Sylvamo Reports First Quarter 2023 Results
“We generated $208 million in adjusted EBITDA, which was consistent with our outlook of $205 million to $215 million, and achieved a 22% adjusted EBITDA margin,” said Jean-Michel Ribiéras. “We maintained a strong balance sheet and repurchased 80% of our outstanding notes to eliminate restrictive covenants in the notes agreement. These steps enabled us to continue on the path to returning more cash to shareowners.” Financial Highlights – First Quarter vs. Fourth Quarter *Net income from continuing operations of $97 million ($2.25 per diluted share) vs. $88 million ($1.99 per diluted share) *Cash provided by operating activities from continuing operations of $63 million vs. $142 million