Sylvamo Q1 adjusted EBITDA $208M in line; Q2 outlook $115-125M, below Q1; repurchased $360M notes

Sylvamo Corp

2023-Q1 EPS reported $2.25 revenue$959,000,000

Net income from continuing ops $97M ($2.25/diluted); adj. op. earnings $108M ($2.51/diluted), up >85% YoY.
Adjusted EBITDA $208M (22% margin) in line with guidance; Q2 EBITDA guidance $115-$125M, much lower.
Repurchased $360M of 2029 notes, eliminated restrictive covenants; net debt/EBITDA ratio 1.1x.
Full-year 2023 adj. EBITDA guidance $720-$770M; free cash flow $250-$280M.
Board declared $0.25/share dividend; added two independent directors, terminated shareholder rights plan.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Sylvamo Corp reported the fiscal quarter ended March 31, 2023 results: net income $97 million, EPS $2.25 per diluted share.

Period: the fiscal quarter ended March 31, 2023
Net income: $97 million
EPS: $2.25 per diluted share
Result: reported results

Exact text from the filing

Net income from continuing operations of $97 million ($2.25 per diluted share) vs. $88 million ($1.99 per diluted share)

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Source: SEC EDGAR

accession 0001856485-23-000012

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