Resolute Forest Products reports fourth-quarter loss, sales up from year ago
Cedar planks are stacked at a lumber yard in Montreal, Tuesday, April 25, 2017. THE CANADIAN PRESS/Paul Chiasson February 04, 2021 - 12:30 PM
MONTREAL - Shares in Resolute Forest Products Inc. fell on Thursday after it reported a net loss of US$52 million in the fourth quarter compared with a loss of US$71 million in the same period a year earlier.
Its shares fell by as much as 13 per cent or $1.48 to $9.91 in morning trading on the Toronto Stock Exchange before recovering to $10.38, down $1.01, at 3 p.m. ET.
The company s quarterly conference call to discuss results was the last for CEO Yves Laflamme, who is retiring as of March 1 after 39 years with the company and being replaced by Remi Lalonde, Resoluteâs chief financial officer.
Resolute Reports Preliminary Fourth Quarter and 2020 Results
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Adjusted EBITDA of $129 million in the quarter / $338 million for the full year
Net debt down by $93 million to $448 million / year-end liquidity at $693 million
Repurchased 2.1 million shares in Q4 / 6.9 million (8%) in 2020
Completed private offering of $300 million 4.875% senior unsecured notes
MONTRÉAL, Feb. 4, 2021 /PRNewswire/ - Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today reported a net loss for the quarter ended December 31, 2020, of $52 million, or $0.63 per share, compared to a net loss of $71 million, or $0.79 per share, in the same period in 2019. Sales were $769 million in the quarter, an increase of $101 million from the year-ago period. Excluding special items, the company reported net income of $45 million, or $0.55 per diluted share, compared to a net loss of $53 million, or $0.59 per share, in the fourth quarter of 2019.
Resolute Forest Products reports fourth-quarter loss, sales up from year ago
by The Canadian Press
Last Updated Feb 4, 2021 at 9:44 am EDT
MONTREAL Resolute Forest Products Inc. says it lost US$52 million in its latest quarter compared with a loss of US$71 million in the same quarter a year earlier.
The forestry company, which keeps its books in U.S. dollars, says the loss amounted to 63 cents per share for the quarter ended Dec. 31 compared with a loss of 79 cents per share in the last three months of 2019.
Sales in what was the company’s fourth quarter totalled US$769 million, up from US$668 million a year earlier.
Resolute Forest Products reports Q4 loss, sales up from year ago
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MONTREAL Shares in Resolute Forest Products Inc. fell on Thursday after it reported a net loss of US$52 million in the fourth quarter compared with a loss of US$71 million in the same period a year earlier.
Its shares fell by as much as 13 per cent or $1.48 to $9.91 in morning trading on the Toronto Stock Exchange before recovering to $10.38, down $1.01, at 3 p.m. ET.
The company s quarterly conference call to discuss results was the last for CEO Yves Laflamme, who is retiring as of March 1 after 39 years with the company and being replaced by Remi Lalonde, Resolute s chief financial officer.
Winnipeg Free Press By: The Canadian Press
Last Modified: 2:30 PM CST Thursday, Feb. 4, 2021
MONTREAL - Shares in Resolute Forest Products Inc. fell on Thursday after it reported a net loss of US$52 million in the fourth quarter compared with a loss of US$71 million in the same period a year earlier.
Cedar planks are stacked at a lumber yard in Montreal, Tuesday, April 25, 2017. THE CANADIAN PRESS/Paul Chiasson
MONTREAL - Shares in Resolute Forest Products Inc. fell on Thursday after it reported a net loss of US$52 million in the fourth quarter compared with a loss of US$71 million in the same period a year earlier.