Sylvamo Generates Strong Operating Cash Flow, Returns $127 Million in Cash to Shareowners in 2023
Sylvamo Corporation (SLVM)
Company Research
Source: Business Wire
MEMPHIS, Tenn.--(BUSINESS WIRE)--Sylvamo (NYSE: SLVM), the world’s paper company, is releasing fourth quarter 2023 earnings.Financial Highlights – 2023 Full YearNet income from continuing operations of $253 million ($5.93 per diluted share)Adjusted operating earnings1 of $278 million ($6.51 per diluted share)Adjusted EBITDA2 of $607 million (16% margin)Cash provided by operating activities from continuing operations of $504 millionFree cash flow3 of $294 millionPaid regular and special dividends totaling $57 millionRepurchased 1,574,133 shares of our common stock for approximately $70 million, resulting in 41.2 million shares outstanding as of Dec. 31Ended the year with net debt of $730 million ($950 million of gross debt and $220 million cash on hand)Financial Highlights - Fourth Quarter vs. Third QuarterNet sales of $964 million vs. $897 million (7.5% increase)Net income from continuing operations of $49 million ($1.16 per diluted share) vs. $58 million ($1.37 per diluted share)
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SLVM
News
- Sylvamo Announces 50% Quarterly Dividend Increase [Yahoo! Finance]Yahoo! Finance
- Sylvamo Announces 50% Quarterly Dividend IncreaseBusiness Wire
- North & Latin America Uncoated Freesheet (UFS) Market Report 2024: Market Set to Reach 7.55 Million Metric Tons in 2028, Declining at a CAGR of 1.19% During 2024-2028 [Yahoo! Finance]Yahoo! Finance
- Sylvamo Co. (NYSE: SLVM) had its price target raised by analysts at Royal Bank of Canada from $56.00 to $63.00. They now have a "sector perform" rating on the stock.MarketBeat
- Zacks Industry Outlook Highlights Stora Enso Oyj, Klabin, Sylvamo, Rayonier Advanced Materials and International Paper [Yahoo! Finance]Yahoo! Finance
SLVM
Earnings
- 5/10/24 - Beat
SLVM
Sec Filings
- 5/20/24 - Form 8-K
- 5/20/24 - Form 4
- 5/20/24 - Form 4
- SLVM's page on the SEC website