rayonier advanced materials inc reported thirdquarter results tuesday the company says demand for cellulose specialties and commodity products remains strong and somewhat tempered as global economic growth slows ceo says global economy appears to be slowing the quarters improved financial results are evidence of the significant earnings power of ryam increased productivity in the third quarter led to higher sales volumes in highpurity cellulose and stronger financial results said de lyle w bloomquist president and chief executive though the global economy appears to be slowing we remain optimistic about capturing additional productivity gains and value for our key products as such we are confident about our business and have increased our fullyear adjusted ebitda guidance to exceed 175 million for 2022 we also continue to reduce debt including net repayments of 59 million year to date as our credit metrics continue to improve we are actively monitoring debt markets for an opportune time to refinance our 2024 debt maturities the company updated its adjusted ebitda guidance to exceed 175 million for 2022 subject to ongoing supply chain constraints it remains on track to reduce its net debt level to 725 million by the end of the year demand for cellulose specialties and commodity products remains strong albeit somewhat tempered as global economic growth slows as such average sales prices are expected to be down modestly in the fourth quarter driven by a greater mix of commodity sales volumes as production and logistics constraints improve paperboard prices seen still elevated in 4q paperboard prices are expected to remain elevated in the fourth quarter driven by strong demand in both the commercial printing and packaging enduse markets sales volumes and raw material costs are expected to remain steady highyield pulp markets appear to be peaking as global economic demand slows however due to the sales lag experienced in this segment realized prices are still expected to increase in the fourth quarter sales volumes are anticipated to increase significantly as production and logistics constraints improve