Resolute Announced Muted Second Quarter Results

SEATTLE (Scrap Monster): Resolute Forest Products Inc. announced results for second quarter 2022.

The company reported net income of $256 million, or $3.29 per diluted share during the quarter, compared with net income of $268 million, or $3.34 per diluted share in the same period in 2021. The sales registered a decline by $82 million from the year-ago period to total $1,058 million in the quarter. Excluding special items, the company reported net income of $155 million, or $2.00 per diluted share. This compares with net income of $300 million, or $3.74 per diluted share in Q2 last year.

The wood products segment generated operating income of $180 million in the quarter, down by $39 million than the previous quarter. The operating income from the market pulp segment edged higher by $19 million from the prior quarter to $41 million in the second quarter of 2022. The tissue segment incurred an operating loss of $9 million in the quarter. Meantime, the paper segment recorded operating income of $37 million during the quarter, said the company press release.

Resolute generated $281 million of cash from operating activities in the quarter. The liquidity as at the three-month period ended 30th June, 2022 stood at $1.3 billion.

YOU MAY ALSO BE INTERESTED IN:

Resolute Announced Ratification of Collective Agreement with Unifor

Resolute Forest Products Bullish on Future Lumber Outlook