RFP Lumber Shipments to Witness Surge in Q4
Rubber and Wood | 2021-11-05 12:43:18
The net sales were up by $87 million year-on-year to total $817 million.
By Paul Ploumis
SEATTLE (Scrap Monster): Resolute Forest Products Inc. reported preliminary third quarter 2021 results.
The company reported net income of $80 million, or $0.99 per diluted share, for the quarter ended 30th September, 2021. This compares with the net income of $57 million, or $0.66 per diluted share, in the same period in 2020. Excluding special items, the company reported net income of $67 million, or $0.84 per diluted share, compared to net income of $62 million, or $0.72 per diluted share, in the comparable quarter a year before. The net sales were up by $87 million year-on-year to total $817 million.
The company reported operating income of $102 million in the quarter. The wood products segment generated operating income of $64 million in the quarter, down from $341 million in the prior quarter. In the market pulp segment, the company generated operating income of $46 million. The tissue segment incurred an operating loss of $9 million in the quarter. RFP generated an operating income of $16 million in the paper segment in Q3 this year, said the company press release.
The company anticipates higher lumber shipments and slightly lower fiber costs during the upcoming quarter. Going by the trend in market prices, it expects a reduction in average transaction price in Q4 this year over the prior quarter.
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