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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) announces key leadership changes in its European operations. Oliver Taudien, senior vice president and general manager, Europe, is departing after serving since the company's 2021 spinoff from International Paper. During his 27-year career, Taudien held various leadership positions in finance, strategy, IT, and general management.
Shawn Lawson will succeed Taudien as senior vice president and general manager, Europe, effective May 1. Lawson joins from International Paper, bringing 20 years of experience, most recently as vice president and general manager of European Packaging. Based in Madrid, Spain, she will contribute to Sylvamo's vision of being the employer, supplier, and investment of choice across Europe and globally.
Sylvamo (NYSE: SLVM), the world's paper company, has announced its participation in the BofA Securities 2025 Global Agriculture and Materials Conference in Fort Lauderdale, Florida. John Sims, senior vice president and chief financial officer, will take part in two key events on Wednesday, February 26:
1. A Capital Allocation Panel discussion starting at 8:15 a.m. EST
2. A Fireside Chat beginning at 2:45 p.m. EST
Both events will be streamed online with registration available through provided links. Sims will deliver a brief presentation during the fireside chat, with presentation materials to be made available on investors.sylvamo.com prior to the conference.
Sylvamo (NYSE: SLVM) has announced a significant $145 million investment in its South Carolina facilities. The company will invest approximately $100 million to upgrade a paper machine at its Eastover mill, enabling production of 60,000 additional short tons of uncoated freesheet annually by the end of 2026.
Additionally, about $45 million will be allocated to install a new replacement sheeter at the Sumter sheeting plant, which will be operational by late 2026. This state-of-the-art equipment will reduce costs and improve customer service flexibility.
The company is also entering a 20-year partnership to outsource its Eastover woodyard operations, which will lead to more efficient wood processing and help avoid approximately $75 million in capital spending over the next five years.
Sylvamo (NYSE: SLVM) reported strong financial results for 2024, with net income reaching $302 million ($7.18 per diluted share), up from $253 million in 2023. The company achieved a 21% increase in earnings per share and a 14% rise in adjusted operating earnings per share.
Key financial metrics include Adjusted EBITDA of $632 million (17% margin) and free cash flow of $248 million. The company maintained strong shareholder returns, paying $62 million in dividends and repurchasing $68 million in common stock. Debt reduction of $154 million brought net debt to $591 million.
The company announced significant investments, including $145 million in high-return capital projects at its Eastover, South Carolina mill, expected to increase adjusted EBITDA by more than $50 million annually once completed. Project Horizon exceeded its cost reduction target, achieving $144 million in run rate savings versus the $110 million goal.
Sylvamo (NYSE: SLVM), known as the world's paper company, will release its fourth quarter earnings on Wednesday, Feb. 12, before the start of trading on the New York Stock Exchange.
The company will host an audio webcast at 10 a.m. EST / 9 a.m. CST. Interested parties can listen at investors.sylvamo.com. To participate, call 800-715-9871 (U.S.) or +1-646-307-1963 (international) using access code 2859530. Participants should call in no later than 9:45 a.m. EST / 8:45 a.m. CST.
Replays are available at investors.sylvamo.com for one year and by phone for one week. To listen by phone, call 800-770-2030 (U.S.) or +1-609-800-9909 (international) with access code 2859530.
Sylvamo (NYSE: SLVM) has announced its board of directors has declared a quarterly dividend of $0.45 per share for Q1 2025. The dividend covers the period from January 1, 2025, to March 31, 2025. Shareholders of record as of January 6, 2025, will receive the payment on January 24, 2025.
Sylvamo (NYSE: SLVM) has regained access to $60 million previously held in escrow for disputed goodwill tax deductions in Brazil, following a favorable court ruling. The company plans to use these funds for debt reduction. The ruling, which covers two-thirds of the disputed amount, remains subject to appeal. Sylvamo aims to pay down $120 million in debt during Q4, which would represent a 47% reduction in gross debt since its 2021 spinoff. The escrow elimination removes previous restrictions that the company to $90 million in annual cash returns to shareholders.
Sylvamo (NYSE: SLVM) announced that John Sims, senior vice president and chief financial officer, will participate in Citi's 2024 Basic Materials Conference in New York. The event includes a fireside chat scheduled for 2 p.m. EST on Tuesday, Dec. 3, which will be available via webcast. Sims will also host individual meetings during the conference from Dec. 3-4. The presentation materials will be accessible on investors.sylvamo.com prior to the conference.
Sylvamo (NYSE: SLVM) reported strong third quarter 2024 results with net income of $95 million ($2.27 per share), up from $83 million in Q2. The company achieved Adjusted EBITDA of $193 million (20% margin) and free cash flow of $119 million. Volume improved by $10 million due to higher North American shipments. The company expects Q4 Adjusted EBITDA between $150-165 million, with projected price and mix decreases of $20-25 million. Sylvamo continues its Project Horizon cost reduction program, targeting to exceed $110 million in savings by end of 2024, and has repurchased $30 million in shares with $120 million remaining in authorization.
Sylvamo (NYSE: SLVM) and International Paper (NYSE: IP) have agreed to mutually terminate their supply agreement for uncoated freesheet, bristols and specialty papers at the Georgetown, South Carolina mill, effective December 31, 2024. Sylvamo is transitioning paper grades from Georgetown to its Ticonderoga, New York, and Eastover, South Carolina mills to maintain customer supply. The company aims to retain the most profitable products from Georgetown while reducing economic downtime in its mill system and improving product mix.