Loading prices...

Register/Sign in
ScrapMonster
Sell Your Junk CarGet an instant quote for your car on ScrapMonster.com
Paper Recycling May 10, 2019 10:30:55 AM

Cascades Declares Strong Q1 2019 Results, Income Surges 295%

Paul Ploumis
ScrapMonster Author
The sales were up marginally by 3% from $1,196 million to $1,230 million quarter-on-quarter.

Cascades Declares Strong Q1 2019 Results, Income Surges 295%

SEATTLE (Scrap Monster): Cascades, Inc. reported strong financial results for the first quarter of 2019. The company reported net earnings per share of $0.26 as compared to net loss of $0.72 in the prior quarter. The operating income skyrocketed 295% from $37 million in Q4 2018 to $72 million in the first quarter of 2019.

The sales were up marginally by 3% from $1,196 million to $1,230 million quarter-on-quarter. Upon comparison with the corresponding quarter a year before, the sales recorded 12% surge. All four business segments- European Boxboard, Containerboard Packaging, Specialty Products and Tissue contributed to the increased sales.

Mario Plourde, President and Chief Executive Officer noted that all of its business segments generated solid results that were in line with or above expectations. The higher average selling prices, price increases announced last year, lower raw material prices and lower production costs boosted the results.

The Board also declared a quarterly dividend of $0.04 per share.

Cascades, Inc. expects sequential and year-on-year improvement in results in the near-term, mainly due to seasonal demand trends and encouraging market dynamics. The recent acquisitions and lower recycled fibre pricing is likely to benefit European Boxboard performance. Moderately improved results are anticipated from Specialty Products segment as well. It maintained positive outlook for Tissue segment, as internal efforts to realign the performance are expected to deliver results.

×

Quick Search

Advanced Search