According to the report, total printing-writing paper shipments increased 11 percent in May compared to May 2020. U.S. purchases of total printing-writing papers increased six percent in May compared to the same month last year. Total printing-writing paper inventory levels remained essentially flat (+0.3 percent) when compared to April 2021. Uncoated free sheet (UFS) paper shipments increased 22 percent compared to May 2020 while the inventory level increased two percent compared to April 2021. UFS imports and exports both increased compared to April 2020, up 10 percent and 25 percent respectively. U.S. purchases of coated free sheet (CFS) papers in May decreased 16 percent compared to last May while the inventory level decreased one percent compared to April 2021. CFS imports decreased 14 percent while exports increased 32 percent in April 2021. Coated mechanical (CM) paper shipments decreased 14 percent compared to May 2020 while the inventory level increased one percent compared to April 2021. CM imports decreased 17 percent while exports increased five percent in April 2021. U.S. purchases of uncoated mechanical (UM) papers in May increased 16 percent compared to last May while the inventory level decreased 15 percent compared to April 2021. UM imports increased 10 percent while exports decreased 17 percent in April 2021.
Rayonier Advanced Materials Inc. (the “Company”) today announced preliminary second quarter results which were impacted by COVID-19 market-related conditions. The Company expects earnings and Adjusted EBITDA for the quarter to be slightly below prior year, driven by an approximately 12 percent decline in revenues. Compared to the prior year period, results for the second quarter were aided by improvements in Forest Products and Paperboard segments driven by increased prices for lumber and lower raw material costs for paperboard, respectively. These benefits were offset by COVID-related impact on: 1) global demand for High Yield Pulp and Newsprint; 2) sales volumes in High Purity Cellulose due to softer demand in textile, automotive and construction end markets; and 3) logistics delays impacting High Purity Cellulose volumes. Corporate costs increased modestly from prior year, primarily due to an increase in non-cash charges. With a focus on working capital and capital expenditures, liquidity improved $19 million in the quarter to $164 million, including $49 million of cash.
The Company will provide additional details in its detailed earnings release and Form 10-Q, which are expected to be finalized in August.