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Jean-Michel Ribieras, Chairman and CEO of Sylvamo Corp (NYSE:SLVM), sold 21,250 shares of the company’s stock on March 17, according to a recent SEC filing. The shares were sold at an average price of $65.14, totaling approximately $1.38 million. Following this transaction, Ribieras holds 131,894 shares directly. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan set in November 2024. Trading at a P/E ratio of 9.7 with a robust 35% return on equity, Sylvamo has been actively managing shareholder value through aggressive share buybacks. InvestingPro analysis shows 7 additional key insights available for subscribers, along with a comprehensive Pro Research Report that provides deep-dive analysis of the company’s fundamentals.
In other recent news, Sylvamo reported its fourth-quarter earnings for 2024, with earnings per share reaching $1.96, surpassing analyst expectations of $1.80. The company also reported revenue of $970 million, slightly above the forecast of $965.41 million. Despite these positive results, the company highlighted potential challenges ahead, including anticipated paper price decreases in Europe and Brazil, and rising input and transportation costs due to higher energy prices in North America. For the full year of 2024, Sylvamo’s net income was $302 million, or $7.18 per diluted share, an increase from the previous year. The company achieved an adjusted EBITDA of $632 million, reflecting a 17% margin, but experienced a decrease in cash provided by operating activities to $469 million from $504 million year-over-year. Additionally, Sylvamo announced a $145 million investment in its South Carolina operations to enhance production capabilities and reduce costs. This includes upgrading a paper machine at the Eastover mill and installing a new cutsize sheeter at the Sumter plant, with completion expected by late 2026. The company also entered a 20-year partnership to outsource woodyard operations, which is expected to improve efficiency and avoid $75 million in capital expenditures.
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