Research from Water Tower Research, Water Tower Research

Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

Equity Research Firm

Equity Bottom-Up

Rayonier Advanced Materials / Equity Bottom-Up

<ul><li>1Q25 one-time headwinds obscure improving business fundamentals.</li><li>Unusual weather, plant-level operating challenges ahead of planned maintenance outages, and the impact of customer pre-buying in 4Q25 affected 1Q25 results, but are not likely to continue, suggesting sequential improvement in 2Q25 and more so in 2H25.</li><li>New reporting structure highlights specialty-type margins. </li></ul>

1Q25 one-time headwinds obscure improving business fundamentals.Unusual weather, plant-level operating challenges ahead of planned maintenance outages, and the impact of customer pre-buying in 4Q25 affected 1Q25 results, but are not likely to continue, suggesting sequential improvement in 2Q25 and more so in 2H25.New reporting structure highlights specialty-type margins. 

RYAM US: Specialty Margins Shine Under New Reporting Structure Despite Period Headwinds