Sylvamo Corporation (SLVM) saw its stock price plummet 7.09% in pre-market trading on Friday following the release of its second-quarter earnings report that fell short of analysts' expectations. The paper company's disappointing results were primarily attributed to earnings miss, revenue shortfall, and increased maintenance expenses.

Sylvamo reported quarterly earnings of $0.37 per share, significantly missing the analyst consensus estimate of $0.49 by 24.49%. This represents a substantial 81.31% decrease compared to earnings of $1.98 per share from the same period last year. The company's quarterly sales came in at $794 million, falling short of the analyst consensus estimate of $826.597 million by 3.94%. This marks a 14.90% decrease from sales of $933 million in the same quarter of the previous year.

The company faced challenges in the second quarter, including the heaviest maintenance outages in over five years, which increased expenses by $39 million. Despite these setbacks, Sylvamo remains optimistic about its future performance. The company expects quarterly earnings to significantly improve in the second half of the year, projecting adjusted EBITDA between $145 million and $165 million for the third quarter. This anticipated improvement is largely due to reduced maintenance outages and seasonal volume improvements in Latin America and North America.