Sylvamo Q3 adjusted EBITDA beats analyst expectations

Overview

• US paper producer's Q3 net sales from continuing ops fell year-over-year after Europe reclassified as discontinued

• Q3 adjusted EBITDA beat analyst expectations

• Operating profit rose on higher prices and lower maintenance costs

Outlook

• Company expects to focus on Latin America and North America after proposed Europe business sale

• Company says North American supply and demand balance remains healthy, with paper price increases mostly implemented

• Company expects higher input and transportation costs due to supply chain pressures and high oil prices

Result Drivers

• PRICE INCREASES - Co said higher paper prices and improved mix contributed $25 mln to results

• LOWER MAINTENANCE COSTS - Reduced planned maintenance outage costs benefited quarterly results

• OPERATIONAL PERFORMANCE - Improved operational performance reduced costs by $6 mln

Company press release:

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)