Sylvamo Second Quarter Results Show Increased Earnings and Operating Margins
"We saw increasing earnings and operating margins in the second quarter after a successful first quarter. We are also raising our adjusted EBITDA and free cash flow full-year guidance based on our first half of the year performance and our second half outlook," said Jean-Michel Ribiéras. "We remain committed to reducing debt, investing in high-return projects and returning cash to shareowners as we continue delivering on our investment thesis." Second Quarter Highlights *Net income from continuing operations of $84 million ($1.89 per diluted share) compared with $55 million ($1.25 per diluted share) in the first quarter of 2022 *Repaid $48 million of debt, achieving a gross debt-to-adjusted EBITDA ratio of 2.2x. Second Quarter Commercial and Operational Highlights *Price and mix improved by $73 million versus the prior quarter, mainly due to prior price increases implemented in all regions *Operations improved by $2 million and total planned maintenance outage expenses rose by $17 million in North America *Input costs grew by $16 million versus the prior quarter, reflecting higher chemical, energy, fiber and transportation costs.