Sylvamo Corporation - SLVM STOCK NEWS

Sylvamo (NYSE: SLVM), the world's leading paper company, will participate in the BofA Securities 2023 Global Agriculture and Materials Conference on Thursday, March 2, in Fort Lauderdale, Florida. CEO Jean-Michel Ribiéras and other leaders will discuss the paper and packaging sector during a panel discussion at 2:30 p.m. EST, which will also be streamed online. Interested attendees can register to watch the webcast here. More details about the presentation will be available at investors.sylvamo.com.

Sylvamo Corporation (NYSE: SLVM) has initiated a tender offer to purchase all outstanding 7.000% Senior Notes due 2029. Alongside this, the company is soliciting consents to amend the indenture governing the Notes. The proposed amendments aim to lift restrictive covenants and modify redemption notice requirements. To facilitate this, Sylvamo plans to amend its credit agreement and secure a new senior secured term loan of $300 million. The Tender Offer will close on March 21, 2023, with early tender considerations available until March 7, 2023. This financial maneuver is intended to streamline the company’s debt obligations and enhance flexibility.

Sylvamo (NYSE: SLVM) has declared a quarterly dividend of $0.25 per share for the period from April 1, 2023 to June 30, 2023. This dividend will be paid on April 27, 2023 to shareholders on record as of April 6, 2023. Headquartered in Memphis, Tennessee, Sylvamo is a leading paper company with operations across North America, Europe, and Latin America, generating net sales of $3.6 billion in 2022. The company aims to be the preferred employer and supplier in the industry, focusing on renewable resources to produce essential papers.

Sylvamo (NYSE: SLVM) has reached a cooperation agreement with its largest shareholder, Atlas Holdings, to enhance its board of directors by adding Karl Meyers and Mark Wilde as independent directors, effective March 1. This expansion brings the total number of directors to 11. The company will nominate these new directors for election at the 2023 annual shareholder meeting. Additionally, Sylvamo will terminate its shareholder rights plan. Both appointees bring extensive experience from the paper sector and equity research, positioning the company for potential strategic improvements.

Sylvamo (NYSE: SLVM) reported its fourth quarter 2022 earnings, revealing a net income from continuing operations of $88 million ($1.99 per diluted share), down from $109 million in the previous quarter. Adjusted operating earnings also declined to $87 million ($1.97 per share) compared to $112 million. Despite challenges, the company achieved a full-year net income of $336 million ($7.57 per share) and generated $721 million in adjusted EBITDA. The board initiated a quarterly dividend of $0.1125 per share. Looking ahead, adjusted EBITDA for 2023 is projected between $760 million and $840 million, reflecting positive expectations for cash flow.

Sylvamo (NYSE: SLVM), a leading paper company, is set to release its fourth quarter earnings on February 10, before the opening of the NYSE. The company will host an audio webcast at 10 a.m. EST for interested parties. Participants can join by calling the provided international and local numbers. Sylvamo operates mills across Europe, Latin America, and North America and reported net sales of $2.8 billion in 2021, aiming to be the preferred employer and supplier in the paper industry.

Sylvamo (NYSE: SLVM) has finalized the acquisition of Stora Enso's uncoated freesheet paper mill in Nymölla, Sweden, for 150 million euros. This mill enhances Sylvamo's product mix, allowing improved service across Europe and global markets. With a production capacity of 500,000 short tons annually, the facility produces various brands, including Multicopy. Notably, the mill operates with a strong environmental focus, generating 85% of its energy needs from carbon-neutral biomass. CEO Jean-Michel Ribiéras heralds this as a significant step towards sustainable growth.

Sylvamo (NYSE: SLVM), a leading paper company, announced the acquisition of Stora Enso's uncoated freesheet paper mill located in Nymolla, Sweden. The deal is valued at 150 million euros (approximately $160 million), with final adjustments based on net working capital and net debt. This strategic acquisition aims to enhance Sylvamo's market presence and operational capabilities in Europe. The company is headquartered in Memphis, Tennessee, and employs over 6,000 staff globally, with net sales reaching $2.8 billion in 2021.

Sylvamo (NYSE: SLVM) reported strong third quarter 2022 results, with net income from continuing operations of $109 million ($2.44 per diluted share), up from $84 million in the previous quarter. Adjusted operating earnings rose to $112 million, along with a free cash flow increase to $114 million. The board declared a quarterly dividend of $0.25 per share, payable on January 25, 2023. Key milestones included the sale of Russian operations for $420 million and achieving reduced gross debt below $1 billion. Adjusted EBITDA margins improved, with significant operational efficiencies noted across regions.