Financial Performance - Q1 2024 net income was $43 million ($1.02 per diluted share), down from $97 million ($2.25 per diluted share) in Q1 2023[92]. - Net sales for Q1 2024 were $905 million, a decrease from $941 million in Q1 2023[92]. - Adjusted EBITDA for Q1 2024 was $118 million with a margin of 13%, compared to $208 million and a margin of 22% in Q1 2023[92][108]. - Cash provided by operating activities decreased to $27 million in Q1 2024 from $63 million in Q1 2023[114]. - Free cash flow was $(33) million in Q1 2024, compared to $2 million in Q1 2023[92][110]. - Business segment operating profit for North America was $62 million in Q1 2024, down from $97 million in Q1 2023[99][106]. - Latin America segment operating profit decreased to $14 million in Q1 2024 from $46 million in Q1 2023[99][104]. - Europe segment net sales fell to $207 million in Q1 2024 from $230 million in Q1 2023, with an operating loss of $4 million[101][102]. Capital Expenditures - Total capital expenditures for the three months ended March 31, 2024, were approximately $60 million, representing 6.6% of net sales[120]. - Maintenance, regulatory, and reforestation capital expenditures accounted for approximately $56 million, or 6.2% of net sales, during the same period[120]. - High-return capital projects received approximately $4 million, or 0.4% of net sales, in capital expenditures[120]. - The company expects annual maintenance, regulatory, and reforestation capital expenditures to be in the range of $175 million to $190 million for the next several years[120]. - The company anticipates spending approximately $30 million to $35 million on high-return projects in 2024[120]. Financing Activities - Cash used for financing activities included $6 million for AR Securitization, $7 million for Term Loan F, and $4 million for Term Loan A during the three months ended March 31, 2024[118]. - The company paid $12 million in dividends and repurchased $5 million of shares during the three months ended March 31, 2024[118]. - In the same period of 2023, cash used for financing activities included $30 million for AR Securitization and $10 million in dividends[118]. Future Outlook - Looking ahead, the company expects improved volume and favorable pricing in Q2 2024, driven by seasonal demand and prior price increases[95]. Accounting and Risk - The company has not made any changes to its critical accounting policies during the first three months of 2024[123]. - There have been no material changes in the company's exposure to market risk since December 31, 2023[128]. Acquisition - The acquisition of the Nymölla mill in Sweden was completed on January 2, 2023, and its results are included in the financial statements from that date[96].

Financial Performance - Net income for Q1 2024 was $43 million ($1.02 per diluted share), down from $49 million ($1.16 per diluted share) in Q4 2023[4] - Adjusted EBITDA for Q1 2024 was $118 million with a 13% margin, compared to $117 million with a 12% margin in Q4 2023[4] - Free cash flow for Q1 2024 was $(33) million, a decrease from $104 million in Q4 2023[4] - Net income for the three months ended March 31, 2024, was $43 million, a decrease of 55.7% compared to $97 million for the same period in 2023[34] - Adjusted Operating Earnings per share for Q1 2024 was $1.07, down 57.4% from $2.51 in Q1 2023[34] - Total net sales for Q1 2024 were $905 million, a decline of 3.8% from $941 million in Q4 2023 and a decrease of 6.1% from $964 million in Q1 2023[34] Sales and Market Performance - Net sales for Q1 2024 were $905 million, down from $964 million in Q4 2023[11] - Volume decreased by $12 million due to expected seasonally weaker industry demand in Latin America[4] - North America segment reported net sales of $490 million in Q1 2024, down 3.0% from $505 million in Q4 2023[34] Profitability and Margins - Operating profit in North America for Q1 2024 was $62 million, up from $52 million in Q4 2023[14] - Adjusted EBITDA for Q1 2024 was $118 million, representing an adjusted EBITDA margin of 13.0%, compared to 22.1% in Q4 2023[40] - Operating profit for the North America segment was $62 million in Q1 2024, down 36.1% from $97 million in Q4 2023[35] Cash Flow and Capital Management - Cash provided by operating activities for Q1 2024 was $27 million, a decrease of 57.1% from $63 million in Q1 2023[46] - Free cash flow for Q1 2024 was negative $33 million, compared to positive $2 million in Q1 2023[48] - The company repurchased $20 million of shares in 2024, with $130 million remaining on its $150 million share repurchase authorization[7] Future Guidance and Projections - Adjusted EBITDA guidance for Q2 2024 is projected between $145 million and $160 million[4] - The company expects net income for the three months ending June 30, 2024, to be between $62 million and $72 million[51] Integration Costs - The company incurred integration costs of $2 million related to the Nymölla acquisition in Q1 2024[36] Tax Rate - The effective tax rate for Q1 2024 was 28%, compared to 27% in Q4 2023[15] Capital Projects - The company identified a pipeline of over $200 million in high-return capital projects to grow earnings and cash flows[8]

Workforce and Diversity - The company employs over 6,500 people globally, with 25% in Europe, 47% in Latin America, and 28% in North America[20] - The company aims for 30% overall women representation and 35% women in leadership positions by 2030[39] - The company has a diverse senior management team and is committed to fostering an inclusive workforce[35] - The company has launched Employee Assistance Programs globally to prioritize employee health and well-being[29] - The company has not experienced any material shortage of labor but acknowledges risks related to labor supply and public health crises[31] Environmental Sustainability - The company aims to reduce Scope 1, 2, and 3 GHG emissions by 35% and define a pathway to net zero emissions by 2030 against a 2019 baseline[43] - In 2022, over 80% of the energy used in the company's mills was generated from carbon-neutral biomass residuals, minimizing fossil fuel usage[64] - The company is committed to sourcing 100% of its fiber from sustainably managed forests and aims to conserve, enhance, or restore 250,000 acres of ecologically significant forestland globally by 2030[58] - The company has invested in reforestation efforts in the Atlantic Forest region of Brazil as part of its commitment to sustainable sourcing[58] - The company maintains partnerships with major environmental organizations to promote sustainable forest management and address critical forestry issues[59] - The company has established a dedicated sustainability team led by the Chief Sustainability Officer to develop and implement sustainability strategies[67] - The company plans to report on its sustainability initiatives and progress for 2023 in its upcoming ESG Report to be published in 2024[55] Compliance and Regulatory Risks - The company is subject to extensive environmental regulations, which may result in significant compliance costs[41] - The company is subject to new climate change disclosure rules proposed by the SEC and adopted by California, which may require significant resources for compliance[46] - The company recognizes the potential impact of evolving environmental regulations on its operations and financial condition, including costs associated with compliance and potential penalties[66] Financial and Operational Risks - The company acknowledges that forward-looking statements may not guarantee future performance and actual results could differ materially due to various risks and uncertainties[70] - Risks include deterioration of global economic conditions, climate change impacts, public health crises, and increased costs of raw materials and labor[70] - The company emphasizes reliance on a small number of customers and potential disruptions at manufacturing facilities as significant risks[70] - There is a risk of losing commercial agreements with International Paper, which could adversely affect financial conditions[70] - The company has no obligation to update forward-looking statements in its Annual Report to reflect subsequent events or actual outcomes[71] Transparency and Reporting - Annual reports and other filings are publicly available on the company's website, ensuring transparency for investors[72] - The company incorporates market risk disclosures in its financial condition and results of operations analysis[270] Safety and Operational Efficiency - In 2023, the company implemented "Project Horizon" to streamline operations and reduce costs, resulting in a leaner organization[31] - The company emphasizes safety with its "People Before Paper" program, which includes ongoing training and leadership emphasis[24] - The company tracks its safety record and reports it annually in its Environmental, Social and Governance Report[23] - In 2023, the company spent approximately $1.9 million on capital projects for environmental compliance, with expected expenditures of $4.8 million in 2024 and $9.5 million in 2025[48]

1 Fourth Quarter and Full Year 2023 Earnings February 15, 2024 Cautionary statement concerning forward 2 -looking statements We assume no obligation to update any forward-looking statements made in this presentation to reflect subsequent events, circumstances or actual outcomes. While Sylvamo reports its financial results in accordance with accounting principles generally accepted in the United States ("U.S. GAAP"), during the course of this presentation, certain non-U.S. GAAP financial measures are present ...

Sylvamo Corporation (NYSE:SLVM) Q4 2023 Earnings Conference Call February 15, 2024 10:00 AM ET Company Participants Hans Bjorkman - Vice President, Investor Relations Jean-Michel Ribiéras - Chairman and CEO John Sims - Senior Vice President and CFO Conference Call Participants George Staphos - Bank of America Harman Dhatt - RBC Operator Good morning and thank you for standing by. Welcome to Sylvamo’s Fourth Quarter 2023 Earnings Call. All lines have been placed on mute to prevent any background noise. After ...

Financial Performance - In Q3 2023, net income from continuing operations was $58 million ($1.37 per diluted share), up from $49 million ($1.14 per diluted share) in Q2 2023[103]. - Net sales for Q3 2023 were $897 million, a decrease from $919 million in Q2 2023[103]. - Adjusted EBITDA for Q3 2023 was $158 million, with an adjusted EBITDA margin of 17.6%, compared to $124 million and a margin of 13.5% in Q2 2023[103]. - Adjusted EBITDA for the nine months ended September 30, 2023, was $490 million, down from $551 million in the same period of 2022[129]. Segment Performance - In Q3 2023, Latin America segment net sales decreased by $24 million compared to Q3 2022, primarily due to lower sales volumes[119]. - North America segment net sales decreased by $113 million in Q3 2023 compared to Q3 2022, driven by lower sales volumes and decreased sales prices[124]. Cost Management - The company initiated a cost reduction program targeting run rate savings of at least $110 million by the end of 2024, with two-thirds expected from operational improvements[104]. - The company expects unfavorable price and mix in Q4 2024, primarily due to prior paper price decreases in Europe[105]. Cash Flow and Investments - The company reported a free cash flow of $155 million in Q3 2023, compared to $33 million in the prior quarter[103]. - Free cash flow for the nine months ended September 30, 2023, was $190 million, compared to $185 million for the same period in 2022, reflecting a slight increase[131]. - Cash provided by operating activities from continuing operations totaled $337 million for the nine months ended September 30, 2023, up from $276 million in the same period of 2022, indicating strong operational performance[135]. - Cash used for investing activities increased to $147 million for the nine months ended September 30, 2023, primarily due to the purchase of the Nymölla mill and increased capital spending[138]. - Capital expenditures for the nine months ended September 30, 2023, were approximately $147 million, or 5.3% of net sales, compared to $91 million in 2022[142]. - The company has invested approximately $131 million in maintenance, regulatory, and reforestation capital expenditures during the nine months ended September 30, 2023[143]. Financing Activities - Cash used for financing activities included $360 million paid to bondholders as part of a tender offer and $32 million in dividends during the nine months ended September 30, 2023[140]. Working Capital - Working capital components provided $3 million in cash for the nine months ended September 30, 2023, a significant improvement from cash used of $86 million in the same period of 2022[137]. - The increase in cash provided by operating activities in 2023 was primarily due to changes in working capital[136]. Future Outlook - The company anticipates future cash requirements will be met through operating cash flows, available cash balances, and borrowings as needed[132]. - The company expects to spend approximately $175 to $190 million annually on maintenance, regulatory, and reforestation capital expenditures for the next several years[143]. Acquisition Impact - The acquisition of Stora Enso's Nymölla mill in Sweden was completed on January 2, 2023, contributing $88 million to Q3 net sales[106][114].

Sylvamo Corporation (NYSE:SLVM) Q2 2023 Earnings Conference Call August 9, 2023 10:00 AM ET Company Participants Hans Bjorkman - VP, IR Jean-Michel Ribieras - Chairman and CEO John Sims - SVP and CFO Conference Call Participants George Staphos - Bank of America Paul Quinn - RBC Capital Markets Operator Good morning, and thank you for standing by. Welcome to Sylvamo's Second Quarter 2023 Earnings Call. [Operator Instructions] As a reminder, your conference is being recorded. I'd now like to turn the call ove ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to ______________________________ Commission File Number 001-40718 ________________ SYLVAMO CORPORATION (Exact Name of Registrant as Specified in its Charte ...

Sylvamo Corporation (NYSE:SLVM) Q1 2023 Earnings Conference Call May 9, 2023 10:00 AM ET Company Participants Hans Bjorkman - Vice President, Investor Relations Jean-Michel Ribieras - Chairman and Chief Executive Officer John Sims - Senior Vice President and Chief Financial Officer Conference Call Participants George Staphos - Bank of America Securities Paul Quinn - RBC Capital Markets Jonathon Luft - Eagle Capital Partners David Steinhardt - Contrarian Capital Management Operator Good morning. Thank you fo ...

The World's Paper Company We assume no obligation to update any forward-looking statements made in this presentation to reflect subsequent events, circumstances or actual outcomes. • Adjusted EBITDA and Adjusted EBITDA Margin Achieved our key objectives in 1Q23 4 DRIVING AMBITIOUS CORPORATE CLIMATE ACTION © 2023 Sylvamo Corporation. All rights reserved. © 2023 Sylvamo Corporation. All rights reserved. 7 $17 $208 Costs 1Q23 Maintenance Outages • No planned outages in the first quarter UFS Industry Conditions ...