, 2026 7w ago	DEFA14A BEARISH ★ 6/10	$9.75 $8.91	▲ +8.62%	▲ +13.57%	$8.56 (+12.21%)
Apr 24, 2026 7w ago	8-K BEARISH ★ 6/10	$9.75 $8.91	▲ +8.62%	▲ +13.57%	$8.56 (+12.21%)
Mar 30, 2026 10w ago	DEFA14A NEUTRAL ★ 3/10	$11.07 $9.51	▼ −14.09%	▼ −23.51%	$8.56 (−22.67%)

US Market Status

Market Closed — Opens in 4h 23m

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