Sylvamo Q3 adjusted EBITDA beats analyst expectations
SLVM•SLVM•SLVM•SLVM•Sylvamo reported third-quarter adjusted EBITDA of $128 million, above the $124.17 million analyst consensus. Net sales from continuing operations fell year over year after Europe was reclassified as discontinued operations, while operating profit rose on higher prices and lower maintenance costs.
Sylvamo’s third-quarter adjusted EBITDA was $128 million, compared with analyst expectations of $124.17 million. The company reported $16 million in free cash flow, $85 million in net income from continuing operations and $87 million in segment operating profit. Higher paper prices and improved product mix contributed $25 million to results, and improved operational performance reduced costs by $6 million.
Sylvamo expects to focus on Latin America and North America after its proposed sale of the Europe business. The company said North American supply and demand remain balanced, with most paper price increases implemented, and expects higher input and transportation costs due to supply-chain pressures and high oil prices.
