Sylvamo Q3 net income $109M, div up to $0.25, sells Russia for $420M, buys Sweden mill

Sylvamo Corp

2022-Q3 EPS reported $0.54 revenue$2,701,000,000

Net income from continuing ops $109M ($2.44 diluted EPS) vs $84M in Q2 2022; revenue $968M, up from $912M.
Adjusted EBITDA $216M (22.3% margin); free cash flow $114M vs $39M in Q2.
Board approved quarterly dividend increase to $0.25/share, payable Jan 25, 2023 to record Jan 4.
Completed sale of Russian ops for $420M, netting ~$390M cash; reduced gross debt to <$1B, leverage <1.5x.
Agreed to acquire Nymolla mill in Sweden for ~€150M ($150M); expected to close Q1 2023, accretive with >$20M synergies.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sylvamo Corp reported the fiscal quarter ended September 30, 2022 results: net income $109 million, EPS $2.44 per diluted share. Guidance initiated.

Period: the fiscal quarter ended September 30, 2022
Net income: $109 million
EPS: $2.44 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Net income from continuing operations of $109 million ($2.44 per diluted share) compared with $84 million ($1.89 per diluted share) in the second quarter of 2022

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Source: SEC EDGAR

accession 0001856485-22-000036

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