Sylvamo Corp Stock Price, News & Analysis

Sylvamo (NYSE: SLVM), a leading paper company, announced the acquisition of Stora Enso's uncoated freesheet paper mill located in Nymolla, Sweden. The deal is valued at 150 million euros (approximately $160 million), with final adjustments based on net working capital and net debt. This strategic acquisition aims to enhance Sylvamo's market presence and operational capabilities in Europe. The company is headquartered in Memphis, Tennessee, and employs over 6,000 staff globally, with net sales reaching $2.8 billion in 2021.

Sylvamo (NYSE: SLVM) reported strong third quarter 2022 results, with net income from continuing operations of $109 million ($2.44 per diluted share), up from $84 million in the previous quarter. Adjusted operating earnings rose to $112 million, along with a free cash flow increase to $114 million. The board declared a quarterly dividend of $0.25 per share, payable on January 25, 2023. Key milestones included the sale of Russian operations for $420 million and achieving reduced gross debt below $1 billion. Adjusted EBITDA margins improved, with significant operational efficiencies noted across regions.

Sylvamo (NYSE: SLVM) has announced a $3 million expansion in its partnership with the World Wildlife Fund (WWF) to boost forest conservation efforts. This initiative aligns with Sylvamo's environmental, social, and governance (ESG) strategy and 2030 goals aimed at promoting healthy forests. The collaboration includes sustainable sourcing and restoration projects in Europe, North America, and the Atlantic Forest in Brazil. Sylvamo's chief sustainability officer highlighted the commitment to natural climate solutions, emphasizing the importance of responsible wood fiber sourcing.

Sylvamo (NYSE: SLVM) is set to disclose its third quarter earnings on November 10, before the opening of the New York Stock Exchange. An audio webcast is scheduled for 11 a.m. EST, and interested parties can join via investors.sylvamo.com. The company aims to highlight its performance in the paper industry, with a net sales figure of $2.8 billion reported in 2021. This event is crucial for investors monitoring the company's financial health and market position.

Sylvamo (NYSE: SLVM) has officially sold its Russian operations to Pulp Invest Limited Liability Company for $420 million, receiving approximately $390 million after fees. The decision aligns with the company's principle-based strategy to exit Russia, aiming to secure the future of its Russian team and assets. Of the proceeds, $325 million will be directed towards debt repayment. This move follows their announcement in May to divest from Russia, with Pulp Invest financing the purchase through bank loans.

Sylvamo (NYSE: SLVM) declared a quarterly dividend of $0.1125 per share for the period from October 1, 2022 to December 31, 2022. This dividend is payable on October 17, 2022 to shareholders on record by the close of business on October 3, 2022. The company reported net sales of $3.5 billion for 2021 and employs over 7,500 colleagues across its mills in Europe, Latin America, and North America.

Sylvamo (NYSE: SLVM) has announced its acquisition of Stora Enso's uncoated freesheet paper mill in Nymolla, Sweden, for 150 million euros (approx. $150 million). This acquisition is expected to enhance Sylvamo's product mix and support its operational goals. The mill produces approximately 500,000 short tons of uncoated freesheet annually and generated 350 million euros in revenue over the last 12 months. The deal, which is subject to regulatory approval, is anticipated to close by Q1 2023.

Sylvamo (NYSE: SLVM) reported a strong second quarter of 2022 with net income of $84 million ($1.89 per diluted share), up from $55 million ($1.25) in Q1. Adjusted EBITDA rose to $189 million (20.7% margin), exceeding guidance. The company raised its full-year adjusted EBITDA forecast to $740-$780 million, and free cash flow expectations to $170-$190 million. Sylvamo is committed to reducing debt, with $48 million repaid, achieving a 2.2x gross debt-to-adjusted EBITDA ratio. The Russian operations are now classified as discontinued. A quarterly dividend of $0.1125 was paid in July.

Sylvamo (NYSE: SLVM) is set to release its second-quarter earnings on August 11, before market opening.

The company will hold an audio webcast at 10 a.m. EDT for stakeholders to follow the earnings report. Interested participants can join by calling the provided numbers.

With operations in Europe, Latin America, and North America, Sylvamo generated $3.5 billion in net sales in 2021, employing over 7,500 individuals.