Tembec improved 1Q sales to $387 million

Photo: Tembec

Tembec’s consolidated sales for the three-month period ended March 25, 2017, were $387 million, as compared to $380 million in the same quarter a year ago.

The Company generated net earnings of $24 million or $0.24 per share in the March 2017 quarter compared to net earnings of $27 million or $0.27 per share in the March 2016 quarter.

The prior year quarter included a non-cash gain of $27 million related to the translation of US dollar denominated debt. The March 2017 quarter includes a non-cash debt translation gain of $7 million.

Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $54 million for the three-month period ended March 25, 2017, as compared to adjusted EBITDA of $36 million a year ago and adjusted EBITDA of $34 million in the prior quarter.

Tembec is a manufacturer of forest products – lumber, pulp, paper and specialty cellulose – and a global leader in sustainable forest management practices. Principal operations are in Canada and France.