Domtar Corporation Reports Preliminary Third Quarter 2020 Financial Results
Domtar Corporation reported a net loss of $92 million for the third quarter of 2020 compared to net earnings of $19 million for the second quarter of 2020 and net earnings of $20 million for the third quarter of 2019. Sales for the third quarter of 2020 were $1.1 billion. Operating loss was $136 million in the third quarter of 2020 compared to operating income of $14 million in the second quarter of 2020. Depreciation and amortization totaled $71 million in the third quarter of 2020. Operating income before items1 was $43 million in the third quarter of 2020 compared to operating income before items1 of $15 million in the second quarter of 2020. When compared to the second quarter of 2020, manufactured paper shipments were up 20% and pulp shipments decreased 7%. The shipment-to-production ratio for paper was 105% in the third and second quarters of 2020. Paper inventories decreased by 20,000 tons, and pulp inventories increased by 38,000 metric tons when compared to the second quarter of 2020.