CANADA – Norbord Inc., one of the largest global OSB manufacturers, recorded adjusted earnings of USD 95 million in the second quarter of 2017 versus USD 42 million in the second quarter of 2016 and USD 50 million in the first quarter of 2017.
The company also reported an adjusted EBITDA of USD165 million for the second quarter of 2017 versus USD 94 million in the second quarter of 2016 and USD 103 million in the first quarter of 2017.
The improvement is primarily due to higher North American oriented strand board (OSB) prices and shipment volumes. North American operations generated adjusted EBITDA of USD157 million compared to USD 85 million in the same quarter last year and USD102 million in the prior quarter. European operations delivered adjusted EBITDA of USD 9 million versus USD 11 million in the same quarter last year and USD 6 million in the prior quarter.
“Our second quarter Adjusted EBITDA result is our best since 2004,” said Peter Wijnbergen, Norbord’s President and CEO. “The improved operational performance of our North American mills resulted in lower manufacturing costs and higher shipments this quarter. OSB demand remains strong as US housing starts continue to recover.”
Norbord Results April-June 2Q
USD millions
Source: Quarterly Report
Norbord Results January-June
USD millions
Source: Quarterly Report
0 Comments