Sylvamo Reports Q3 Non-GAAP EPS of $1.33, Exceeding Estimates
Sylvamo Corporation (SLVM) reported third-quarter financial results featuring a Non-GAAP earnings per share (EPS) of $1.33, which surpassed analyst expectations by $0.20. Despite the earnings beat, the company's revenue for the quarter reached $645 million, representing a 2.6% decline compared to the same period last year. The results come amid strategic shifts for the company, including plans to carve out its European business through a deal with Midas Atlantic. Management has highlighted that current near-cycle-low free cash flow levels present an attractive recovery opportunity for investors moving forward.
Tickers: $SLVM
Topics: earnings beat non-GAAP EPS revenue decline