Tembec’s third quarter results have left the wood products company with much to be desired.
Tembec’s third quarter results have left the wood products company with much to be desired.
The combined forces of a strong Canadian dollar, U.S. lumber duties, higher energy costs and reduced timber supplies led the company to post a $142.5 million loss, or $1.66 a share. This compares to a loss of $12.6 million, or 15 cents a share, just one year earlier.
The results also include an after-tax loss of $91.7 million or $1.07 a share, related to mill closures, and an after-tax loss of $16.8 million, or 20 cents a share, on the translation of its U.S. dollar-denominated debt.
After adjusting for these items and certain specific items, the company would have lost $49.8 million, or 58 cents a share.
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