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Rubber and Wood August 07, 2020 09:00:56 PM

Cascades Recorded Robust Q2 Results

Paul Ploumis
ScrapMonster Author
The net earnings per share stood at $0.57 in Q2 this year.

Cascades Recorded Robust Q2 Results

corded SEATTLE (Scrap Monster): Cascades, Inc. reported strong results for the second quarter of 2020.

The company reported sales of $1,285 million, compared to $1,313 million in the prior quarter. The adjusted operating income of $111 million was significantly higher by 23% from $90 million in the prior quarter and by 32% from $84 million in the same quarter a year before.

The net earnings per share stood at $0.57 in Q2 this year. Cascades reported reduced net debt of $2,077 million as at the end of June 30, 2020, as compared with $2,212 million during the end of the prior quarter.

Mario Plourde, President and CEO said that the company’s operations delivered improved consolidated results during the quarter. The strong performance highlights the resilience of its business model. All of the business segments navigated through the challenging business environment during the quarter on account of the Covid-19 pandemic.

The company press release noted that the company continues to remain cautiously optimistic about its operational performance in the near-term. If needed, the company will have to readjust its investment plans, based on future market conditions. Also, Cascades declined to provide any update on its Bear Island Conversion project, the analysis of which continues to progress on a slow pace.


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