Sylvamo Delivers Strong Earnings in First Full Year

Sylvamo (NYSE: SLVM), the world’s paper company, is releasing fourth quarter 2022 earnings.

Financial Highlights – 2022 Full Year:
*Net income from continuing operations of $336 million ($7.57 per diluted share)
*Adjusted operating earnings1 (non-GAAP) of $348 million ($7.84 per diluted share)
*Adjusted EBITDA2 (non-GAAP) of $721 million (20% margin)
*Cash provided by operating activities from continuing operations of $418 million
*Free cash flow3 (non-GAAP) of $269 million
*Board of directors initiated a quarterly dividend of $0.1125 per share, paid for in the third and fourth quarters for a total of $10 million
*Repurchased 1,556,835 shares of our common stock for approximately $80 million in the fourth quarter, resulting in 42.6 million shares outstanding as of Dec. 31

Message from the Chairman and Chief Executive Officer: “I’m proud of our team and the strong earnings and free cash flow they generated in our first full year of operations,” said Jean-Michel Ribiéras. “We managed supply chain, inflation and geopolitical challenges successfully while delivering outstanding results by implementing our three-pronged strategy of commercial excellence, operational excellence and financial discipline.”
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