v3.26.1
Segments
 6 Months Ended
Jun. 27, 2026
Segment Reporting [Abstract]  
Segments
16. Segments
As mentioned in Note 1—Nature of Operations and Basis of Presentation, beginning in the first quarter of 2026, the Company reorganized its segment structure and now operates in two segments:
•High Purity Cellulose: composed of the former segments of Cellulose Specialties, Cellulose Commodities and Biomaterials
•Paperboard & High Yield Pulp: composed of the former segments of Paperboard and High Yield Pulp
Corporate & Other consists primarily of senior management, accounting, information systems, human resources, treasury, tax and legal administrative functions that provide support services to the operating business units.
Prior period segment results have been recast to align with this new segment reporting structure.
The Company’s segment structure is determined based primarily on how its CODM reviews and evaluates Company operations. Historically, RYAM’s CODM has been its CEO. In January 2026, a new CEO was appointed and an analysis was performed to determine whether a change in CODM and/or reportable segments had occurred. The analysis identified the Company’s new CEO as the CODM and determined the two reportable segments listed above to be the level at which the CEO assesses performance and makes decisions regarding resource allocation. In April 2026, the new CEO resigned and an interim Office of the CEO was established that was composed of four existing RYAM executives. A new analysis determined that (i) the Office of the CEO was the new CODM and (ii) there was no change in the approach to evaluating the business and therefore no change in reportable segments from those listed above for the second quarter. The appointment of a new, permanent CEO in the last week of June will necessitate a third quarter analysis to determine the new CODM and whether a change in reportable segments is warranted.
The significant integration of the Company’s operations forms the basis of the CODM’s method of performance evaluation and resource allocation. At the Company’s HPC plants — Jesup, Fernandina and Tartas — fixed costs support the production and sale of all products across the specialties, commodities and biomaterials markets that the Company serves. Additionally, bioethanol production in France is dependent on feedstock from the Tartas HPC plant. Likewise, the Company’s PBD and HYP operations at Temiscaming are highly interconnected, with HYP being used as feedstock for PBD production and extensive shared site costs supporting the production of all products at the site. Given the integrated nature of these operations, the CODM assesses performance and allocates resources to maximize the profitability of the combined business units according to the optimal product mix of any given period.
The CODM uses “operating income (loss)” as a measure of segment profitability, predominantly within the monthly budgeting and forecasting process, where it reviews forecast and budget-to-actual variances to assess performance and inform its decisions on capital allocation within the Company.
Net sales by product line, by segment, were as follows:
Three Months EndedSix Months Ended
June 27, 2026June 28, 2025June 27, 2026June 28, 2025
High Purity Cellulose
Cellulose Specialties$188,508 $200,126 $336,580 $394,678 
Cellulose Commodities100,980 58,484 203,191 131,326 
Biomaterials and other11,974 13,350 24,592 27,978 
Total High Purity Cellulose301,462 271,960 564,363 553,982 
Paperboard & High Yield Pulp
Paperboard48,381 46,451 90,107 95,644 
High Yield Pulp26,283 21,568 40,650 46,260 
Total Paperboard & High Yield Pulp74,664 68,019 130,757 141,904 
Corporate & Other16 69 87 129 
Net sales$376,142 $340,048 $695,207 $696,015 
Significant segment expenses included the following:
Three Months Ended June 27, 2026
Three Months Ended June 28, 2025
High Purity CellulosePaperboard & High Yield PulpTotalHigh Purity CellulosePaperboard & High Yield PulpTotal
Segment net sales$301,462 $74,664 $376,126 $271,960 $68,019 $339,979 
Corporate & Other net sales16 69 
Total consolidated net sales$376,142 $340,048 
Cost of sales
Key input costs (wood, chemicals, energy)228,436 31,061 109,219 32,539 
Fixed and other costs of sales(a)
38,474 55,506 135,300 39,527 
Total segment cost of sales266,910 86,567 $353,477 244,519 72,066 $316,585 
Selling, general and administrative expense6,756 2,183 6,009 3,354 
Asset impairment— 13,037 — — 
Suspension charges827 — 229 — 
Other segment items(b)
(2,322)— 1,380 9 
Segment operating income (loss)$29,291 $(27,123)2,168 $19,823 $(7,410)12,413 
Reconciliation of Segment Operating Income (Loss) to Consolidated Loss from Continuing Operations before Income Tax
Corporate & Other operating loss(8,511)(13,752)
Interest expense(24,714)(23,694)
Components of pension and OPEB, excluding service costs1,122 673 
Other expense, net(137)(1,800)
Loss from continuing operations before income tax$(30,072)$(26,160)
Other segment items
Depreciation and amortization$27,395 $3,606 $31,001 $24,730 $5,928 $30,658 
Corporate & Other depreciation and amortization996 529 
Total consolidated depreciation and amortization$31,997 $31,187 
Six Months Ended June 27, 2026
Six Months Ended June 28, 2025
High Purity CellulosePaperboard & High Yield PulpTotalHigh Purity CellulosePaperboard & High Yield PulpTotal
Segment net sales$564,363 $130,757 $695,120 $553,982 $141,904 $695,886 
Corporate & Other net sales87 129 
Total consolidated net sales$695,207 $696,015 
Cost of sales
Key input costs (wood, chemicals, energy)226,673 61,985 227,727 71,564 
Fixed and other costs of sales(a)
302,500 88,872 269,738 79,221 
Total segment cost of sales529,173 150,857 $680,030 497,465 150,785 $648,250 
Selling, general and administrative expense12,827 4,167 13,770 6,844 
Temiscaming HPC permanent idling charges40,883 — — — 
Asset impairment— 13,037 — — 
Suspension charges955 — 634 — 
Other segment items(b)
(5,583)18 1,995 480 
Segment operating income (loss)$(13,892)$(37,322)(51,214)$40,118 $(16,205)23,913 
Reconciliation of Segment Operating Income (Loss) to Consolidated Loss from Continuing Operations before Income Tax
Corporate & Other operating loss(20,444)(40,345)
Interest expense(47,828)(47,297)
Components of pension and OPEB, excluding service costs2,155 1,305 
Other expense, net(1,089)(908)
Loss from continuing operations before income tax$(118,420)$(63,332)
Other segment items
Depreciation and amortization$55,495 $7,553 $63,048 $49,813 $11,755 $61,568 
Temiscaming HPC permanent idling charges - accelerated depreciation34,494 — 34,494 — — — 
Segment depreciation and amortization$89,989 $7,553 97,542 $49,813 $11,755 61,568 
Corporate & Other depreciation and amortization2,402 870 
Total consolidated depreciation and amortization$99,944 $62,438 
(a)Primarily includes salaries, wages and benefits, depreciation and amortization, logistics costs and maintenance costs.
(b)Primarily includes foreign exchange gain (loss), environmental remediation expense, gain (loss) on disposal of property, plant and equipment and income (loss) from equity method investments.
Identifiable assets by segment include the Company’s current assets and were as follows:
June 27, 2026December 31, 2025
High Purity Cellulose$395,656 $446,521 
Paperboard & High Yield Pulp101,927 101,787 
Corporate & Other12,839 20,075 
Total assets$510,422 $568,383