Sylvamo reports strengthening order books

Sylvamo has said market conditions for its products are improving.

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Sylvamo has said market conditions for its products are improving.

The global paper manufacturer reported Q1 results that were ahead of its expectations as price/mix improved and input costs stabilised compared with the final quarter of 2023. Higher order levels meant there was less economic downtime take in the quarter and the company expects momentum to continue during the rest of the year.

That said, year-on-year comparisons for the quarter were less favourable. Despite selling 65,000 tons more paper and 8,000 tons more pulp than in Q1 2023, total company sales fell by 3.8% to $905 million and business segment operating profit more than halved to $72 million. The biggest driver of the declines was price/mix.

Memphis (TN), USA