Sylvamo Corp reports results for the quarter ended June 30 - Earnings Summary
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Sylvamo Corpreported adjusted earnings of 37 cents per share for the quarter ended June 30, down from $1.98 a year ago and below analysts' expectations of 44 cents. Revenue fell 14.9% to $794 million, missing the forecast of $828.07 million. The stock has dropped 4.5% this quarter and 39.5% year-to-date. Analysts have reduced earnings estimates by 45.5% in the last three months, with a current average rating of "hold". The median 12-month price target is $64.00, 25.2% above the last closing price of $47.84.
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