Sylvamo Corporation (NYSE:SLVM) Q3 2023 Earnings Call Transcript

Operator: Mr. Staphos, please continue with your questions. Mr. Staphos, your line is open. Please go ahead.

George Staphos: Oh. Thank you so much .Last one for me. So share repurchase currently available authorization did you say $160 million? And do you have an outlook on maintenance at this juncture, gentlemen, for ’24?

John Sims: Yes, we have — I think I believe $167 million authorization. And we have yet to — we’re still developing plan for 2024, and we’ll probably be sharing the maintenance outlook with you and when we announce the fourth quarter.

George Staphos: Okay. At this juncture, would you expect relatively flat? Or could it be lower or likely higher?

John Sims: I would say right now, relatively flat.

George Staphos: Thank you, John. Yes. Understood. Thank you, guys.

Operator: And at this time, there are no further questions. I’d now like to turn the call back to Hans Bjorkman.

Hans Bjorkman: Thanks, Greg. Before I wrap up the call, Jean-Michel, any closing comments?

Jean-Michel Ribiéras: First of all, thank you for joining our call. We remain a cash flow story. We’re projecting $270 million in free cash flow this year and remain committed to returning $125 million to shareowners. We remain confident in our ability to generate strong EBITDA and free cash flows throughout the cycle. We will exit this current industry down cycle as a leaner, stronger company. We allocate capital to increase shareowner value. We use cash to maintain a strong balance sheet, return cash to shareowners and reinvest to our strengthen our businesses. We are confident in the future. So thank you, everybody.

Hans Bjorkman: Thanks for joining our call today. We appreciate your interest in Sylvamo, and we look forward to the discussions in the coming weeks and months ahead. Thank you so much.

Operator: Ladies and gentlemen, that does conclude your conference for today. Thank you for your participation and for using AT&T Teleconference. You may now disconnect.