Sylvamo Quarterly Results Exceed Outlook

Financial Highlights – Second Quarter vs. First Quarter
*Net income of $83 million ($1.98 per diluted share) vs. $43 million ($1.02 per diluted share)
*Adjusted operating earnings 1 of $83 million ($1.98 per diluted share) vs. $45 million ($1.07 per diluted share)
*Adjusted EBITDA 2 of $164 million (18% margin) vs. $118 million (13% margin)
*Cash provided by operating activities of $115 million vs. $27 million
*Free cash flow 3 of $62 million vs. $(33) million

Management Summary from Chairman and Chief Executive Officer Jean-Michel Ribiéras: “In the second quarter, price and mix were favorable and input costs largely remained stable compared to last quarter. Uncoated freesheet conditions improved in the first half of the year, with year-over-year demand up in Europe and North America and down slightly in Latin America. After successfully completing our heaviest planned maintenance outage quarter of 2024, we have more than 70% of our annual planned maintenance outages behind us.”
more at: https://investors.sylvamo.com/news/news-details/2024/Sylvamo-Quarterly-Results-Exceed-Outlook/default.aspx

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