Sylvamo Q2 net income rises to $83 million, or $1.98 per diluted share
Sylvamo reported second quarter 2024 net income of $83 million, or $1.98 per diluted share, up from $43 million, or $1.02, in the first quarter and from $49 million a year earlier. Adjusted EBITDA rose to $164 million from $118 million, and the company gave a third quarter adjusted EBITDA outlook of $170 million to $185 million, which gives shareholders a view of expected near-term earnings.
- Net sales of $933 million, up from $905 million in the first quarter and $919 million in the second quarter of 2023
- Free cash flow of $62 million, compared with negative $33 million in the first quarter
- Third quarter 2024 adjusted EBITDA outlook of $170 million to $185 million
- Net special items were $0 million in the second quarter, compared with a $2 million after-tax charge in the first quarter