News
Recap of some of North America’s pulp and paper company 3rd quarter results

Please note there may have been more releases since this issue went to press.

Please note there may have been more releases since this issue went to press.

ABITIBI-CONSOLIDATED reported a third quarter loss of $48 million, or 11 cents a share. This compares to net earnings of $99 million, or 23 cents a share reported in the third quarter of 2005. For the first nine months of 2006, the company recorded net earnings of $76 million, or 17 cents a share, compared to $5 million, or 1 cent a share in the same period of last year.

FRASER PAPERS reported a loss of U.S. $6 million, from the corresponding quarter’s U.S. $5 million. Quarterly sales fell to $185 million, from $226 million.

NORAMPAC reported a net income of $24.3 million, or $26.1 million, excluding specific items for the quarter that ended September 30. This compares to a net loss of $11 million or a net income excluding specific items of $3.6 million for the same period in 2005.

KIMBERLY-CLARK reported that net sales in the third quarter rose 5.2% to $4.2 billion, a new quarterly record. Sales were up in each of the company’s four business segments, with particular strength in Health Care, Personal Care and K-C Professionals & Other.

SMURFIT-STONE reported sales for the third quarter of $1.8 billion, compared to sales of $1.7 billion in the third quarter of 2005. For the nine months that ended September 30, the company reported a net loss available to common stockholders of $93 million, or $0.36 per diluted share, compared to a net loss of $247 million, or $0.97 per diluted share, a year ago. Sales for the first nine months were $5.3 billion in 2006, compared to $5.2 billion in 2005.

WEYERHAEUSER reported third quarter net earnings of $211 million, or 85 cents per diluted share, on net sales of $5.3 billion. This compares with $285 million, or $1.16 per diluted share, on net sales of $5.4 billion for the third quarter of 2005.

CANFOR PULP INCOME FUND had net sales of $214.3 million, a net income of $41.9 million and EBITDA of $62.5 million for the quarter that ended September 30.

WEST FRASER TIMBER announced an $8 million loss, or $0.19 per share on sales of $809 million in the third quarter of 2006, compared to earnings of $104 million or $2.41 per share on sales of $888 million in the second quarter of 2006 and earnings of $18 million or $0.42 per share on sales of $890 million in the third quarter of 2005.

STORA ENSO reported sales of ?3 638 million. Operating profit was ?195.2 million, excluding non-recurring items. Sales in the third quarter were similar to those of the second. Increases in operating profit in packaging boards and wood products, excluding non-recurring items more than offset the decrease in fine paper. However, the results were negatively impacted by net non-recurring items of -?177.2 million, primarily related to closure and divestment decisions.

BOWATER reported a net loss of $16.1 million, or $0.28 per diluted share, on sales of $875.9 million for the third quarter of 2006. These results compare with a net loss of $16.0 million, or $0.28 per diluted share, on sales of $872.9 million in the third quarter of 2005.

INTERNATIONAL PAPER recorded net earnings of $1.6 million, or $0.03 per share in the third quarter, compared to $8 million or $0.17 per share in the second quarter, and $4.7 million or $0.10 per share in the third quarter of 2005.

NORBORD reported net earnings of $7 million or $0.05 per share. Earnings are down significantly compared to the prior quarter an same quarter last year as North American OSB prices continued their retreat from record highs. Third quarter EBITDA was $35 million.

CATALYST PAPER posted net earnings of $2.5 million or $0.01 per common share on sales of $486.0 million, compared to net earnings of $42.4 million or $0.20 per common share in the second quarter.