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Overview

• Sylvamo Q2 revenue falls 15% yr/yr to $794 mln, missing analysts' expectations

• Adjusted EBITDA of $82 mln missed analyst estimates

• Company expects stronger performance in H2 due to reduced maintenance outages

Outlook

• Sylvamo expects Q3 adjusted EBITDA of $145 mln to $165 mln

• Company projects Q3 volume to improve by $15 mln to $20 mln

• Price and mix expected to decrease by $15 mln to $20 mln in Q3

• Planned maintenance expenses to decrease by $66 mln in Q3

Result Drivers

• MAINTENANCE OUTAGES - Q2 faced the heaviest maintenance outages in over five years, increasing expenses by $39 mln

• FOREIGN EXCHANGE IMPACT - Unfavorable foreign exchange impact of $13 mln affected results

• PRICE AND MIX - Favorable price and mix contributed $12 mln, driven by North America and Latin America

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the paper products peer group is "buy."

• Wall Street's median 12-month price target for Sylvamo Corp is $64.00, about 25.2% above its August 7 closing price of $47.84

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nBw4ZQqLJa

(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.)