Sylvamo Corp Stock Price, News & Analysis

Sylvamo (NYSE: SLVM) will announce its first quarter earnings on May 9 before market opening. An audio webcast will occur at 10 a.m. EDT, accessible at investors.sylvamo.com. Participants can join via phone by calling +1-877-336-4440 for U.S. or +1-409-207-6984 internationally, using access code 6300968. Replays will be available on their website for one year and by phone for 90 days post-call. Sylvamo operates globally with a focus on producing papers essential for education, communication, and entertainment, generating $3.6 billion in net sales in 2022. Key insights and performance metrics will be anticipated during the earnings announcement.

Sylvamo (NYSE: SLVM) announced early results for its Feb. 22 tender offer for 7% senior notes due 2029. As of March 7, 79.9% of the notes were validly tendered. The company plans to purchase all tendered notes at $1,000 per $1,000 principal amount, including a $30 early tender premium. Total cost for these notes is estimated at $360.1 million, financed by a $300 million term loan. The company is also amending the indenture to remove restrictive covenants. The final tender deadline is March 21, with payments anticipated by March 23.

Sylvamo (NYSE: SLVM) announced that its CEO, Jean-Michel Ribiéras, has been reappointed to the U.S.-Brazil CEO Forum for the term 2023-2026 by Secretary of Commerce Gina Raimondo. Ribiéras, who has been a member since 2021, will collaborate with other business leaders to enhance trade between the U.S. and Brazil. Sylvamo, headquartered in Memphis, Tennessee, operates paper mills in both countries, contributing to the essential paper supply for education and communication. In 2022, Sylvamo reported net sales of $3.6 billion and employs over 6,500 people globally.

Sylvamo (NYSE: SLVM), the world's leading paper company, will participate in the BofA Securities 2023 Global Agriculture and Materials Conference on Thursday, March 2, in Fort Lauderdale, Florida. CEO Jean-Michel Ribiéras and other leaders will discuss the paper and packaging sector during a panel discussion at 2:30 p.m. EST, which will also be streamed online. Interested attendees can register to watch the webcast here. More details about the presentation will be available at investors.sylvamo.com.

Sylvamo Corporation (NYSE: SLVM) has initiated a tender offer to purchase all outstanding 7.000% Senior Notes due 2029. Alongside this, the company is soliciting consents to amend the indenture governing the Notes. The proposed amendments aim to lift restrictive covenants and modify redemption notice requirements. To facilitate this, Sylvamo plans to amend its credit agreement and secure a new senior secured term loan of $300 million. The Tender Offer will close on March 21, 2023, with early tender considerations available until March 7, 2023. This financial maneuver is intended to streamline the company’s debt obligations and enhance flexibility.

Sylvamo (NYSE: SLVM) has declared a quarterly dividend of $0.25 per share for the period from April 1, 2023 to June 30, 2023. This dividend will be paid on April 27, 2023 to shareholders on record as of April 6, 2023. Headquartered in Memphis, Tennessee, Sylvamo is a leading paper company with operations across North America, Europe, and Latin America, generating net sales of $3.6 billion in 2022. The company aims to be the preferred employer and supplier in the industry, focusing on renewable resources to produce essential papers.

Sylvamo (NYSE: SLVM) has reached a cooperation agreement with its largest shareholder, Atlas Holdings, to enhance its board of directors by adding Karl Meyers and Mark Wilde as independent directors, effective March 1. This expansion brings the total number of directors to 11. The company will nominate these new directors for election at the 2023 annual shareholder meeting. Additionally, Sylvamo will terminate its shareholder rights plan. Both appointees bring extensive experience from the paper sector and equity research, positioning the company for potential strategic improvements.

Sylvamo (NYSE: SLVM) reported its fourth quarter 2022 earnings, revealing a net income from continuing operations of $88 million ($1.99 per diluted share), down from $109 million in the previous quarter. Adjusted operating earnings also declined to $87 million ($1.97 per share) compared to $112 million. Despite challenges, the company achieved a full-year net income of $336 million ($7.57 per share) and generated $721 million in adjusted EBITDA. The board initiated a quarterly dividend of $0.1125 per share. Looking ahead, adjusted EBITDA for 2023 is projected between $760 million and $840 million, reflecting positive expectations for cash flow.