Market pulp segment posted a Q/Q growth of $13M in operating income with price gain of 6% while tissue segment got impacted by lower sales.
Adj. EBITDA of $37M reflects the contribution of $25M from Wood Products segment that recorded higher shipment due to added capacity from the recently-acquired U.S. sawmills.
Disposition of the Augusta newsprint mill was completed for $9M in the quarter.
Adj. net loss of $22M or 0.25/share, compared to net income of $11M or $0.12 a year ago.
Debt reduced by $191M; liquidity up $47M to $396M.
Looking forward, president and CEO Yves Laflamme said “pandemic will continue to impact demand for paper products” while the hopes coming from higher pulp demand could be “under short-term pressure as those markets stabilize in the ongoing pandemic economy.”
Laflamme added the lumber market lately has been a bright spot and eyeing the promising lumber demand, the company plans to bring the El Dorado facility on-line in early 2021.Bulls Eye: RFP stock returned 43.46% in last 1 month.
Previously: Resolute Forest Products EPS beats by $0.05, beats on revenue (July 30)