Welcome to our dedicated page for Sylvamo news (Ticker: SLVM), a resource for investors and traders seeking the latest updates and insights on Sylvamo stock.
Sylvamo Corporation reports developments for an uncoated papers company with mills in Europe, Latin America and North America. The company produces uncoated freesheet papers for copy and printer use, commercial printing, converting and specialty applications, and also produces market pulp.
Recurring news for SLVM includes quarterly and annual earnings, regional segment conditions, mill operations, strategic investments, product supply and cost pressures tied to energy, chemicals, diesel and ocean freight. Company updates also cover dividend declarations, capital allocation, cash returns to shareowners, investor conference participation, and board or executive leadership changes.
Sylvamo (NYSE: SLVM), the global leader in paper production, will hold individual meetings on December 2 during the Stephens 23rd Annual Investment Conference in Nashville, Tennessee. John Sims, the company's CFO, will present at each meeting. Investors can access the presentation at investors.sylvamo.com prior to the event. Sylvamo operates mills across Europe, Latin America, and North America, employing over 7,000 people and reporting $3.3 billion in net sales for the year ending September 30, 2021.
Sylvamo (NYSE: SLVM) announces that CEO Jean-Michel Ribiéras will join the board of directors for the American Forest and Paper Association (AF&PA) starting January 1, 2022. Ribiéras, with 35 years of experience in the paper industry, emphasizes the importance of AF&PA in advocating for the industry's role in the circular economy. With net sales of $3.3 billion for the year ending September 30, 2021, Sylvamo continues to be a leader in transforming renewable resources into essential paper products, supporting education and communication worldwide.
Sylvamo Corporation (NYSE: SLVM) reported strong performance in its third-quarter 2021 earnings, achieving a net income of $92 million or $2.09 per pro forma share. This marks a decrease from $115 million in the previous quarter. Adjusted EBITDA reached $177 million, up from $124 million in Q2 2021. The company anticipates fourth-quarter adjusted EBITDA between $140 million and $150 million. Input costs rose by $26 million, influenced by increased prices for key materials. The gross debt-to-adjusted EBITDA ratio improved to 2.8x.
Sylvamo (NYSE: SLVM) will announce its third-quarter earnings on November 10, before the New York Stock Exchange opens. An audio webcast is scheduled for 10 a.m. EST. Interested parties can join by calling +1-855-982-8078 or +1-469-886-1931. Sylvamo became independent on October 1, following its spinoff from International Paper (NYSE: IP). Since this transition, net sales have reached $3.2 billion for the 12 months ending June 30. For further updates, visit Sylvamo.com.
Sylvamo (NYSE: SLVM), a spinoff of International Paper (NYSE: IP), has officially become an independent publicly traded company, with celebrations taking place globally. The company, headquartered in Memphis, Tennessee, employs over 7,000 staff across Europe, Latin America, and North America. Celebrations include a ceremonial trade bell ringing at the New York Stock Exchange, paper donations to local schools, and tree planting events. Sylvamo aims to create long-term value through its commitment to sustainability and serves as a steward of forests.
On October 1, 2021, International Paper Company (NYSE:IP) completed the spin-off of its global printing papers business, now known as Sylvamo Corporation (NYSE:SLVM). Shareholders received one share of Sylvamo for every eleven shares of International Paper held. Post-spin-off, International Paper retains approximately 19.9% ownership in Sylvamo. The spin-off is positioned to enhance strategic focus and long-term value for both companies. Sylvamo shares began trading on NYSE under the symbol SLVM, with tax-free treatment for U.S. federal income tax purposes for stockholders.
International Paper Company (NYSE:IP) announced a spin-off and distribution of approximately 80.1% of Sylvamo Corporation (NYSE:SLVM) shares, effective October 1, 2021. Shareholders of record by September 15, 2021, will receive one share of Sylvamo for every eleven shares of International Paper held. No fractional shares will be issued; instead, fractions will be sold with proceeds distributed in cash. Sylvamo shares began trading on a 'when-issued' basis on September 14, 2021. The spin-off is subject to conditions and may be canceled if deemed unbeneficial.