George Staphos's questions to Sylvamo Corp (SLVM) leadership • Q1 2025
Question
In a follow-up, George Staphos of Bank of America sought clarification on North American demand, asking about the discrepancy between apparent and underlying demand due to imports, and whether the Q1 operational issues impacted the major capital projects at the Eastover mill.
Answer
John Sims, Senior Vice President and Chief Operating Officer, clarified that apparent demand is down 1% due to a surge of imports now in inventory, while they believe underlying demand is down 3-4%. He also confirmed the operational issues did not impact the Eastover projects, which remain on schedule for a startup next year. Chairman and CEO Jean-Michel Ribiéras added that Sylvamo's own order flow remains strong.