GreenFirst Reports Financial Results for the Third Quarter of 2024

“Q3 2024 was a challenging quarter for GreenFirst and the broader industry. July was our toughest month, primarily due to low pricing, but both August and September saw improvements in pricing. Average Western Base pricing rose from $338/mfbm in July to $428/mfbm early November 2024. In July, due to market conditions and high inventory levels, we implemented targeted curtailments equivalent to six weeks of production. Despite this, our operations ran smoothly for the remainder of the quarter. We also continue to manage cash tightly, including postponing capital expenditures during the third quarter. Aside from the curtailment in July, we achieved good operational performance, breaking production records across multiple sites. In fact, during the third quarter, our efficiency was 4% higher as compared to 2023. Looking ahead, we expect pricing to continue improving for the rest of the year, primarily driven by industry curtailments across North America and reversals in monetary policy by the Bank of Canada and the US Federal Reserve. However, we remain cautious in the short term, and the Company will continue to focus on tightly managing its costs and liquidity. Finally, as previously announced, GreenFirst will continue its strategy of selling non-core assets.” said Joel Fournier, Chief Executive Officer of GreenFirst.
details at: https://greenfirst.ca/2024/11/greenfirst-reports-financial-results-for-the-third-quarter-of-2024/

Related Posts

Fedrigoni acquires some assets of the US-based company Mohawk

The Fedrigoni Group, one of the world's leading manufacturers of special papers, self-adhesive materials, and RFID solutions, announces the acquisition of certain assets of Mohawk Fine Papers, Inc., the company it entered into an industrial partnership with last September 2022 to strengthen the distribution of specialty fine papers in the North American market. The transaction was finalized through a NewCo incorporated by Fedrigoni to acquire Mohawk's assets in a sale process initiated by a financial institution, following a period of significant financial distress that affected the U.S.-based company in the past months. The transaction entirely cleared the new company from existing indebtedness, allowing to preserve the majority of existing jobs, industrial activities and customer relationships. Founded in 1931, Mohawk is a family-owned company that produces some of the best-known specialty papers for designers, brands, and printers and that - like Fedrigoni - has strongly innovated in the field of digital printing and sustainability. The sharing of core values such as solid know-how and a focus on innovation and environmental impact reduction led to the acquisition of this firm, which becomes part of the Fedrigoni Special Papers division and represents an important piece in the group's overseas growth strategy.

Tronox Announces Closing of Incremental Term Loan

Tronox Holdings plc, the world’s leading integrated manufacturer of titanium dioxide pigment, announced the closing of its $350 million incremental term loan under the Company’s existing credit agreement, the proceeds of which are expected to be used to repay outstanding borrowings under the Company’s existing revolving credit facilities and enhance available liquidity for upcoming capital expenditures.

KP Tissue Releases Second Quarter 2021 Financial Results

KPLP Q2 2021 Business and Financial Highlights • Revenue decreased by $47.5 million or 12.3% to $339.3 million in Q2 2021 compared to $386.8 million in Q2 2020. • Adjusted EBITDA was $37.3 million in Q2 2021 compared to $64.4 million in Q2 2020, a decrease of 42.1%, and similar sequentially to the $37.5 million in Q1 2021. • TAD Sherbrooke continues to run above the expected start-up curve. • Completed financing for the Sherbrooke Expansion Project. • Declared a quarterly dividend of $0.18 per share to be paid on October 15, 2021.
Back To Top
×Close search
Search