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Sylvamo (SLVM) investor relations material
Sylvamo Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved $448 million in Adjusted EBITDA (13% margin) and $44 million in free cash flow for 2025, with a 12% return on invested capital, despite a challenging environment.
Returned $155 million in cash to shareholders and reinvested $224 million in manufacturing and forestry assets.
2026 is a transition year with major investments and operational changes, especially in North America, including the Eastover mill project.
Uncoated freesheet sales volume increased 9% quarter-over-quarter in Q4 2025, with ongoing productivity improvements.
Maintained a strong balance sheet with net debt-to-adjusted EBITDA of 1.6x.
Financial highlights
2025 Adjusted EBITDA was $448 million (13% margin), with free cash flow of $44 million and net sales of $3.4 billion.
Adjusted operating earnings were $3.54 per share for 2025.
Q4 2025 Adjusted EBITDA was $125 million (14% margin), with $38 million in free cash flow and $1.08 adjusted operating earnings per share.
Returned $155 million to shareholders and invested $224 million in capital spending in 2025.
Net debt-to-adjusted EBITDA was 1.6x at year-end 2025.
Outlook and guidance
2026 will be a transition year with major investments, especially at the Eastover mill, and capital spending peaking at $245 million.
Discontinued quarterly and full-year Adjusted EBITDA and free cash flow guidance to focus on long-term value.
2026 and 2025 are expected to be low points for free cash flow due to cyclical downturns and major investments.
Long-term targets include annual free cash flow above $300 million and ROIC above 15% as investments mature.
Income tax rate guidance for 2026 is 30%-31%.
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