Financial Reports & Markets
Resolute reports sales are up in second-quarter results
August 2, 2018 By P&PC Staff
August 2, 2018 – Resolute Forest Products Inc. has published its preliminary second quarter 2018 results, showing an increase in sales from the year-ago period.
Sales were $976 million in the second quarter of 2018, up $118 million from the second quarter of 2017.
“Overall positive price momentum and improved operational performance led to record profitability this quarter. Our strong financial results allowed repayment of $105 million of debt during the quarter, significantly improving our balance sheet and leverage,” said Yves Laflamme, president and chief executive officer at Resolute. “We are also very pleased that the countervailing duty order on supercalendered paper has recently been revoked, resulting in a $60 million refund of duty deposits over the coming months.”
Earlier this year, Resolute reached a new four-year collective agreement covering 1,100 employees at eight of the company’s Canadian pulp and paper mills.
Read the report here.
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