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Sylvamo (NYSE: SLVM) , the company spun out of International Paper in 2021, is selling a lot more paper than Wall Street had expected.
Investors are taking note, sending Sylvamo shares up 24% as of 3 p.m. ET Thursday.
Sylvamo is the international paper company created when International Paper decided to focus on its cardboard and cellulose fiber divisions. Sylvamo earned $1.16 per share in the fourth quarter of 2023 on revenue of $964 million, beating Wall Street estimates by $0.32 per share and $56 million, respectively.