Sylvamo Releases Fourth-Quarter Results With Robust Earnings and Cash Flow

Message from the Chairman and Chief Executive Officer:
“During our first quarter as a stand-alone company, we delivered strong earnings and generated significant cash,” said Jean-Michel Ribiéras. “Our fourth-quarter adjusted EBITDA was $170 million, reflecting strong commercial and operational performances globally. We generated $162 million of free cash flow, which we used to pay down debt by $124 million and increase cash on hand by $48 million. We also achieved a gross debt-to-adjusted EBITDA ratio of 2.4x, strengthening our balance sheet and increasing our flexibility to increase shareowner value.

“Momentum is strong heading into 2022 despite input cost, labor and supply chain challenges. We are well positioned to increase our earnings and generate strong cash flow in 2022. We project first-quarter adjusted EBITDA of $180 to $190 million and adjusted operating earnings per share of $1.70 to $1.90. We remain focused on generating strong free cash flow, further reducing debt and creating long-term stakeholder value.”

Fourth-Quarter Highlights
*Net income of $62 million ($1.41 per diluted share) compared with $92 million ($2.09 per pro forma share1) in the third quarter of 2021
*Adjusted operating earnings2 (non-GAAP) of $75 million ($1.71 per diluted share) compared with $100 million ($2.27 per pro forma share) in the third quarter of 2021
*Adjusted EBITDA3 (non-GAAP) of $170 million (17.5% margin) compared with $177 million (19.5% margin) in the third quarter of 2021
*Free cash flow4 (non-GAAP) of $162 million compared with $135 million in the third quarter of 2021

Fourth-Quarter Commercial and Operational Highlights
*Price and mix improved by $41 million versus the prior quarter and volume improved by $14 million, reflecting solid industry fundamentals and continued commercial excellence performance by our teams
*Operations improved by $2 million and total planned maintenance outage expenses increased by $24 million versus the prior quarter
*Input costs increased by $39 million versus the prior quarter, reflecting higher costs for wood, energy, chemicals, packaging and distribution
*Adjusted EBITDA margins for Europe, Latin America and North America were 9%, 35% and 13%, respectively, with Europe and North America margins being impacted by maintenance outages in those regions
*Repaid $124 million of debt, achieving a gross debt-to-adjusted EBITDA ratio of 2.4x at year-end
details at: https://investors.sylvamo.com/news/news-details/2022/Sylvamo-Releases-Fourth-Quarter-Results-With-Robust-Earnings-and-Cash-Flow/default.aspx

Related Posts

Canfor Reports Results for Second Quarter of 2023

Overview • Q2 2023 operating loss of $67 million including a $57 million reversal of a previously recognized inventory write-down; • Strong earnings continued at the Company’s European and US South operations with persistent challenges in British Columbia • Sustained pressure on global lumber market fundamentals and pricing, particularly in North America • Increased North American lumber production & shipments despite ongoing curtailments in British Columbia and permanent closure of Chetwynd facilities and temporary closure of Houston sawmill • Significant deterioration in global pulp market fundamentals; closure of the pulp line at Prince George Pulp and Paper Mill; subsequent to quarter-end, short curtailment of Northwood NBSK pulp mill amidst British Columbia port strike

Neenah Presents Rethink Everything , A Salute to Dreamers, Designers, and Big Ideas

In this mercurial moment, with clients pausing projects, the world holding its breath, and creative tanks running on fumes, how are designers pivoting to meet the changing world head-on? Neenah explores that question in Rethink Everything, an inventive editorial promotion that tells the stories of six creative pioneers who dream big, think futuristically, focus on sustainability, and inspire creatives to shift the design's perception business. With this new CLASSIC® Papers promotion, Neenah aims to uplift the design community and celebrate designing for tomorrow, while rethinking everything along the way.“ With “Rethink Everything,” we shine a light on innovators, artists, designers, and printers who are reshaping the future. The world is moving quickly, but the time is now for creatives to push design boundaries. At Neenah, our desire is to provide you with both the inspiration and the backdrop to bring your creative vision to life on beautiful, sustainable paper,” says Ellen Bliske, Director of Marketing, Commercial Print, for Neenah.

Solenis To Acquire Paper Process Chemicals Business of KLK Kolb Group

Solenis and Kolb Distribution Ltd. have announced that Solenis has entered into a definitive agreement to acquire the latter’s paper process chemicals business. The deal includes a long-term supply agreement, in which the KLK Kolb Group will manufacture paper process chemicals exclusively for Solenis. KLK Kolb Group offers a broad portfolio of paper process chemicals, including deposit control, cleaning and foam control agents primarily for the EMEA pulp and paper markets. Its wide range of manufacturing process technologies, including alkoxylation, esterification and dispersion, enables KLK Kolb Group to offer a broad range of products, as well as offer customized solutions for its customers.
Back To Top
×Close search
Search