Resolute Reports Third Quarter 2022 Results

Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today reported net income of $87 million, or $1.11 per diluted share, for the quarter ended September 30, compared to net income of $80 million, or $0.99 per diluted share, in the same period in 2021. Sales were $974 million in the quarter, an increase of $157 million from the year-ago period. Excluding special items, the company reported net income of $85 million, or $1.08 per diluted share, compared to net income of $67 million, or $0.84 per diluted share, in the third quarter of 2021.

The company reported operating income of $124 million in the quarter, compared to $217 million in the second quarter. The $93 million reduction reflects lower realized prices in wood products ($185 million), partially offset by higher prices in the pulp, paper and tissue segments ($48 million), higher shipments in wood products ($40 million) and lower manufacturing costs ($12 million). The company also recorded higher selling, general and administrative expenses ($17 million), reflecting a higher share-based compensation expense and costs incurred in relation with the acquisition by the Paper Excellence Group.

On July 5, the Paper Excellence Group, through its wholly-owned subsidiary Domtar Corporation, a global diversified manufacturer of pulp and specialty, printing, writing, and packaging papers, entered into an agreement with Resolute to acquire all of the outstanding common shares of Resolute stock.
details at: https://resolutefp.mediaroom.com/2022-11-03-Resolute-Reports-Third-Quarter-2022-Results

Related Posts

UPM Raflatac Receives APR Design® for Recyclability Recognitions for Three Types of BOPP Label Solutions

UPM Raflatac, a global supplier of innovative and sustainable self-adhesive paper and film products, has been formally recognized by the Association of Plastic Recyclers (APR) for three types of biaxially-oriented polypropylene (BOPP) label products for HDPE and PP package recycling. These include Undecorated BOPP with hotmelt adhesive, Undecorated BOPP with RW85C, and Metalized undecorated BOPP with general purpose acrylic adhesive. APR Design® for Recyclability Recognition provides third-party validation that a package or packaging component’s design is compatible with the North American recycling system. This process has now confirmed that UPM Raflatac’s BOPP products, as stated above, have met the highest criteria for recyclability according to the APR Design® Guide. UPM Raflatac’s latest recognitions are all for HDPE and PP recycling.

Neenah, Inc. Joins CEO Action for Diversity & Inclusion

Neenah, Inc. announced that it has joined CEO Action for Diversity & Inclusion™, the largest CEO-driven business commitment to advance diversity and inclusion within the workplace. One of nearly 2,000 CEOs that have come together for CEO Action for Diversity & Inclusion™, Julie Schertell, is committing herself and Neenah to advance diversity and inclusion efforts in the company and in the communities where Neenah employees live and work. The CEO Action for Diversity and Inclusion™ commitment is driven by a realization that addressing diversity and inclusion is not a competitive issue, but a societal issue that CEOs can play a critical role in addressing. Companies from 85 industries have signed on, giving the signatory group additional unique perspectives on how to develop comfortable environments for employees to thrive. “A diverse and inclusive workforce facilitates community, increases awareness and builds empathy,” said Julie Schertell, CEO and President – Neenah, Inc. “It also drives innovation and creativity, as employees feel accepted and welcomed to bring their whole selves to work every day, along with their unique perspectives and experiences. All of this leads to greater value, growth and opportunities for our employees, our company, communities and shareholders.”

ANDRITZ is supplying major pulp production technologies and key process equipment for the world’s largest DP pulp mill

ANDRITZ is providing – on EPCC (Engineering, Procurement, Construction and Civil Construction) basis – four of the six most important process islands in the pulp mill: *A complete Wood Processing Plant using ANDRITZ’s proven technologies. *An ANDRITZ HERB Recovery Boiler with high steam parameters of 101 bar(a) and 515°C to maximize power generation. *Two environmentally friendly hardwood Fiberlines, for capacities of 2.6 to 2.8 million t/y of kraft pulp or 1.5 million t/y of dissolving pulp. *Two innovative EvoDry Pulp Drying Systems for the most energy-efficient pulp drying based on the high-capacity Twin Wire Former technology. *ANDRITZ is also supplying a Non-Condensable Gas (NCG) treatment system that enables safe and environmentally friendly treatment of all types of diluted or concentrated malodorous gases, thus meeting the strictest environmental and social requirements.
Back To Top
×Close search
Search