The company said its full-year 2023 net earnings attributable to shareholders were $288 million ($0.82 per diluted share), lower than $1.5 billion ($4.10 per share) for 2022. Net sales were $18.9 billion, $21.2 billion from 2022.

1. 01

   The company said its full-year 2023 net earnings attributable to shareholders were $288 million ($0.82 per diluted share), lower than $1.5 billion ($4.10 per share) for 2022. Net sales were $18.9 billion, $21.2 billion from 2022.

2. 02

   The company said it permanently closed its Orange, Texas containerboard mill in December 2023, recording pre-tax non-cash asset write-off and accelerated depreciation charges of about $347 million and pre-tax cash charges of about $81 million. It said the shutdown of 2 pulp machines resulted in pre-tax non-cash charges of about $75 million and cash charges of about $37 million, both recorded in 2023.

3. 03

   The company said cash provided by operating activities, including discontinued operations, was $1.8 billion in 2023 ($2.2 billion in 2022). It returned about $840 million to shareowners, including about $640 million in dividends and about $200 million in share repurchases.

4. 04

   The company said it completed the sale of its Ilim stake on September 18, 2023 for $508 million and no longer has investments in Russia. It also said it is targeting capital expenditures of $800 million to $1.0 billion in 2024.

Key figures

Fiscal year ended December 31, 2023

Revenue

$18.9B

Net income

$288M

EPS

$0.82

Operating cash flow

$1.8B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.